Over 27 million Brits planning a holiday escape in 2013
An estimated 27.4 million Britons will enjoy a holiday escape in 2013, spending a collective £22.75 billion, according to research from Sainsbury's Bank Travel Insurance. Those planning on taking a holiday in 2013 say that while they will spend £830.61 on the cost of their holiday alone, an increase of 8% or £65.14 (collectively, £0.65 billion more) from 2012, many are looking to get the best value break possible.
In a bid to manage costs, some 19% of holidaymakers plan to book it independently and will go direct to their chosen airline and accommodation provider. Sainsbury's Bank Travel Insurance is encouraging these people to check that their travel insurance policy protects them from potential disruptions such as the airline going out of business or strike action taking place.
Sainsbury's Bank Travel Insurance is also urging travellers not to try to save money by reducing their level of travel insurance cover, which could prove extremely costly in the long run. This is especially pertinent if the holiday has been booked independently and is not part of a package holiday. These holidays are not protected by ATOL which will ensure, should the travel company collapse while they are away, that they can finish their trip and return home, or if they are yet to set off, that they receive a refund.
Other cost saving measures travellers plan to take include sticking to a strict spending limit while on holiday (16%), going on the most cost-effective holiday possible (15%) and planning a few smaller trips and weekends away instead of a long holiday (10%).
The findings reveal that one in 10 (10%) people planning to go away intend to take a few shorter trips and weekends away instead of a big holiday. Just 16% of respondents said they intend to go on the holiday of their choice and aren't worried about the cost. Of the 45% of Brits planning a foreign holiday; 18% plan to stay in a hotel, 11% with family and friends abroad, 10% say they will book a self-catering break and 9% are planning an all-inclusive holiday.
Scott Gorman, Head of Sainsbury's Bank Travel Insurance commented: "It is interesting to see that those people who are planning a holiday this year intend to spend more on average, yet many are still looking to manage their costs. It's essential that those looking to manage their holiday budgets do not sacrifice good quality travel insurance, as they could otherwise end up with some very expensive bills that they're unable to claim for.
"Our research indicates that almost six million people are planning to book a holiday independently to save money. These travellers need to ensure their travel insurance, like our Standard policy, will safeguard them against potential issues such as cancellations, airport strike action or airlines going into insolvency."
Around a quarter (25%) of those planning a holiday this year say they booked it in 2012, compared to 18% at the same time in the previous year. However, nearly three million (2.95 million) Brits (10%) plan to book their holiday at the last minute, as they hope this will result in getting the best possible deal.
Britons are also looking to cut costs by holidaying closer to home, with two fifths (40%) saying they will holiday in Britain this year. Of those planning on staying in the country, 16% will stay in hotels, 13% in self-catering accommodation, 12% with family and friends and 8% will have a camping or caravan holiday.
Sainsbury's multi-trip travel insurance offers:
Up to 25% discount when you apply online for Nectar card holders
20% online discount even if you don't have a Nectar card
Take any number of trips per year - up to 60 days per trip
Travel disruption cover, which includes scheduled airline failure cover, is included with the Standard option of a Sainsbury's Travel Insurance policy.
Tailor your medical care to meet your needs.
To obtain a Sainsbury's Bank Travel Insurance quote, log on to sainsburysbank.co.uk.