Consumers who find the rising cost of living is putting constraints on their finances could benefit from a number of options, it has been claimed.

The advice comes from Sainsbury's Bank following research which found 2.9 million people say they have no insurance because they cannot afford it.

Half of respondents in the south-east - which typically tops the tables in terms of house prices - have neglected to buy insurance despite being potentially at risk without it.

But the most likely region for this to be the case is the north, with 51 per cent of residents not being covered for at least one form of insurance.

Secured loans could be one means of providing the necessary funds to purchase insurance cover, in order to avoid being hit with a hefty bill for replacing a car or home contents, or obtaining medical treatment for a pet.

Other methods include shopping around, Sainsbury's Bank advises, with a potential ten to 20 per cent saving on insurance premiums available by buying online.

Secured loans could prove effective in funding veterinary bills should dogs get their teeth into chocolate this Christmas - which Tesco Personal Finance recently stated is toxic to their digestive systems.ADNFCR-1287-ID-18391455-ADNFCR

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