Travel Insurance Complacency Can Cost Holiday-MakersWed, 29/06/2011
Holiday-makers are possibly losing out on big savings by choosing the apparently "easy" option for their travel insurance according to a poll conducted by Be Wiser Insurance.
Nearly half (48%) of British travellers buy their insurance on a trip-by-trip basis, which may lead to an overall higher cost.
Mark Bower-Dyke, Chairman of Be Wiser Insurance, comments:
"The biggest savings can often be found by taking out an annual multi-trip insurance policy - buying on a trip-by-trip basis can end up being expensive in the long run."
13% buy per-trip and at the time of booking their holiday, often through their travel agent.
40% buy annual multi-trip insurance, hopefully saving money across the year. However, many revealed that they had purchased their annual holiday insurance from their bank or building society.
Mark Bower Dyke comments:
"Travel agents don't always offer the most competitive rates, but often travellers 'give in' and buy their bundled insurance to avoid what they believe will be extra hassle. The same can often apply to annual travel insurance bundled with bank accounts."
The biggest danger with annual holiday insurance is the assumption that you're covered for almost anything. It is vital to check the policy and make certain all the types of holiday activity you are planning are included.
Mark Bower-Dyke comments:
"With annual insurance it is easy to forget about the exact terms of your cover which is why shopping around to find something suitable for you and your travelling needs is better than settling for 'bundled' travel insurance."
Luckily only 6% of travellers never buy travel insurance.
Mark Bower-Dyke concludes:
"Being covered while abroad is important as having an accident can become costly quickly - taking the risk just isn't worth it. At Be Wiser Insurance we make sure you find the perfect travel insurance for you without the hassle"