£6.1bn cost of holiday cancellations
March 14, 2007 by admin
Filed under News, News-Insurance
British holidaymakers lost a combined total of £6.1 billion last summer because they had to cancel their trips.
Figures released by More Than show that millions of people lost out financially because they did not have travel insurance.
People were forced to pay for travel and accommodation which they had booked despite never actually making it to their destination.
Travel insurance is a key element to any holiday and can at least help to prevent a bad situation from getting any worse.
More Than says that 26 per cent of travel claims it dealt with last year were for cancellation of holidays, something the firm believes is positive news.
“It’s encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don’t realise that by purchasing their policies late, they miss out on valuable cancellation cover,” commented Keira Clarke, head of travel insurance at More Than.
“We encourage travellers to arrange their insurance at the same time as they book their break, to ensure they’ll be covered if anything goes wrong before the trip.”
According to More Than, the average travel insurance claim for cancellation of a holiday stood at around £856 last year.
