4m Brits may drop home insurance to cover energy costs

More than a third of over 50s are concerned about making cutbacks to their outgoings in order to defy energy price hikes.

In new figures from Saga, seven million Brits (35 per cent of over 50s) are now contemplating which household financial areas should be cut back from their expenses, and worryingly, 'unseen' expenses such as home insurance may be one of them.

While many people understand the benefit of home insurance, often people will only discover the true value once it's too late, and for over 50s struggling with finances, an unsecured home can add tens of thousands of pounds to the financial strain.

Currently, 86 per cent of over 50s - 17 million people - have changed their habits due to rising energy costs.

August 08^th 2008

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