Travel insurance customers learn half of holidaymakers abandon budgets

Wed, 30 May 2007

New research indicates that almost half of people in the UK do not keep within the limits of their holiday budget, travel insurance customers may be interested to learn.

According to a financing survey from the Post Office Travel Services, 48 per cent of British holidaymakers set a spending limit before they jet off but then fail to stick to the budget when it matters.

Meanwhile, the poll has also discovered that a third of travellers do not bother setting a budget in the first place, with those based in the north-west of England less likely to do so than anywhere else.

Commenting on the findings, Kevin McAdam, head of travel at the Post Office, has advocated setting a budget and sticking to it.

"If you do not have unlimited funds - and not many of us do - it makes sense to set a spending limit, even when on holiday," he said.

Holidaymakers who are able to adhere to a strict financing budget may find they have more money left over for products such as comprehensive travel insurance cover.

Among other features, travel insurance packages typically offer medical financing support in the event that a policyholder falls seriously ill while on holiday.

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