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A research has indicated that one in four Brits (24 percent) still plan to go on holiday this year without travel insurance.

Published: 19 Sep 2008

A research has indicated that one in four Brits (24 percent) still plan to go on holiday this year without travel insurance.

Referring to its latest research, American Express Insurance Services said as Britons find their finances further stretched, they are being forced to make cut backs, risking a holiday without cover.

The findings of the latest research indicate that such Brits face the possibility of having to spend thousands of pounds on repatriation and medical fees as they plan to axe their travel insurance this year, leaving them exposed and vulnerable. These findings are part of a wider probe by the insurance provider which revealed that nearly half of Brits (48 percent) plan to cut corners on key financial safeguards this year.

Chris Rolland, head - American Express Insurance Services, said, "As the cost of living rises and there is less money left over at the end of each month, our research shows that one in four Brits are struggling to meet the cost of holiday insurance. If it is a case of people cutting back on travel insurance in order to afford their holidays then perhaps they should think twice before booking. Should something happen, the current economic market means that the last thing Brits need now is an unexpected bill."

"If people are planning more than one trip this year, they should opt for an annual travel insurance policy instead; it will save them more money in the long run and help them to avoid being financially stung while they should be relaxing on holiday. American Express is more than just a card; we offer hassle free insurance and a five percent discount if a policy is bought online," recommended Rolland.

The research was undertaken by YouGov amongst a weighted, GB representative sample of 2,082 people. The research examined the financial products that Brits are planning to stop making regular payments to as the rise in the cost of living starts to be felt.