Holidays are expensive enough without paying over the odds for travel insurance, which is why holidaymakers should consider taking out annual cover, says Sainsbury's Bank.
The bank estimates that 6.4 million Brits could make significant savings by ditching their single trip policies in favour of annual cover which will provide them with comprehensive travel insurance all year long.
Sainsbury's says that since Brits take, on average, two trips abroad every year annual cover is more cost-effective than single-trip policies.
Karen Preston, travel insurance manager at Sainsbury's Bank, said: "The beginning of the year is one of the busiest times for holiday booking.
"However, as people get excited about choosing where to go, they can often overlook the importance of choosing the right travel insurance policy or even forget to take out cover at all, especially when taking shorter weekend breaks.
"Before buying insurance, you should consider whether you are going to make multiple trips abroad as you could make a substantial saving by purchasing an annual policy instead of single cover for each trip."
The bank recommends that holidaymakers should not be too hasty in choosing travel insurance and to make sure they get the right type of cover for their needs.
Sainsbury's also says customers should always read the small print and be up-front with their insurer about any pre-existing medical conditions if they don't want to end up with the holiday from hell.To read more about Travel Insurance, click here.
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