Holidaymakers should get a travel insurance policy they need, says Defaqto

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www.moneynews.co.uk > Insurance > Holidaymakers should get a travel insurance policy they need, says Defaqto

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Holidaymakers should get a travel insurance policy they need, says Defaqto

Defaqto has encouraged tourists to make sure their travel insurance policy is suitable for their needs.

According to the independent financial research company, many consumers choose to purchase an annual policy, even if they are only going abroad once in that year.

As a result, they could unnecessarily be paying more than they need to, as a single trip travel insurance policy would work out cheaper in this instance.

Defaqto has therefore recommended that consumers purchase the most appropriate policy before setting off on their trip.

Brian Brown, head of research at the group, commented: "Many people are having to rein in spending, so it makes sense to buy a policy to cover what you actually need."

Estimates from Defaqto suggest that annual cover could be up to 147 per cent more expensive than single trip travel insurance.

This comes after research by Clydesdale and Yorkshire Banks found that many consumers in the UK are cutting back on non-essential items to ensure they can afford a holiday.

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