A third of holidaymakers shun travel insurance

Half of those planning a summer holiday this year have not purchased any travel insurance for their trip, and while it could just be a last minute job for many, a third have admitted they don't intend to buy any cover at all.

This is the conclusion of a survey by Money Advice Service, which questioned 2,000 UK adults about their holiday plans, either abroad or on home soil.

It revealed that of those heading overseas, some 33 per cent haven't secured cover yet and eight per cent don't plan to, leaving them at serious financial risk should they fall ill, have an accident or lose any of their possessions while they are away.

Of course not everyone is going abroad this summer and many holidaymakers will be enjoying a staycation in the UK. But even then, travel insurance is important in the event of lost property or cancellations.

Some 68 per cent of those holidaying at home are uninsured at present, and 57 per cent are not planning to take out any protection.