Too Many Paying too much for Travel Insurance

Millions of holidaymakers are forking out too much money on their travel insurance because they are buying single trip cover each time they go away rather than an annual policy, according to a leading travel insurer.

A family travelling to Europe three times in a year could reduce the cost of their insurance by a quarter without skimping on the comprehensiveness of their cover, according to Sainsbury's Bank.

Around 5.5 million people jetted off several times last year with a further 10 million enjoying two or more overseas breaks.

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."

Sainsbury's recommends that holidaymakers ensure they are covered for all of the main problems that can arise when abroad including flight cancellations, medical treatment, and stolen money or lost possessions.

Policyholders should also carefully check the small print for the full range of benefits and exclusions for that particular cover.