One in five travellers not properly insured
11th August 2012
A recent survey from MoneySupermarket reports that four out of five people in the UK are travelling with inadequate insurance
Remarkably, only one in five British travellers are getting the right level of protection from their travel insurance. Leaving the other four out of five either potentially liable for expenses abroad or over-paying for unnecessary cover.
The research carried out by MoneySupermarket found that a third of people were under-insured and half were over-insured. The survey also revealed that a staggering four million people decide to go on holiday without any travel insurance at all.
This revelation has been met with stark warnings from industry professionals who advise travellers to protect themselves fully when making trips abroad.
Bob Atkinson travel expert from MoneySupermarket said: "Scour the small print of the insurance before you buy and remember the cheapest policy might not be the best value for you, so really think about what you need so you can travel with peace of mind, should your holiday not turn out quite the way you planned."
The study found that one particular area of travel insurance overlooked by travellers is the cover of expensive items. Pricey possessions like jewellery, laptops, cameras and mobile phones could exceed the lower limit of a travel insurance policy, rendering it effectively useless if any items were lost while abroad.
The survey showed that the average value of a suitcase contents was almost £1,500 per person.
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