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Brits will drop travel insurance
19 September 2008
A new study suggests that a number of British holidaymakers will go abroad with travel insurance this year.
Research by American Express Insurance Services revealed that one in four people (24 per cent) plan to go on holiday without travel insurance as a result of the current economic climate.
Chris Rolland, head of American Express Insurance Services, said: "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."
According to Mr Rolland, if people are planning more than one trip this year, they should opt for an annual travel insurance policy in order to save money.
"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," he added.
American Express Insurance Services found that 48 per cent of Brits plan to cut corners on key financial safeguards such as life insurance this year because of the credit crunch.
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