Single trip insurance could save travellers money
by Richard Kilner
Defaqto, the independent financial research firm, has reported that travellers enjoying a single holiday this year could benefit more from single trip insurance, rather than an annual policy.
Head of Research and report author Brian Brown has said that it makes sense to cut back spending whilst retaining an adequate level of coverage.
Brown pointed out that, according to the calculations included in his report, travellers could see their insurance costs work out at 147% cheaper than an annual policy, if they make one trip and opt for single trip insurance.
In March of this year, Aviva commissioned research which revealed that a substantial minority (31%) intended to skip travel insurance or consider going without it in the future.
Whilst avoiding travel insurance does produce a short term saving, it could easily produce a hefty loss, especially if medical factors come into play in a foreign country.