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British travellers left exposed by lack of awareness of the cost of belongings

26th August 2015 Print

British travellers are underestimating the value of their holiday belongings, leaving a significant number of insurance policies invalid.

A survey by of 2000 consumers showed that the average Briton believes the total cost of belongings taken on holiday to be £700.37. Industry statistics indicate the average traveller takes over £2500 worth of luggage (Source: LV=), meaning a huge amount of goods are likely to be uninsured and consumers will be hugely exposed in the event of a claim.

The results revealed that the UK does not seem to take into account smaller high value items, such as smartphones, tablets, watches, jewellery and cameras, all of which can be worth large amounts. This oversight has inevitably left many travel insurance policy holders greatly exposed in the event of a claim, as one in four policies do not provide baggage cover over £1000 (Source: defaqto).

The survey also established that older travellers underestimate the cost of their luggage more than younger holidaymakers. The average estimated value of holiday belongings was £781.67 for the 18 – 24 age bracket while over 65s estimated their luggage to be worth as little as £621.27, £1878.73 below the average.

Damian Reilly, Head of Travel Insurance,, said: “These figures show a general lack of awareness on the part of holidaymakers as to how much their personal belongings are actually worth. Unfortunately, things can and do go wrong when people are travelling and leaving yourself exposed without adequate protection could have serious consequences and ruin a much anticipated holiday. Not only is it sensible for holidaymakers to get travel insurance, it is important for them to get the right type and level of cover, to suit their individual needs.

“Equally, when taking out a travel insurance policy, holidaymakers should also fully read through their documents to ensure they understand what they are covered for. Foreign & Commonwealth Office research suggests that only 12% of people actually read the T&Cs, which could leave people in a difficult situation in the event of a claim.”