Travel insurance pushed to bottom of holiday finance pile
26 January 2009 09:03
Travel insurance is worryingly being pushed to the bottom of the priority list when holidaymakers plan their finances before a holiday.
New research from Norwich Union has found that 51 per cent of holidaymakers have said that travel insurance will not function in their holiday finance chart.
However, the company has urged holidaymakers not to leave home without travel insurance just as a way of cutting costs.
According to Norwich Union's claims data, the average claim for a medical emergency is £1,200 and the average baggage claim is £220.
Suzi Fenn, travel product manager at Norwich Union, comments: "Understandably, people are looking to make savings on their holidays this year given the economic climate.
"However, with more than £60 million paid out in 2007 in insurance claims for everything from medical emergencies to damaged baggage, scrimping on this essential travel cost really isn't worth the risk."
The research also found that three in four people are planning to holiday in the UK this year as a way of cutting costs and one in three of these are planning to take out travel insurance to cover them against unexpected cancellations.