£6bn lost on cancelled holidays
With a recent study revealing that over £6 billion was lost last year through people cancelling holidays they have already booked, Britons have been reminded of the importance of taking out a comprehensive travel insurance policy.According to the insurer More Than, who released the findings, while many people book their holidays well in advance, many fail to take out insurance and therefore leave themselves vulnerable to losing money spent on booked travel and accommodation should their plans change.Of all the claims made through More Than's travel insurance service last year, 26 per cent were for the cancellation of holidays, with an average cost of £856.Commenting on the findings, the company's head of travel insurance, Keira Clark, said: "It's encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don't realise that by purchasing their policies late, they miss out on valuable cancellation cover."The comments come soon after British holidaymakers were advised to make sure their building insurance is up-to-date before going away, in the event of leaking pipes and water damage.
Is it sensible to reduce insurance cover in times of financial hardship?
Insurance cover is a subject which often arises during times of financial hardship such as many people in the UK are experiencing at the moment. More and more people are looking at the possibility or reducing their insurance cover in order to reduce their outgoings but does this really make sense?
The thing about insurance cover is the fact that while you may not use the cover in yo...
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