Industry News from Yes Insurance

Holidaymakers who "forget" their travel insurance – by cancelling it or not taking it out in the first place – are ignoring a vital part of their holiday planning.

Graeme Tudgill, technical and corporate affairs executive at the British Insurance Brokers' Association, said it would be a false economy not to take out travel insurance as "many people suffer travel insurance claims".

"Travel insurance is as important as your suitcase", he added.

According to uSwitch.com, 42 per cent of Brits have cancelled insurance or pension contributions in an effort to cut household expenditure and ease financial pressures.

Mr Tudgill explained travel insurance was a good deal because it paid out a lot for very little - around £14 a month.

He said people should not rely on their European Health Insurance Card as it only covers basic healthcare and not additional costs, such as repatriation.

"I always say you just really need to take it with you. If you don't it's a false economy," Mr Tudgill added.

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