Article date: 3 August 2001
Last-minute holidaymakers could be putting themselves at riskthis summer, a new study shows today.
More than six million Britons will jet off this summer on alast- minute break. But research commissioned by Norwich Unionreveals that over one million of these bargain hunters won’tbe covered by travel insurance, and the main reasons are that theydon’t think it is necessary or run out of time.
Norwich Union’s ‘Lastminuteitis’ study alsoshows that men are the worst offenders – they are almostthree times more likely than women to forget to book travelinsurance for a last- minute jaunt.
Frankie Nicholson, market development manager at Norwich UnionInsurance, said: “The results from our research are worrying,with almost a million last-minute travellers not arranging coverbecause they think travel insurance isn’t necessary, nevertake it out or simply run out of time.
“Our most common insurance claims are for lost or damagedbaggage and emergency medical expenses, so what was supposed to bea cheap holiday can quickly become a very expensive one if you arenot adequately covered.
“As a nation we’re travelling more than ever before,a quarter of people are taking three holidays or more a year. Sowe’re highlighting the importance of travel insurance for allholiday- makers and for regular travellers to consider an annualtravel insurance policy. Annual insurance often works out cheaperthan taking out multiple policies because it covers an unlimitednumber of trips in a year - provided each trip is no more than 31days.”
Norwich Union has produced some top tips on taking out travelinsurance:
- Before you travel, check what is covered by your insurancepolicy. Make sure it covers the country you are travelling to,your length of stay, and any hazardous or sports activities
- Don’t feel under pressure to take out travel insurancefrom your tour operator or travel agent, and shop around if youthink you can get a better deal yourself
- If you need to make a claim, you’ll need to support itwith receipts
- Read the small print if you are buying a package deal,don’t assume it includes travel insurance
- Think about how many times you travel each year, and whetherit’s more viable to get an annual travel policy
- If you run out of time you can sometimes arrange yourinsurance at the airport or on the internet
Notes to Editors:
*Norwich Union commissioned Taylor Nelson Sofres to conduct anindependent survey of more than 1,000 adults. The survey wascarried out in July 2001.
CGU plc and Norwich Union plc merged on 30 May 2000 to createCGNU plc, the UK’s largest insurance group and one of thetop-five insurers in Europe with substantial positions in othermarkets around the world, making it the world’s sixth largestinsurer based on gross worldwide premiums.
CGNU’s principal business activities are long-termsavings, fund management and general insurance, with worldwidepremium income and retail investment sales from ongoing business ofover £27 billion and assets under management of more than £200billion.
From October 2000, the combined life and pensions, generalinsurance and retail fund management businesses in the UK operateunder the Norwich Union brand, while the institutional investmentbusiness operates under the Morley Fund Management brand.
Norwich Union Insurance Limited Registered in England Number99122. Registered Office 8 Surrey Street Norwich NR1 3NG
Member of the General Insurance Standards Council
Norwich Union’s news releases are available on thisinternet site.
For further information contact Gabrielle Brewer or AnjaKueppers at QBO on 020 7379 0304 or Liz Nicholson/Jenny Chapman atNorwich Union on 08703 666 868