Rise in purchase of last-minute travel insurance
09 March 2009 08:11
People are waiting until the last minute to purchase travel insurance policies as they look to take advantage of bargain holiday deals, according to new evidence.
Statistics from provider InsureandGo indicated that the average time between purchasing a holiday insurance policy and setting off fell by 25 per cent between January 2007 and January 2009.
According to the company, some 796,000 policies were sold by the British travel insurance industry to people departing within three days of their purchase in the first month of the year.
Perry Wilson, founder of the site, explained: "This is a good indicator that people are booking last-minute holidays, probably due to the competition on the high street and from online tour operators."
He advised holidaymakers to remember that however late they make their booking, travel insurance should be the first thing sorted out after flights so that they are covered for unforeseen cancellations.
Expressing a similar sentiment last month, the Daily Mail suggested that people who travel abroad without holiday insurance could end up with steep bills if they have an accident.