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Why you should buy travel insurance as soon as you book a holiday

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Written by: Paloma Kubiak
27/07/2018
Holidaymakers are urged to buy travel insurance as soon as their trip is booked as it’s revealed over a third of claims are due to cancelled holidays.

According to industry trade body the Association of British Insurers (ABI), 34% of claims are due to cancelled holidays.

And this can cost travellers dear as the average claim stands at £833, with an overall total of £145m.

Research by Co-op Insurance also revealed that 37% of UK holidaymakers are risking more as they’re not taking out travel insurance at all.

A further one in six said they left it to the last minute as they bought travel insurance the day before or on the day of their trip.

Co-op warns that for families travelling with children, it’s essential to get the right cover in place as it’s research revealed that over a quarter of parents (26%) have cancelled or have considered cancelling a holiday because their child was unwell.

Colin Butler, head of travel insurance at Co-op, said: “It concerns me that so many people are either leaving insurance to the last minute or not taking it out at all. By taking out cover people are covering themselves for scheduled airline failures and sickness.”

Top tips when taking out travel cover

Butler lists these three tips for taking out travel insurance:

  1. Check your insurer covers you for SAFI (scheduled Airline Failure Insurance), protecting you in the event the airline you’re flying with goes bust
  2. Be honest with any medical conditions you may have to ensure that if you do need to claim on your insurance, you’ll be fully covered
  3. Buy as soon as you book. When it comes to travel insurance, it’s always best to take it out as soon as you book a holiday. This way, if there are any unexpected changes or cancellations before the trip, you’ll be covered.

Related: See YourMoney.com’s The essential money-saving guide for your 2018 holiday for more information.

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