AXA Insurance have released new research which shows UK holidaymakers spend £97.3 billion of their savings on holidays .
Of that figure, the majority of the cash (£45 billion) is spent on booking the holiday itself, while £29 billion goes on spending money and an extra £7 billion on buying new clothes for the trip abroad .
Even though a total of £4.2 billion is being spent on travel insurance, the figure doesn’t come close to the other holiday expenditure figures, which stresses the fact that many people are still not considering this as a holiday priority, as stated by AXA .
Furthermore, there is a shortage in the number of holidaying Britons who think that travel insurance documents are not needed.
The head of lifestyle protection and household claims at AXA Insurance, Nick Kidd, said: "With so much being spent on holidays and traveling abroad, it is now more important than ever to have travel insurance."
Nevertheless, he added that many people forget to buy their insurance or see as it as a low priority, as they get caught up in the excitement of the booking process.
Travel insurance is as important to a holidaymaker as their passport or toothbrush, Mr. Kidd concluded.
AXA released further research, which suggests that the countries such as Spain, France, and Italy are countries that Britons are spending most of their money on visiting as well as the rest of the UK .
In addition, one in ten people expect to take between four and five holidays in one calendar year.
AXA Travel Insurance is available for single or annual multi trips. The main benefits of the cover include paid medical expenses up to the cost of £5 million, paid legal expenses of up to £25,000, and up to £1,500 for lost baggage.
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The Billions Brits Spend On Holidays Tue, 10 Oct 2006      Recommended linksOnline travel portalFind great deals on flights Find your holiday accommodation online Holidaymakers spend less to travel more Holidays with an ex are a recipe for disaster Holidaymakers find holidays abroad expensive |
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