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Brits 'losing millions' over lack of travel insurance

28 July 2009 08:38

Brits 'losing millions' over lack of travel insurance

Brits are losing millions of pounds each year after being forced to cover the financial costs of medical treatment due to a lack of travel insurance, one company claims.

According to holiday firm On the Beach, those who go on a break without comprehensive holiday insurance cover are losing money when unforeseen problems arise.

Marketing director at the firm Alistair Daly says that for Britons looking to save money on a holiday, there are "thousands of great deals".

Destinations which could offer holidaymakers value for money include Spain, Turkey and Greece, he notes.

While many may be trying to save money at the moment, cutting back on holiday insurance could lead to long-term financial trouble should a problem occur on a break.

Figures from the Office for National Statistics show that people from the UK took fewer trips overseas last year.

In total, 69 million visits abroad were made in 2008, down 0.6 per cent when compared to 2007.