During the beginning of the credit crunch, the number of Brits opting out of insurance as a bid to reduce costs soared.
However, it has now been revealed that Brits are finally beginning to understand the importance of insurance.
According to research from a price comparison website, more homeowners are keeping their home insurance and are instead reducing "unnecessary" cover for other items such as mobile phones as a bid to save money during the recession.
A spokesperson from the website said: "It is great to see that Brits have wised up to the perils of cancelling important insurance policies.
In times like these there is no doubt every penny counts and it is encourgaing to see Brits are making every effort to see where savings can be made.
Shopping around when it comes to renewing your motor insurance policy is crucial; it is quick and easy to do and could save you hundreds of pounds."
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