Single trip insurance 'better than annual deals'

Defaqto has said that people may be better off taking out single trip travel insurance for their holidays.

New research released today (June 22nd) shows that people heading off on holiday this summer may be better off taking out single trip insurance rather than relying on annual insurance policies.

Defaqto's latest travel insurance report advises holidaymakers going away on single trip travel to take out individual policies for their journey as opposed to yearly packages as it will save them up to 147 per cent on their insurance outlay.

Thousands of Brits will be looking forward to their holidays at this time of year, with some jetting off abroad and others choosing to stay in the UK.

However, all travellers are advised by experts to take out travel insurance before they leave home in order to avoid incurring expensive costs should they suffer an injury or have goods stolen while away.

Brian Brown, author of the report and head of research at Defaqto, said: "Many people are having to rein in spending so it makes sense to buy a policy to cover what you actually need."

Meanwhile, it was revealed by Saga yesterday that Britain's over-50s spent around £4 billion on their credit card while on holiday last year.

By Emma North