Travellers have again been warned of the perils of cutting back on insurance cover after new statistics revealed that more people are being tempted.

Travellers have again been warned of the perils of cutting back on insurance cover after new statistics revealed that more people are being tempted.

According to research carried out by Sainsbury’s Finance, 465,000 people have cancelled their travel insurance policies over the past year, while another 82,000 have reduced the amount of cover they take out.

Company spokesperson Neil Lard said this approach could result in large bills should something unexpected happen.

“It’s inevitable that people are going to be looking to make cutbacks, but it’s a real concern when those cutbacks leave them vulnerable to far greater expense down the line,” he commented.

Mr Laird added that travellers must begin to see insurance cover as a necessity, not a luxury purchase.

The news follows a report from last month, in which statistics from moneysupermarket.com showed that eight per cent of holidaymakers never take out cover, while 62 per cent have gone without in the past or would consider it.

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