Nearly 12 million people intend to book a holiday by the end of February 2008, with almost a quarter of these being purchased during the first week after Christmas. The findings are from new research from Sainsbury’s Finance, which reveals that people intend to spend around £655 per person on their holidays. However, up to 14% of these early holiday bookers intend to spend over £1,000 per person.
Before booking holidays, Sainsbury’s Finance is urging people to shop around for their travel insurance and make sure that they have adequate cover at a competitive price. The bank’s research suggests that many will not do this as over a quarter of people booking holidays between the end of December 2007 and the end of February 2008 say they intend to purchase their travel insurance through their travel agent or the company selling them the holiday.
Steve Johnson, Head of Sainsbury’s Travel Insurance, says: “It's a great time of year for planning ahead and booking a trip early as there are usually many bargains to be had. However, while it’s easy to get excited about shopping around for destinations, resorts and even flights, travel insurance should not be ignored or accepted as merely an add-on. It may seem a little mundane, but it's worth remembering that shopping around for insurance is just as important as you could save yourself a considerable amount of money."
As people take more holidays, often travelling further afield and participating in more adventurous activities, travel insurance is more important than ever before. There are hundreds of policies to choose from so it's worth making sure you not only find a policy that offers quality cover and benefits, but one that is also competitively priced.
Johnson adds: “Regardless of whether you’re booking now for some winter sun or are just planning ahead for your summer holiday, don’t feel rushed into buying insurance from your travel agent but instead take some time to investigate the best deal for you and your family. Purchasing an annual policy is also worth considering especially if you are planning a few holidays or even a weekend away throughout the year."
Travel insurance: News update: January 2008