Britons 'wasting money' on travel insurance

Anyone planning on going on holiday both this Christmas and in the new year is being advised not to waste money by takin

Travel Insurance News - 09/12/2005

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Anyone planning on going on holiday both this Christmas and in the new year is being advised not to waste money by taking out a single-trip travel insurance policy.

A study by Churchill Travel Insurance has found holidaymakers across the UK are wasting £546million on travel insurance each year, with two in three travellers choosing a single-trip policy in spite of having several vacations planned over the next year, This is Money reports.

It appears that although holidaymakers are broadening their horizons in terms of destination choices, they fail to be so farsighted when choosing a travel insurance policy, with many choosing several single policies over a yearlong policy that would cost less.

Mike Ketteringham, head of Churchill Travel Insurance, said: 'We're making shorter and more frequent trips abroad than ever, which is why so many bargain travel deals are snapped up over the new year period.

'By taking out a separate insurance policy for each trip, travellers are wasting both valuable time and money. It would make greater financial sense and be far less time consuming for them to purchase an annual policy.'

It estimated that someone who takes four holidays in one year would spend around £135 in single policies, compared to £85 with a yearlong deal.

Vacationers are also advised to shop around for insurance on the net through comparison sites, to tailor cover to suit their needs and to get a policy straight from the insurer rather than via a travel agent.

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