15% ignore travel insurance
27 July 2004
Holidaymakers are set to spend a staggering £104.8 billion on their holidays this year, the equivalent of around £3,317 each.
However, although almost 35 million people will be taking holidays 15 per cent will not be bothering to arrange insurance.
According to research from the travel insurance company AXA, this means up to £12.23 billion of holiday expenditure will not be insured.
The head of travel claims at AXA, Pat Brady says: "A lot of money is spent on holidays which makes it all the more important to have adequate insurance."
He adds: "Cover provides protection against a whole range of disasters that can happen including cancellation of your holiday to losing money or your luggage. Given that you can buy a good travel insurance policy for around £17, it's a small price to pay to ensure that you are covered."
AXA's survey reveals that the biggest area of holiday expenditure will be travel and accommodation, which will cost over £56 billion. This is followed by £38.54 billion in spending money and £7.59 billion on holiday clothes.
AXA is now providing advice to ensure holiday money is kept safe. For example, it says it is best to store money in several places, so if you are robbed you won't lose it all. Additionally, many hotels offer safety deposit boxes, which it recommends should be used.