The Money Stop

Halifax Travel Insurance has reminded holidaymakers to think ahead when purchasing cover for their trips, as many people are leaving themselves out of pocket.

According to recent research, over 50 per cent of all travel policy sales are for single-trip insurance, meaning that these customers are paying extra if they take more than one holiday in a year.

Some 13 per cent of travellers are thought to go away without any insurance, with those aged between 16 and 24 the most likely to ignore a holiday policy.

Halifax states that annual travel insurance is becoming a more important provision for the many people taking advantage of low-cost air travel and internet holiday booking.

“The proliferation of low-cost, no-frills airlines has had a significant impact on our holiday-taking habits,” said Paul Birkhead, underwriting manager for Halifax Travel Insurance.

“More and more of us are taking short breaks to destinations in the UK, Europe and further afield, making annual travel insurance a more attractive proposition.”

According to the cover provider, there is “little difference” in price between annual and single-trip insurance, with some 12-month options actually cheaper than their short-term counterparts.

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