With the credit crunch at the moment many people are finding that their money isn’t stretching as far as it has done in recent years, more and more people are cutting back spending in most areas especially in the amount of money they are borrowing on credit cards and loans.
One area Brits are reluctant to compromise though is their summer breaks, our annual holiday taken normally when the kids are out of school in July or August. It would seem that the current financial crisis is not putting people off escaping to the sun soaked shores of the Mediterranean or somewhere sharing a similar climate.
The only worry that many analysts and observers have is that many people may be that desperate to cut down on costs that it won’t stop at multi-stop cheaper flights but spread to travel insurance, and by that they mean travellers may ignore it and save a few pounds by travelling uninsured.
The trouble is that it’s a false saving considering that there are many ways in which your holiday could go wrong or cost more than expected, flights can get cancelled, injuries can occur, holidays can be cut short for all manner of reasons. Should you travel without adequate travel insurance then you could end up footing the bill for hefty medical costs or paying for hotel stays despite being stuck at home with a cancelled flight.
insurance can cover such unexpected costs and with medical bills sometimes costing well into the thousands of pounds on a skiing holiday or getting yourself transferred from a foreign hospital back to the UK it quickly becomes apparent that travel insurance cover is needed if you want your holiday to go without punishment if something were to go wrong.
Considering how there are cheap travel insurance options for both one off trips as well as annual cover for multiple trips there’s really no excuse when it comes to travelling. The added cover is especially popular with families with younger children as they will obviously be wanting every assurance their family is safe on holiday.
These are the people who analysts fear are going to cut back on costs like travel insurance cover and so now more than ever people who want to spend less on holiday are being urged to make sure they have travel insurance cover to prevent possible higher travelling costs.
About the author
Andy Adams is an experienced UK based travel writer