Cheap travel insurance policies are the biggest lure to travellers – but do they provide comprehensive enough cover? With almost a third (28%) of Brits failing to purchase travel insurance for their last holiday, specialist travel insurance provider P J Hayman & Company (the company behind 24/7 travel insurance) warns consumers not to ignore the benefits of cover or simply opt for the cheapest choice.
According to recent research conducted by P J Hayman on over 1,300 consumers, the biggest offenders for avoiding taking out insurance were: Men 35%, under 20s (43%) and Londoners (27%).
When it comes to purchasing travel insurance, the factor which most influences consumer opinion is price, with 20% of people choosing it as the most important deciding factor. However P J Hayman believes that cheap cover does not necessarily mean comprehensive cover and consumers should be wary when selecting a policy purely based on its cost.
Other factors that were rated highly include the policy specifics (18%), policies that provide the highest coverage levels (17%) and opting for a familiar brand (13%).
However, only 38% of the UK population read their travel insurance policy thoroughly – with those in the East Midlands most likely to read it (48%) and those in the North West least likely (28%). The majority of Brits (40%) admitted to simply glancing at their policy and assuming that all is in order.
24/7 travel insurance
We offer two levels of insurance cover so you can pick the right policy to suit your needs. You can see our ‘standard’ and ‘premier’ insurance cover limits in our Policy Wording on our Documentation Page. 24/7 also covers a wide range of activities as standard!
You can purchase great value travel insurance direct at 24/7 travel insurance. For a 3-day break in Europe, it will cost you just £5.32 † – a small price to pay to really relax and enjoy your holiday all the more!
† Premium £5.32 includes Insurance Premium Tax based on an individual aged under 55 taking out a Standard Single-trip 24/7 travel insurance policy for 3 days in Europe excluding personal possessions cover and purchased within 14 days of departure date. Cover details and prices are correct at time of going to press (November 2009) and are subject to change.