Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 22nd of May 2019
August 10, 2009

Direct Travel Insurance warns against skimping on coverage

by Richard Kilner

Story link: Direct Travel Insurance warns against skimping on coverage

With the economy continuing to contract and consumers becoming more careful with their spending, there may be a temptation to cut back on what are seen as luxuries rather than necessities.

In a bid to encourage holidaymakers to take out travel insurance, Direct Travel Insurance has released information regarding claims made to highlight the potential risks and costs of travelling abroad or domestically without adequate coverage.

The figures cover 2008, and reveal that the average cost of cancellation was £747, with stolen/damaged baggage typically costing £210.

Legal expenses can be an unsurprisingly hefty cost, averaging £1,923 for the last year.

Direct Travel Insurance MD Jonathan Cooper has described travel insurance as an absolute necessity, regardless of the longevity of the holiday.

Cooper went on to warn about the potential costs of medical treatment, as even minor ailments can end up costing substantial sums.

Last week Saga Travel Insurance revealed that almost one in ten Britons travelling abroad were neglecting to take out travel insurance, relying on the European Health Insurance Card (EHIC) instead which does not provide the degree of coverage offered by travel insurance.

 

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