Holidaymakers must make sure they have adequate travel insurance

(16/11/2009)

Sainsbury’s Travel Insurance estimates that some 11.3 million Britons, over a third (37%) of those who went on holiday this summer, did so without any travel insurance to cover their trip. The new research from Sainsbury’s Travel Insurance indicates that those under the age of 34 were most likely not to bother buying travel insurance.

With the travel insurance industry paying out just under £400 million each year according to the Association of British Insurers, Sainsbury’s Finance estimates that those travelling without insurance have collectively faced costs of more than £57 million which would otherwise have been covered by their insurer.

It is estimated that some 39% (1.6 million) of those aged 16-24 years and 43% (1.9 million) of those aged between 25-34 who travelled abroad this summer, did not or did not intend to take out travel insurance.

The most common reason for people not taking out travel insurance was because they felt they did not need it, with just over 2 million people (18%) saying so. Another 1.9 million people (17%) not taking out cover said that they could not afford it, which may be a reflection on the current economic climate.

Sam Marrs, Sainsbury’s Travel Insurance Manager, says: “Buying travel insurance should be considered a holiday essential. It is very worrying that many people feel that they do not need travel insurance as no-one can guarantee a ‘hiccup-free’ holiday. We are very concerned by our research findings and would strongly urge winter holidaymakers to purchase a good quality policy before they go, as winter breaks, especially those involving skiing and snowboarding, can often lead to more claims than summer vacations.

“There are so many events beyond your control which could easily occur when you're away, such as losing luggage or money, falling ill or having to cancel at the last minute or fly home due to a family emergency. The costs of such unforeseen events can be significant and good quality travel insurance will relieve the financial strain and ease your stress.”
On a location basis, those in the East Midlands and East Anglia were the least likely to take out travel insurance for their summer holiday, with 44% of those taking a break saying that they would not bother. Those travelling from the North this summer were the least likely to neglect purchasing insurance - with 72% saying they would buy cover.

Related categories:  Travel insurance 

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