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New research from Sainsbury’s Bank suggests that one in 12 summer holidays will not be insured.
On average, people intend to spend around £1,604 on booking their main summer holiday this year, and take belongings worth £790 with them yet 8% of people will not take any travel insurance to cover this.
This means that up to £4.19 billion worth of holidays and £2.07 billion of possessions that people intend to take with them will not be covered.
Robert O’May, travel insurance manager, Sainsbury’s Bank said: "It’s staggering that despite quality travel insurance such as ours starting from as little as £22 for 14 nights in Europe, some 2.61 million people will risk losing a fortune this year by having no cover against a holiday calamity."
"It’s also important to remember that the new government EHIC form like the E111 before it is not an insurance policy. It provides emergency medical care only, which in some destinations may be very limited."
The bank’s research identified that 6.36 million people intend to spend more than £2,000 on their summer holiday this year, but over 146,000 of them will not have travel insurance.
On a regional basis, people in London will be the biggest spenders on booking their summer holidays, and the worst offenders for not having travel insurance will be holidaymakers in the South-East.
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