As Britons are waking up to the reality of what happens when a dream holiday is booked without taking appropriate measures to protect themselves financially, American Express Insurance Services has discovered that one in four people still plan to go on holiday this year without travel insurance.
It seems that as Britons find their finances further stretched, they are being forced to make cut backs, risking a holiday without cover.
The latest research from American Express Insurance Services indicates that 14.5 million Britons face the possibility of having to spend thousands of pounds on repatriation and medical fees as they plan to axe their travel insurance this year, leaving them exposed and vulnerable.
Chris Rolland, Head of American Express Insurance Services comments:
"As the cost of living rises and there is less money left over at the end of each month and one in four are struggling to meet the cost of holiday insurance. If it is a case of people cutting back on travel insurance in order to afford their holidays then perhaps they should think twice before booking. Should something happen, the current economic market means that the last thing you need now is an unexpected bill. If you are planning more than one trip this year, you should opt for an annual travel insurance policy instead. It will save you more money in the long run and help you to avoid being financially stung while you should be relaxing on holiday.
Travel insurance: News update: September 2008