Holidaymakers taking a gamble by failing to obtain travel insurance

Many Brits are taking a gamble by failing to obtain travel insurance prior to going on holiday, new research has suggested.

Carried out by the Money Advice Service, the study revealed that while 53 per cent of survey respondents are looking to take a vacation this summer, 51 per cent of them have yet to get hold of this type of cover.

In addition, it was shown that 34 per cent of holidaymakers questioned have no intention of buying travel insurance.

This means that while 13 million people taking a break abroad in the coming months have yet to put pen to paper on a deal of this type, 8.8 million do not plan to do so at all.

However, failing to take out suitable protection could come back to haunt travellers if something goes awry on their trip.

The Money Advice Service – which started life as the Consumer Financial Education Body in 2010 before changing its name in 2011 – noted individuals who go away without cover will be required to account for emergency expenses themselves, while the typical cost of medical treatment abroad stands at £2,040.

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