Is it time to revisit your travel insurance arrangements?
The ongoing demise of the UK travel sector has prompted more people than ever before to review their travel insurance arrangements and check with their provider to see if they have sufficient cover. Many people are not only scared of losing their holiday money for those booked for the future, but if they do manage to fly out there is a concern that they may hit trouble trying to return.
The next few months should see a substantial increase in travel insurance cover throughout the UK but there are concerns that the insurance companies could increase premiums to milk the demand for as much as possible. While this is a claim which is often directed at the insurance industry they are very tightly regulated and any substantial increase in premiums and costs has to be well documented and customers given sufficient notice.
The problem for insurers and consumers alike is the fact that many holidaymakers will now be looking for some kind of insurance with regards to flying back form foreign lands in the even that their company goes under. This will be difficult to predict and potentially expensive for both consumers and insurance companies alike.
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