Research from American Express Insurance Services has shown that 14.5 million Brits are planning to make cut backs on their
travel insurance, as people continue to try and tighten their financial belts.
The survey shows that almost half of people (48 per cent) also plan to make changes to "key financial safeguards" this year, after looking into which monetary products consumers in the UK were planning to stop making regular payments into.
Chris Rolland, head of American Express Insurance Services, said that the rising cost of living meant one in four Brits were finding it hard to pay for adequate travel cover.
He went on to advise that if people were going abroad more than once they might want to consider an
annual travel insurance policy rather than one-off cover as it may avoid them being "financially stung" by high medical bills should an incident occur.
The Telegraph recently reported that fuel charges were going up all over the world, with any plane journey lasting over nine hours subject to a "hefty fee" payable by passengers.
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