Travel insurance is being shunned by over one million holiday makers who have made early holiday bookings this year, according to findings from Sainsbury’s Finance.

Travel insurance is being shunned by over one million holiday makers who have made early holiday bookings this year, according to findings by Sainsbury’s Finance.

This is despite the many price comparison web sites, such as Confused.com, that can help holiday makers find cheap travel insurance and yet ensure that they are receiving the best cover.

1.14 million holiday makers who have already booked their holidays for this year have decided not to take out travel insurance and, alarmingly, have no intention of purchasing travel cover, the research has found.

With many holidays being booked now for later in the year, Sainsbury’s Finance is urging people to protect their holiday booking, as should they fall ill and be unable to travel they will lose the cost of their trip.

Joanne Mallon, Travel Insurance Manager, Sainsbury’s Finance, said: “Anyone travelling abroad on holiday should ensure they have good quality insurance. It’s easy to forget to buy travel insurance during the excitement of booking your holiday, but cover that will provide assistance when abroad and for cancellations should you fall ill before your trip for example, really is as essential as your passport.”

The research has also discovered a reduction in the number of people who have made early bookings this year. Although around 8.9 million adults plan to book a vacation before the end of February, this figure is down 19% compared to last year.

The prolonged nature of the recession may be forcing people to cut back on their holiday plans this year.

[Money High Street]