The latest research from Caxton, the international payments and foreign exchange firm, reveals that only just over half (54%) of UK holidaymakers have travel insurance in place at the time of booking their trip.
Caxton found that 32% per cent of those surveyed admitted they didn’t purchase travel cover until between 2 months and one week before they jet off, with one in eight (13%) taking a flyer and travelling without any cover in place.
Alana Parsons, Chief Operating Officer at Caxton comments: “The Coronavirus outbreak highlights why it’s important to have a safety net in place – it may seem like a non-essential additional expense but it’s at times like these that insurance comes into its own and people appreciate the value it can offer.
“Insuring at the time of booking should be the default position for travellers – the upfront cost is often fairly small when compared with the potential financial loss if something unexpected occurs, forcing you to rejig your holiday plans.”
“If you’re a frequent traveller an annual multi trip policy is a cost effective way of ensuring you’re always covered and is an essential part of your travel kit ‘must haves’ along with your passport and travel money card.”
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