Travel insurance provider Nationwide has offered advice to holidaymakers this summer to avoid “financial pitfalls abroad”.
The company states that in the last 12 months, 13 per cent of UK travellers went abroad without taking the necessary travel insurance cover.
UK residents should ensure that they take out adequate travel insurance and shop around to get the best deal, particularly when booking through a travel agent or independently, Nationwide believes.
Stuart Bernau, Nationwide’s executive director, commented: “Everyone looks forward to their holidays but, amidst all the excitement, nobody wants to find themselves taking unnecessary risks or incurring unnecessary charges.
“Quite frankly, some organisations are making excessive profits out of their customers through the cost of foreign currency, travel insurance and … card use abroad.
“To make matters worse, some of these costs are not exactly transparent.
Nationwide also offers advice to UK travellers planning to use credit cards abroad, to be aware of any possible charges and fees and to be careful if their card uses dynamic currency conversion.
The Association for Payment Clearing Services recently stated that last year around £21 billion was spent on UK credit cards abroad.
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