Holidaymakers have been advised they may be better off arranging annual travel insurance cover instead of single trip insurance.
Sean Gardner, chief executive of financing website MoneyExpert, has made his comments following an analysis of pricing trends in the travel insurance sector as a whole.
According to the business’ research, the average cost of a single trip insurance package for a family heading to Europe for a week is £42.86.
And while the average for annual travel insurance protection apparently stands at £113.86, the financing portal points out that some annual travel insurance policies are available for £35.
“Holidaymakers often think that single trip cover is simple and cheap but the truth is it’s often not best value for money,” Mr Gardner remarked.
Nevertheless, he also reminded travellers that it is important to examine the terms of the travel insurance policy rather than concentrating exclusively on potential premium savings.
“Focusing on price alone can mean holidaymakers will be left with insurance that is not worth the price,” he argued.
Earlier this week, financing website Find.co.uk warned holidaymakers taking cameras and laptops overseas that many travel insurance policies feature a £300 limit on the amount that can be paid out for an individual item.
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