10 November, 2008

It has been reported that it is vital for Britons to stop spending money needlessly.

According to research conducted by esure home insurance reveals that as consumers take to the high streets in the run-up to Christmas, getting their hands on a bargain probably at the forefront of their minds. However, the monetary services giver reports that as consumers find that their pockets and purse strings pinched by the credit crisis, a significant number of adults could be meaninglessly splashing the cash.

The firm points out that just 23 per cent of people claim that when purchasing things like a mobile phones, watches or a pieces of jewellery from a retailer they would also buy additional insurance from the retailer in order to offer cover in the event of damage, theft or loss.

This, esure reported, would see such consumers who go on to seek out individual insurance for items "essentially be doubling-up on the cover they have". However, for those looking for an effective way to fund a shopping spree, taking out personal loans may prove to be of great assistance. These loans provide financial support to the borrowers so that they can easily meet their all financial commitments on time.

Commenting on the figures, Mike Pickard, head of risk and underwriting for esure home insurance, reveals that "At a time when household finances are being prolonged to the edge, purchasing insurance that you don't need or already have could add a significant sum to your total shopping bill especially at Christmas time. It is vital to know what your home insurance covers before you hit the shops to avoid wasting money on unnecessary policies."

To avoid spending unnecessary money it is suggested that people should take out personal loans and have control over their spending on unnecessary insurance purchasing.