Buying insurance to cover all your holidays this year will save money in the long run, one expert advises.
Travellers – and especially families – looking at taking out travel insurance are being urged to spend a bit more now in order to make savings in the future.
Research by World First Travel Insurance has found that many people are only buying insurance to cover single trips, which could be costing them significant amounts each year.
The company revealed that 25 per cent of its customers were only buying single trip cover, which could be particularly costly for families.
World First has calculated that a family of four, who take two holidays in a year, could save almost 20 per cent on travel insurance if they took out a cheap annual policy rather than booking per trip.
Martin Rothwell, managing partner of the company, said: “The savings increase the more holidays you take, especially when buying worldwide travel insurance.”
He continued: “Saving now by purchasing a one-off policy is a false economy.”
Holidaymakers have also been warned to check the small print of any policy to ensure they have adequate cover for both medical expenses and equipment.
Research released today by moneysupermarket.com found that many policies on the market included exclusions or conditions, particularly relating to activities such as skiing.
Written by Erin Marshall
