CAB: Don't neglect insurance
Personal insurance
6th May 2009
Homeowners should not cut corners on insurance in order to save money during the economic downturn, it has been claimed.
Simon Harris, chief executive of the Citizens Advice Bureau (CAB) in Stoke-on-Trent, told the Sentinel that many people on lower incomes do not have insurance for buildings or their personal possessions.
"It could be that you default on your mortgage if you don't have it in place and there is also the risk of being a victim of fire or burglary," he warned, adding that a recession could lead to a rise in the number of burglaries being committed.
Mr Harris also said that around an extra 1,000 people had approached his branch of the CAB for financial advice in the first three months of the year.
In addition to offering information to the public, the CAB gathers evidence from its clients and campaigns for changes in national and local policies and services.
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