Staycationing? You still need insurance - Travel insurance - News | moneyfacts.co.uk

News

Moneyfacts.co.uk News brings you the latest financial & economic news & reviews of the best products in the UK by our team of money experts.

Staycationing? You still need insurance

Staycationing? You still need insurance

Category: Travel insurance

Updated: 27/06/2016
First Published: 27/06/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Many people will be looking forward to a holiday at this time of year, but it won't always be on foreign soil. Indeed, more and more people are realising the delights of "staycationing", but what they may not realise is that insurance is still important – and that by failing to be insured, they're putting their holiday enjoyment in jeopardy.

New research from Policy Expert shows that 84% of respondents are planning on taking trips in the UK this summer, and they'll be taking an average of £676 of valuables with them when they head off. However, 63% could be doing so uninsured, with this proportion admitting that they don't have any away from home cover as part of their home insurance policy.

And what about travel insurance? You may think it's unnecessary when on home soil, but the same kind of concerns can still apply – what would happen if your holiday was cancelled due to unforeseen circumstances, for example? Without the right travel insurance it could be money down the drain, but despite this, only 32% of respondents said they'd take out travel insurance for a staycation.

Failing to be properly covered could well be a false economy, particularly with 8% of respondents having damaged, lost or had valuables stolen while travelling in the UK – and 31% of those didn't claim on their insurance. The most common items to befall such travel tragedies were mobile phones, cameras, wallets/purses and jewellery, and considering how expensive such items can be to replace, doesn't it make sense to have the necessary insurance – and to claim on it when necessary?

Adam Powell, head of Operations at Policy Expert, spells it out: "Wherever you're holidaying this summer, whether that be on the white shores of the Caribbean or a pebbled beach in Wales, it's important to ensure you're properly insured and that your belongings are covered against loss and theft."

He points out that, if you don't want to take out a separate travel insurance policy, checking the small print in your home insurance to make sure it includes away from home cover is a good place to start, but why would you want to forego travel insurance? Considering how cheap it can be it makes a lot of sense to invest in suitable cover, and that way you can be confident that you're prepared for every eventuality.

What next?

Compare home insurance and travel insurance policies for complete protection, no matter where you are

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

Travel insurance cost is prioritised

It’s that time of year again: holidaymakers are already planning their summer breaks, yet while this organised approach should be celebrated, it’s equally as important to make sure you have the right kind of travel cover in place.

Moneyfacts Travel Insurance Star Ratings announced

Finding the right travel insurance policy is a vital part of holiday planning, yet it can be easier said than done. With so many to choose from it can be tricky to know where to start; that’s where we come in.

Beat the January blues – book a holiday!

Are you feeling the January blues? You’re not alone. The festive season has come to an end and the New Year celebrations are already a dim and distant memory, so how can you beat the blues? Book a holiday!
 
Close