Travel insurance is essential incase of an accident
Travel insurance too expensive for many
19 September 2008Hard up Brits are risking their health when they go abroad by avoiding taking out travel insurance, according to a new study.
Research by American Express Insurance Services revealed that one in four people (24 per cent) plan to go on holiday without travel insurance as a result of the current economic climate.
According to Chris Rolland, head of American Express Insurance Services, 14.5 million holidaymakers could risk financial disaster if they cannot afford medical bills or repatriation as a result of not having travel insurance.
He said: "Should something happen, the current economic market means that the last thing Brits need now is an unexpected bill."
Mr Rolland advises people who are planning more than one trip this year, to opt for an annual travel insurance policy as it could save them money.
"It will save them more money in the long run and help them to avoid being financially stung while they should be relaxing on holiday," he added.
American Express Insurance Services found that 48 per cent of Brits plan to cut corners on key financial safeguards such as life insurance this year because of the credit crunch.
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