Sainsbury’s Bank has conducted a new study that reveals many holidaymakers travelling abroad could be losing out because they have not considered purchasing a single annual insurance policy. For those who travel abroad twice in a year the single policy can save money spent on multiple single trip policies.
According to the bank’s research, 29 per cent of Brits travelled overseas in 2012 at least twice. Of those however just one in every three made the decision to buy an insurance policy that would cover them for the whole year.
Sainsbury’s Bank spokesman, Scott Gorman, said it was apparent that many holidaymakers remain unaware of the significant savings they can make by shopping around and avoiding multiple insurance policies in favour of annual cover.
He explained that an annual insurance policy can often be cheaper for a person who intends to take just two trips abroad.
Gorman added that the cost of a holiday can be cut in many ways, but that not taking out adequate travel insurance should not be one of them and could be a very expensive mistake in the long run.