Health coverage most common insurance Americans dropped to save money in 2020, survey finds

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Many Americans cut back on their insurance policies in 2020 to save money, with health coverage being the most common policy that consumers decided to scale back or drop altogether, according to a survey from ValuePenguin

The online survey, fielded from Dec. 9-11, included responses from 1,023 Americans. The sample base was proportioned to represent the U.S population. 

Overall, 39 percent of Americans cut back on some type of insurance policy, whether it was health, auto or dental, in 2020. Forty-five percent said they did so to save money, while 29 percent said they couldn't afford it.

Health insurance was the most common policy dropped, followed by auto and dental.

Fifty-two percent of survey respondents who cut back on their insurance plans intend for it to be a temporary change, according to ValuePenguin.

Read more here.

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