Bag yourself a better travel insurance deal
MORE than six million of us are looking to book holidays in January, according to research from Sainsbury’s Bank Travel Insurance, which suggests 76% of UK adults will go on holiday in 2020, spending an average £757 each per getaway.
Cruises tend to be the most expensive type of holiday, with these holidaymakers planning to spend an average £1,650 each, the research found.
Meanwhile, the average cost of an overseas beach holiday, favoured by 40% this year, was put at £1,039 per person.
Staying closer to home could be more cost-effective, as a UK seaside holiday will set travellers back £347 on average, while a UK break in the countryside could amount to £380 per person, the insurer said.
Worryingly, despite the high costs that can be involved if something goes wrong while overseas on holiday, more than a fifth (22%) of people will not be buying travel insurance, the research also found. A further 22% will only buy their travel insurance in the week before they travel.
The findings are concerning, given that Sainsbury’s Bank insurance claims data found a typical travel insurance claim was £631 in 2019.
Sainsbury’s Bank’s travel insurance claims data shows that half (50%) of all claims were due to medical expenses, 20% for lost or stolen personal possessions and 15% for cancellation.
Here are Sainsbury’s Bank’s top tips when buying travel insurance:
■ Weigh up the cost of single trip insurance against annual cover.
How many holidays do you typically take in a year?
Even though you may only have one holiday booked now, if you usually jet off later into the year it may be cheaper to buy annual cover.
■ Consider any medical conditions.
Ensure you declare any medical conditions you may have and consider whether you may need to add on medical cover for pre-existing conditions.
■ Get cover for adventures.
If you are heading to the ski slopes, make sure you have winter sports cover should you be involved in an incident.
■ Check for offers and discounts.
When shopping around for insurance, make sure to take advantage of offers.