Only 1-in-5 have correct travel insurance when they go on holiday

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MoneySupermarket.com has revealed that of those British holidaymakers that are sensible enough to take out travel insurance when they go abroad, only one-in-five has the correct level of cover.

Whereas some people do not have enough cover, half of those who do not have suitable insurance actually purchase too much cover so they are paying for insurance that they do not need.

As well as that, the research also found that four million travellers do not take out any travel insurance when they go on holiday, meaning they are putting themselves at risk if something goes wrong. Not only would they have to pay for any items that are stolen, but if they end up going to hospital whilst on holiday this could end up costing them thousands of pounds, even for relatively minor accidents.

The research from the comparison site also revealed that the average contents of each traveller’s suitcase is £1,440 when they go on holiday, a total of £32 billion of goods.

The reason that the value is so high is mainly due to the habit of packing expensive gadgets and electronics such as iPads, smartphones and laptops which many people could not be without whilst on holiday.

MoneySupermarket.com also advised holidaymakers to check whether there is a maximum limit on items that are lost or stolen on their insurance policies. Most insurance policies have such a limit per item, so travellers taking items like expensive jewellery may find that they are only covered up to a few hundred pounds. In this case it would be a good idea to get the items insured separately.


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