New research from InsureandGo (www.insureandgo.com), the leading travel insurance company, has seen a dramatic increase in people buying its insurance policies at the last minute, and it believes that this is because people are taking advantage of the bargain deals being offered by holiday companies fighting for business in a tough economic climate. The average time between purchasing a travel insurance policy and departing on holiday has decreased by 25% between January 2007 and January 20091.
The company estimates that around 796,000 policies were sold this January by the UK travel insurance industry to people who were departing on holiday within three days of their purchase2.
Holiday companies are currently offering spectacular last-minute deals such as 60% off luxury hotel stays in Dubai or 50% off trips to Egypt or Greece3.
Perry Wilson, founder of InsureandGo, explains: “People are buying their insurance at the last minute a lot more this winter than they have done in the last two years. We think this is a good indicator that people are booking last-minute holidays, probably due to the competition on the high street and from online tour operators. Holidaymakers should remember though, that however late they book their holiday, they should always arrange their travel insurance as soon as they have made their booking to ensure they are covered for cancellation.”
Standard (Silver) Prices
Europe, including 17 days winter sports
Annual, one adult up to three under 18s = £38
Annual, two adults up to six under 18s = £68
Worldwide including US/CAN and 17 days winter sports
Annual, one adult up to three under 18s = £54
Annual, two adults up to six under 18s = £84
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Notes to editors:
Policy prices correct as at 3 February 2009.
1) Based on InsureandGo sales data
2) Based on InsureandGo sales data and its market share
3) Research on 3rd February 2009 including lastminute.com and dreamdubai.com
About InsureandGo
InsureandGo (www.insureandgo.com) was established in 2000 and has grown rapidly to become the UK’s largest direct travel insurance specialist. Over two million holidaymakers a year choose to cover their travels with its low cost, high value policies.
All InsureandGo policies cover children under 18 for free and include over 40 adventure sports, while its annual policies include winter sports automatically.