Millions `may be overpaying for travel insurance`
2 June 2009
Millions of people who only take one trip abroad this year could be overpaying on their insurance, according to Moneywise.co.uk.
Citing a report by Defaqto, which claims that many people who usually take two or more holidays each year may be cutting down to just one this year, Moneywise said that many consumers may be better off paying for single-trip insurance, rather than annual cover.
Brian Brown, head of insight at Defaqto, said: "For most customers taking just one overseas trip a year will mean that purchasing a single-trip policy makes more sense."
A spokesperson for Think Insure said that even finer details can make a difference to how much customers pay. "A lot of different factors affect insurance premiums. In this example, if a customer is taking fewer holidays than usual, they may need a different policy.
"It`s always worth speaking with an insurance expert before taking out a policy."
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