Accident-prone Britons under the age of 30 risk being left out of pocket when they travel abroad without adequate travel insurance.
According to Sainsbury’s Bank, an estimated 1.48 million young Britons will be holidaying abroad without travel insurance. This is whilst they are the group most likely to suffer from a foreign holiday calamity.
In the last five years, nearly a third of those between the ages of 15 and 24 and a quarter of those aged 25 to 34 needed to make travel insurance claims – significantly more than other age groups.
Many of these travel insurance stem from lost money or falling ill while holidaying abroad, the travel insurance provider noted.
Travel insurance manager Robert O’May warned that because it seems that younger people tend to be at greater risk of suffering misfortune on holiday, it is imperative that they have adequate travel insurance.
"Without it, they could find themselves with no assistance and potentially very expensive medical bills. Despite this, they are far less likely to take out cover," he noted.
According to research conducted by Mintel, a fifth of people between the ages 18 and 24 failed to take out travel insurance when they went on holidays last year, compared to only six per cent of those aged 45 to 64 taking the risk.
Sainsbury’s Bank has been named as the "Best Overall Provider" for the second successive year in the 2004 Your Money Direct Awards.
Sainsbury’s Bank opened in 1997 as a joint venture with Halifax Bank of Scotland.
The bank has a range of available financial services, including insurance, loans, credit cards and savings accounts.
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