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Travellers top up on travel insurance ahead of Brexit

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Holidaymakers expect higher travel insurance bills this summer, with 40% believing they will need to ensure more comprehensive cover in the wake of Brexit, according to research from Consumer Intelligence.

Those who have previously travelled in the EU without travel insurance, say they are more likely to buy it to cover holidays this year. Around 12% of those questioned who admit to sometimes travelling without insurance say they will now buy cover for Europe.

Nearly one in four (24%) say they are more likely to opt for more expensive travel insurance that provides better coverage when travelling in the EU.

Previously, travellers to Continental Europe could rely on the European Health Insurance Card (EHIC) to cover most of their medical bills in the EU. The Association of British Insurers has said that if the UK leaves without a Withdrawal Agreement, the EHIC card will no longer apply.

To date, holidaymakers are undaunted by the no-deal Brexit uncertainty, in spite of March 29th falling in the middle of school holidays. 28% of people have already booked holidays for that period.

John Blevins, Consumer Intelligence insurance pricing expert said: “There is still great uncertainty about the final shape of the UK’s Withdrawal Agreement from the European Union and what impact it will have on travel insurance.

“Holidaymakers seem resigned to having to pay more for insurance after Brexit although in general the biggest influence on prices is claim costs which have edged up recently as increasingly we go on holiday with more expensive items. Going on holiday without travel insurance is not a risk worth taking so it is encouraging that more people intend to buy insurance for European holidays in the future.”

Consumer Intelligence’s research found around 7% of customers with annual travel insurance policies have brought forward the renewal date to ensure they are covered throughout the Brexit period while 31% say their annual policy already covers them for summer holidays.

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