Travel insurance market offering great deals, reveals research

Tue, 16 May 2006

With an array of competitive deals around, it is an ideal time to shop around for travel insurance, reveals new research.

According to the market research company Defaqto, there has never been a better time to buy travel insurance, with policies available for as low as £8 or £9 for a two-week getaway.

Insurance prices have plummeted to levels last seen in 2002 as a result of an increasingly competitive market place. Defaqto reports that around £700 million of gross premiums are written annually across the 170 key providers.

However, consumers are also being urged to avoid solely chasing the cheapest travel insurance deals and properly assess what level of cover their holiday requires before shopping around for the most suitable deal.

"With premiums at historically low levels there is no excuse to travel abroad without insurance," commented Brian Brown from Defaqto.

"However, while these lower premiums are very welcome, consumers need to be careful that the policies do not come at the price of reduced cover," he added.

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