Research shows holidaymakers are not cutting back on insurance
24th July 2008
As the credit crunch hits consumers hard, new research has revealed that people are "downsizing" or cutting back the cost of their holiday but they are still getting travel insurance for their trip.
According to a study by American Express, 85 per cent of UK residents who are planning to travel abroad this summer have said they will take out an insurance policy before they go.
The Guardian's money advice section warns travellers to make sure they have adequate insurance for expensive items and this may mean taking out separate camera insurance.
So, whilst people are not willing to cut costs on important items such as insurance, Ian Rumgay, European communications manager at travel advise company, TripAdvisor, has suggested other ways for consumers to reduce their holiday spend.
Rumgay said: "There are a lot of attractions that are free and also, if you shop around, there are a lot of restaurants which offer excellent value for money with three course meals for under £15 or even £12."
Research from price comparison site Kelkoo recently revealed that searches for holidays in the UK were up by 39 per cent in the last twelve months.
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