The British Insurance Brokers Association (Biba) has warned credit crunch hit Brits not to pinch pennies when it comes to their van insurance.
Biba reminded consumers that cover such as van insurance and home insurance is "vitally important" and should not be sacrificed, even during a recession.
The organisation's chief executive, Graeme Trudgill, acknowledged the financial difficulties facing consumers but said that it is potentially dangerous to cut back on van insurance cover, particularly when cheap quotes can be obtained relatively easily. Instead, he argued, the average Brit must seek to make savings elsewhere in his or her personal budget.
He told press, "It is vitally important for such a small cost that, of all the insurances that you do choose, the household ones - buildings and contents - and the motor ones are an absolute must."