64% of people taking part in COVID-19 survey do not have personal insurance in place

About The Authors

13th May 2020 13:22 - Financial Services

64% of people taking part in COVID-19 survey do not have personal insurance in place: A survey of Britons focussing on the coronavirus pandemic and people's finances has found that  almost two thirds (64%) do not have life insurance, income protection insurance, mortgage payment protection or unemployment insurance. 

The survey by Bobatoo asked questions about savings, credit cards, mortgages and insurance - as well general questions about how people were feeling about the pandemic and concerns they might have.

It found that 90% are 'worried' about COVID-19, with more than a third (34%), saying they feel 'very worried'. 

The greatest worry for respondents, according to the poll, was for their family's health and wellbeing (47.3%), followed by loss of income (14.7%), their own health and wellbeing (6.3%) and being unable to pay their bills or rent (5.1%). However, 18.4% said they are concerned about all of these factors.

In terms of the numbers who have already seen their income or employment affected, 30% have seen their job affected. The percentage which had been furloughed by their employer at the time of the survey was 14.5%, compared to 8.8% who revealed they have lost their job temporarily and 7.1% who have been made redundant. Just under a fifth (17.6%) said they have to go to work as normal, while the majority said they are able to work from home (52%). 

The research highlighted a lack of savings amongst British people, with 30% saying they have nothing to help get them through difficult times due to COVID-19, and a fifth (20%) saying they only have enough to cover a  month. One in 10 have enough savings set aside to cover two months, while 9% have enough for three months. 

When it comes to mortgages and rent, the research found that 64% do not yet have payment relief in place. 

Looking at renters, more than a third (35%) said they are continuing paying rent as normal, either because they are not receiving relief from their landlord or they have not yet discussed it. With mortgages, 27.4% have not yet applied for a payment holiday, with 8% saying they have. Of those who said they were are worried about loss of income and being able to pay their bills, half have applied for a mortgage payment holiday, revealed the study.


*Research was conducted between March 30th and April 13th 2020



Sign up for free insights from your sector…

Support Us...

We hope that you have found this article useful. This section is freely available for all to use. Please help support it by liking us or following us on our social media platforms:

Share this article...


For updated Financial Services insights please follow us on @DJS_Finance or use our RSS feed

Other Financial Services Research Findings

Other Latest Market Research Insights

© DJS Research 2020