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Susan Care

Susan works as editorial assistant and researcher on personal finance stories. She also writes on a number of breaking news stories, as well as offering great money saving tips to shopping-savvy consumers.

Brits going on fewer holidays and want financial protection

A study by ABTA has revealed that Britons are taking fewer holidays this year and rate Travel Insurance as an essential component.

New research from the Association of British Travel Agents (ABTA) show that an increasing number of British are booking package holidays, go on fewer holidays and are seeking financial protection.

The study found that we're taking fewer holidays this year than last. UK adults taking an average of 3.51 holidays in 2012 against 3.82 in 2011.

Just under half (48%) of the people polled opted for an overseas package holiday instead of independently booked travel benefiting from the cost effectiveness and security of the package holiday.

An even greater proportion (77%) of holidaymakers said that financial protection was essential when booking a holiday.

Mark Bower, MoneyMaxim's Managing Director commented: "Holidays are a big investment so it's no surprise that travellers want financial protection. Travel insurance is a great financial product which could give you peace of mind and let you relax knowing that should anything happen you're financially covered.

"It can be harder for older travellers to find the right kind insurance which will accommodate their needs. This is why MoneyMaxim.co.uk offers a range of specialist travel insurance including diabetes travel insurance, over 70 travel insurance and more.

"Not only can travel insurance protect the obvious medical and lost luggage risks, but many policies also offer scheduled airline failure insurance, which for those booking their flights independently is invaluable added protection. Travellers can compare different rates and levels of cover to find the best possible deal for them.”

For a straightforward travel insurance, start with the MoneyMaxim travel insurance comparison service. If you have more specialised needs, try our Insurance Hub whether it's age, medical conditions or extreme sports, you're sure to find travel insurance cover to suit you.