Round 11 million UK travellers danger dropping their vacation cash annually. Discover ways to keep away from this pricey journey insurance coverage mistake.
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Ah, holidays – that point of yr all of us look ahead to.
Whether or not you’re dreaming of sandy seashores, exploring historic ruins, or simply discovering some peace in a comfortable cottage, the very last thing you need is a mishap ruining your plans.
However right here’s a miserable truth: over 11 million UK travellers are taking a giant danger by not getting their journey insurance coverage sorted as quickly as they e-book.
Ready till the final minute
New analysis from Co-op Insurance coverage reveals {that a} whopping 11 million UK holidaymakers solely purchase journey insurance coverage as much as two weeks earlier than they jet off.
Some even wait till the day they go away!
This can be a bit like packing your suitcase an hour earlier than your flight – it’s demanding, and issues can simply go fallacious.
Monetary dangers
Give it some thought: you’ve spent a mean of £1.1K in your dream vacation.
That’s some huge cash!
But when one thing goes fallacious and you may’t journey, you would lose all that money.
Co-op Insurance coverage’s information exhibits that the common journey insurance coverage declare is over £700.
That’s not pocket change!
And in 2023, one unfortunate traveller needed to declare over £22K.
With out insurance coverage, that’s an enormous hit to the pockets.
And it’s not simply journeys overseas. Even when you journey within the UK (perhaps you bought a discount Solar £9.50 Vacation or are heading to one of many finest Haven parks), insurance coverage continues to be worthwhile.
Timing is every little thing
Shopping for journey insurance coverage whenever you e-book your journey is like having a security internet.
It doesn’t simply shield you whilst you’re away.
It covers you earlier than you even go away.
If you need to cancel your journey as a consequence of an emergency, you gained’t be unnoticed of pocket.
Graham Lush-Ward, Head of Journey Insurance coverage at Co-op Insurance coverage, places it plainly: “Failing to take out sufficient insurance coverage on the level of reserving your vacation might imply dropping your cash altogether.”
Annual journey insurance coverage – is it for you?
You may need to contemplate annual journey insurance coverage when you’re a daily traveller.
This may be cheaper when you take a number of journeys a yr. Plus, it saves you the effort of shopping for a brand new coverage each time you e-book a vacation.
Regardless of the advantages, over half of individuals surveyed by Co-op Insurance coverage solely purchase single journey insurance policies, despite the fact that practically a 3rd of them take two or extra journeys a yr.
Some assume annual insurance policies price extra, whereas others haven’t even heard of them.
Remaining ideas
Don’t go away your journey insurance coverage to the final minute.
Type it out whenever you e-book your vacation to guard your self from sudden prices.
And when you’re a frequent flyer, an annual coverage may be the best way to go.
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Naomi is aware of the burden of residing on little or no and have become debt free by following her personal cash saving suggestions and tips. She is an professional on saving cash on the grocery store and aspect hustles.
