As many as three million people failed to buy travel insurance for their last trip yet one in five travellers have had to make a claim, a new study reveals.
Almost half (49%) of Britons buy their holiday cover as little as two days before their trip but 12% don’t buy any insurance whatsoever.
Younger people in the 18-24-year-old age bracket are most likely to go on holiday without taking out insurance, even though the average policy is only £19.88, according to the poll of 2,000 people by MoneySuperMarket.
People aged 65-plus are most likely to take out annual trip policies.
The majority of consumers (71%) choose their travel insurance policy based on price, et other factors should also be considered to ensure the cover reflects individual needs, according to the price comparison website survey.
The study found that 29% of claims were for injury, the most common insurance claim, followed closely by theft (28%).
More than half (57%) would consider cancelling a holiday because of a family bereavement.