Holidaymakers run the risk without insurance

Many British holidaymakers are prepared to run the risk of travelling without insurance, according to new research.

Escapes to the sun are just a click away, with internet deals aplenty and the price of bargain breaks ever decreasing. But moneysupermarket.com has found an alarming one in five Brits travel without insurance, with half of those doing so intentionally and the rest forgetting to do so. Men are the worst culprits with 12 per cent deliberately travelling without insurance, compared to almost nine per cent of women.

Surprisingly, four per cent of those surveyed never take out travel insurance.

Richard Mason, director of insurance at moneysupermarket.com, said: “With the prospect of spending a few days in the sun, it appears travel insurance is the last thing on the mind of some Brits. While holidaymakers might think nothing will happen to them while they are away, travel insurance is vital for claiming on cancellations, lost cash, public liability and providing emergency medical treatment. It gives you added peace of mind should anything go wrong.”

The research revealed travellers in their twenties are most likely to travel intentionally uninsured (13 per cent). For those who do invest in travel insurance, the survey reveals over half of the respondents (52 per cent) shop around and find their own policies through internet research, and 14 per cent take the insurance policy offered by their travel agent.

Richard Mason added: “It was encouraging news for consumers when the FSA announced that, from 2009, the sale of all travel insurance will be regulated. For those still taking out policies when they buy their holiday, for example through a travel agent, regulation in terms of price and suitability will be welcome. I urge holidaymakers to travel with insurance by researching the level of cover you need then shopping around for a competitive price.”

moneysupermarket.com recommends at least the following level of cover:

Medical expenses: £2 million
Personal liability: £1 million
Cancellation: £3,000 (or at least the value of your holiday)
Baggage: £1,500
Cash: £250.