Brits considering cutting back on their car insurance or home insurance should reassess their position and consider what their needs are.
This is the opinion of the British Insurance Brokers' Association (Biba), which claims that people should check with their insurance broker about whether they are cutting back on the right policies if they have to make reductions.
Graeme Trudgill, technical and corporate affairs executive for Biba, suggested that going online to look for insurance can be a better way to save money.
He explained that insurance companies "have variable differences between each other on what they charge for their interest to pay by instalments, so have a look around, see if the policy is the right one for you".
A press release published by Biba has revealed that 29 per cent of brokers have seen a reduction in the number of people taking out non-essential cover.
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