People need to find other ways of saving money instead of cutting back on their insurance, one firm has advised.
Fairinvestment.co.uk conducted a survey found that 24 per cent of respondents confessed to not having life, medical or travel insurance.
However, perhaps a little more reassuringly, 62 per cent of Brits were discovered to have some kind of home insurance to protect their property and its contents.
Rachael Stiles, a spokesperson for Fairinvestment.co.uk, said it was good to see people covering their homes.
"But the fact that almost a quarter of people are without insurance like life and travel insurance is concerning," she continued.
The poll revealed that men are less likely to have cover than women and 53 per cent of 19 to 21 year olds confessed to having none of the major insurance options.
Research from Halifax recently found that two out of five Brits do not check their homes for fire hazards, which could have dire consequences for anyone without home insurance.
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