Churchill Travel Insurance warns of travel cash waste

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Churchill Travel Insurance warns of travel cash waste

Britons waste over half a billion pounds on their travel cover each year by clinging to old spending habits, Churchill Travel Insurance has said.

Research by the company shows that the decision to buy multiple short-term travel insurance policies is costing £546 million extra each year, This is Money reports.

About two thirds of all travellers take out single-trip policies even though they might be planning more trips for the year.

Low-cost flights make people travel a lot more but their insurance habits have not changed, the company said.

Mike Ketteringham, head of Churchill Travel Insurance, said: "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."

Somebody travelling abroad four times a year would pay £135 for single-trip policies in comparison to £85 for a year-long one, Churchill Travel Insurance said.

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