One in three holidaymakers fail to shop around for travel insurance

19 Apr, 2018

19 Apr 2018 Research from Sainsbury’s Bank Travel Insurance reveals that one third (34%) of UK adults have plans to go on a package holiday in 2018, with some who already having jetted off. 15 per cent have already booked a packaged trip, a further 14 per cent are thinking about it and four per cent have already been away on one this year.

Of those who are planning, or have been on a package break, a quarter (23%) also bought their travel insurance from their holiday provider. For those aged 18-34, this rises to over a third .  Worryingly one in ten of those going on a packaged break won’t buy any travel insurance for their trip.

Karen Hogg of Sainsbury’s Bank Travel Insurance, commented: “Just because you’ve picked the ease and security of a package holiday with its many perks including airport transfers and local representatives, it doesn’t mean you can forgo travel insurance. Good quality travel insurance is imperative should you or one of your party become ill. It will also cover loss or theft of personal belongings.”

Of those who will opt for their holiday provider’s insurance package, over half  do so as they trust their holiday provider and prefer to have everything done with the same company. A quarter also mention that their holiday provider was offering the most competitive rate, while.  17 per cent don’t have time to shop around and find the most competitive deal.

Karen continued: “Not all travel insurance policies are the same so shop around for the best policy for you and make sure that it covers all of your needs so you’ll have peace of mind if anything unexpected happens.”

The research found that three in ten (30%) going on a packaged trip will look around for the most competitive quote from a third party insurance company and purchase a single trip policy, a fifth purchase an annual policy from the most competitive provider each year while one in eight have an annual policy they renew each year without shopping around.

Sainsbury’s Bank offers single trip and annual multi-trip policies at different levels of cover, Silver, Gold or Platinum. Holiday makers can also choose optional add-ons such as winter sports cover. Kids go free with single trip and annual multi-trip cover, although pre-existing medical conditions may be extra. And a 20% discount is applied when a valid Nectar card number is quoted.