Most Britons take out ‘wrong’ insurance

A new study has shown that four in five British holidaymakers travel without proper cover.

Travel Insurance News - 09/08/2012

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A new study has shown that four in five British holidaymakers are travelling without proper cover.

The figures come via recent survey commissioned by MoneySupermarket, which showed that four million people travel each year without any travel insurance whatsoever. Additonaly, it revealed that more than 30 per cent those that buy insurance do not have the ample features or levels.

One of the largest issues outlined in the report was the risk of people suffering major losses in the event of lost or stolen baggage, with only 20 per cent of respondents having enough coverage to account for all items in their luggage.

Researchers said that the average British traveller now carriers around £1,440 worth of goods in all combined baggage items, although the figure for residents of the South West is £1,735 and for London-based travellers is £1,621. Experts said the number has risen substantially in recent years, primarily due to the rising popularity of iPods, tablets and other electronic devices.

Industry expert Bob Atkinson said on behalf of MoneySupermarket that the report shows that people must take time to ensure all possessions are fully protected and to look closely for single item limitations. He said to “scour the small print” in any policy to ensure that you won’t be sorry if your trip doesn’t go quite according to plan.

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