Nearly a quarter of people in the UK have cancelled their contents insurance. That’s according to the Association of British Insurers who have seen a number of people looking to cut their expenses by stopping a variety of different insurance payments. Life insurance is another cover which has suffered during the recession, as people look to make priorities in every area of their daily costs. But while some types of insurance, like contents and life cover, may have taken a backseat, others like private health insurance may still be important for those people who want to give themselves added peace of mind that they will be treated in a high quality hospital within a short space of time should they become ill. Swapping a private health cover for a lower cost policy like from a cash plan private health insurance provider like Freedom Healthnet could be a more attractive option than cancelling altogether.


There are a number of types of insurance that people cannot cancel, including third party motor insurance and building insurance if you have a mortgage. If you are looking to save money on your expenditure however, contents insurance, flood damage cover and critical illness insurance are some types of policy that you may wish to look at cutting back on. Health is one area in which a lot of people draw a line when it comes to compromises, which could be one of the reasons why the number of people taking out private health insurance in 2008 actually increased despite the country heading into recession. If you choose to cancel your policy, you could end up paying higher premiums than you did previously if you decide to take it up again in the future. Cash plans offered by Freedom Healthnet can cut your monthly premiums by more than half of some other providers and could save you more money in the long term by switching rather than cancelling altogether.