Two in three Brits plan to take at least one holiday this year

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Two thirds (67%) of Brits are planning at least one holiday in 2022, regardless of the rising price of dwelling squeezing family funds. One quarter (25%) of Brits planning a holiday intend to journey in August, in accordance to new analysis from comparethemarket.com.

However, current journey disruption seems to have made holidaymakers extra cautious. Over a 3rd (36%) are extra probably to take out journey insurance coverage following the disruption. Thousands confronted practice, ferry, and struggle cancellations over Easter, because the journey trade continued to reopen following Covid-19 closures.

Single-trip premiums are the most well-liked type of journey insurance coverage, utilized by over two fifths (44%) of Brits. Just over a fifth (23%) of Brits use multi-trip insurance coverage, taking out one coverage to cowl a number of holidays. Concerningly, over half (54%) of these with multi-trip insurance coverage allowed their coverage to lapse through the pandemic, leaving many uninsured because the journey trade reopens.

Despite current journey disruption, nearly one third (32%) of Brits planning a holiday in 2022 won’t take out any journey insurance coverage. These uninsured travellers threat shedding cash if one thing goes mistaken throughout their holiday. For instance, medical prices can run into 1000’s of kilos if you happen to want therapy or evacuation overseas.

Whilst holidays stay in style for many, others are having to minimize down on the frequency of their holidays because the cost-of-living rises. Over 1 / 4 (26%) haven’t booked a holiday for 2022 and haven’t any plans to achieve this. comparethemarket.com’s newest Household Financial Confidence Tracker discovered that many households are chopping again on discretionary spending due to rising costs. Over half (54%) are chopping again on consuming out, while others are spending much less on garments (48%) and holidays (44%).

Alex Hasty, director at comparethemarket.com, stated: “Despite price rises, two-thirds of us are planning a well-deserved break after a tough few years. However, you risk unforeseen costs if something goes wrong on holiday and you have no travel insurance in place – a money worry many of us can do without right now. If you think you have multi-trip insurance, it’s a good idea to double-check your policy with your provider, as many policies will have lapsed during the pandemic.”

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