Winter holiday warning as new figures reveal that 11.3 million people travelled without insurance this summer

Winter holiday warning as new figures reveal that 11.3 million people travelled without insurance this summer

■ Over 2 million people don’t feel they need travel insurance(1)
■ Those without insurance face collective costs of around £58 million
■ Those under 34 are least likely to buy insurance cover(1)
■ Sainsbury’s Travel Insurance offers a 10% online discount

Sainsbury’s Finance is warning winter holidaymakers to make sure they have adequate travel insurance, as it estimates that some 11.3 million Britons, over a third (37%) of those who went on holiday this summer, did so without any travel insurance to cover their trip. The new research from Sainsbury’s Travel Insurance(1) indicates that those under the age of 34 were most likely not to bother buying travel insurance.

With the travel insurance industry paying out just under £400 million each year according to the Association of British Insurers, Sainsbury’s Finance estimates that those travelling without insurance have collectively faced costs of more than £57 million which would otherwise have been covered by their insurer.

It is estimated that some 39% (1.6 million) of those aged 16-24 years and 43% (1.9 million) of those aged between 25-34 who travelled abroad this summer, did not or did not intend to take out travel insurance.

The most common reason for people not taking out travel insurance was because they felt they did not need it, with just over 2 million people (18%) saying so. Another 1.9 million people (17%) not taking out cover said that they could not afford it, which may be a reflection on the current economic climate.

Macbeth are Chartered Insurance Brokers based in Reading with a premier client division dedicated to providing advice and insurance solutions to wealthy individuals. Our area’s of expertise include high value homes, fine art and antiques, valuables, second homes and overseas homes and high value cars.

Author: Tony Gibbs | November 11th, 2009

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Tony Gibbs
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk