A quarter of the holidaymakers travelling abroad this summer will depart without checking what their holiday insurance actually covers, according to new research.
HSBC found that 27 per cent of people depart on their holiday with little or no idea what exactly is covered by their insurance policy, putting them at risk of suffering should they need to make a claim.
The study also found that just 45 per cent of holidaymakers will depart with the complete knowledge of what their policy covers.
"Few people would dream of taking their family on a holiday abroad without travel insurance, but many are potentially leaving themselves and their loved ones exposed by not ensuring that they are adequately covered by the policy they have," explained Michael Oliver, head of current accounts at HSBC.
"This is especially true of holidaymakers who rely on travel insurance that comes with their current account or credit card, as some providers may offer a policy that covers less than expected or has special conditions attached."
Recently, the Association of British Insurers (ABI) said it was foolish to opt for the cheapest travel insurance deal available.
"Insurance is a product, and like many things you buy, you tend to get what you pay for," warned ABI spokesperson Malcolm Tarling. ©Adfero Ltd 2007
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