Despite harder economic times, it has been reported that we feel entitled to travel and take holidays. We feel that nothing is going to come between our enjoyment, regardless of financial circumstances.
However it has also been reported that uninformed consumers are cutting-back recklessly, exposing themselves to considerable financial risk in the process.
“It is worrying that people are planning to cut back on the policies that are designed to protect them during hard times.”
Chris Rolland, head of Amex Insurance Services (Source).
Given that cheap travel insurance can cost no more than a single meal, it doesn’t make any sense to find savings in such a domain.
Why? Because travel insurance offers financial security and stability, at a time when bad luck and expensive holiday losses would force an unwelcome strain on travel budgets. Can we afford to have luggage go missing or get stolen? Adding up the value inside a typical suitcase; clothes, shoes, accessories, presents, souvenirs, all combine to a significant total sum.
With travel insurance cover providing payouts of thousands for just baggage, and millions for health complications, it is a more desirable option than finding the money from savings during a recession. This is advice well worth heeding.
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