Defaqto is encouraging tourists to make sure their travel insurance policy is appropriate for their needs.
The independent financial research company says that many consumers choose to take out an annual policy, even if they only go abroad once in that year. As a consequence, they may unnecessarily be paying more than they need to, as a single trip travel insurance policy would work out cheaper in this instance. Defaqto therefore advises consumers to purchase the most appropriate policy before setting off on their trip.
Brian Brown, head of research at the group, said: “Many people are having to rein in spending, so it makes sense to buy a policy to cover what you actually need.”
Estimates from Defaqto suggest that annual cover can be up to 147 per cent more expensive than single trip travel insurance . This follows research by Clydesdale and Yorkshire Banks which revealed that many consumers in the UK are cutting back on non-essential items to ensure they can afford a holiday.
Leave a Reply