Annual Travel Insurance is Cheapest, Says Study
23/07/2008
A study by American Express shows that 85% of UK residents travelling abroad this summer intend to take out a travel insurance policy. This is of course a wise decision, as holidays can get enormously expensive should anything go wrong. Medical bills can run into tens or even hundreds of thousands.
However, American Express was keen to emphasise the potential savings to be made from an annual - rather than a single trip - policy.
American Express spokesman Chris Rolland explained: "We understand that holiday costs can add up, but by investing in annual travel insurance, Brits will save in the long run and be free to enjoy several breaks throughout the year."
Most respondents of the survey did specify an interest in a multi-trip policy but the company is keen to encourage all holiday-makers to do the same. Even one or two weekend breaks in addition to the main summer holiday could make it more cost-effective to pay an annual premium rather than pay to insure each holiday separately.
More UK residents than ever are taking regular holidays, and more people are going further afield to avoid the strong Euro. According to the Association of British Travel Agents, there is an increase in the number of people booking holidays to the US to make the most of the weak dollar.
However, American Express was keen to emphasise the potential savings to be made from an annual - rather than a single trip - policy.
American Express spokesman Chris Rolland explained: "We understand that holiday costs can add up, but by investing in annual travel insurance, Brits will save in the long run and be free to enjoy several breaks throughout the year."
Most respondents of the survey did specify an interest in a multi-trip policy but the company is keen to encourage all holiday-makers to do the same. Even one or two weekend breaks in addition to the main summer holiday could make it more cost-effective to pay an annual premium rather than pay to insure each holiday separately.
More UK residents than ever are taking regular holidays, and more people are going further afield to avoid the strong Euro. According to the Association of British Travel Agents, there is an increase in the number of people booking holidays to the US to make the most of the weak dollar.
