Almost 39% of Americans Say They Reduced or Eliminated Insurance Coverage in 2020

Tuesday, January 26th, 2021

Due to the pandemic, unemployment rates skyrocketed in 2020 to astounding levels forcing many Americans to struggle to make ends meet. As a result, when looking to cut costs although 26% said that insurance would never be trimmed from their budgets, others had no choice but to cut or eliminate insurance coverage altogether. 

ValuePenguin's most recent survey found that almost 39% of Americans had to reduce or eliminate insurance costs to help them save money or because they found themselves unemployed. 

Key findings: 

View full report: Americans Cut Insurance Coverage

About, part of LendingTree (NASDAQ: TREE), is a personal finance website that conducts in-depth research and provides objective analysis to help guide consumers to the best financial decisions. ValuePenguin focuses on value, assessing whether the return of a particular decision is worth the cost or risk of that option, and how this stacks up with the other possible choices they may have. For more information, please visit, like our Facebook page, or follow us on Twitter @ValuePenguin.