New research(1) from Sainsbury’s Bank Travel Insurance reveals an estimated 27.4 million Britons will enjoy a holiday escape in 2013, spending a collective £22.75 billion. Those planning on taking a holiday in 2013 say that while they will spend £830.61 on the cost of their holiday alone, an increase of 8% or £65.14 (collectively, £0.65 billion more) from 2012, many are looking to get the best value break possible(2).
In a bid to manage costs, some 19% of holidaymakers plan to book it independently and will go direct to their chosen airline and accommodation provider(1). Sainsbury’s Bank Travel Insurance is encouraging these people to check that their travel insurance policy protects them from potential disruptions such as the airline going out of business or strike action taking place.
Sainsbury’s Bank Travel Insurance is also urging travellers not to try to save money by reducing their level of travel insurance cover, which could prove extremely costly in the long run. This is especially pertinent if the holiday has been booked independently and is not part of a package holiday. These holidays are not protected by ATOL which will ensure, should the travel company collapse while they are away, that they can finish their trip and return home, or if they are yet to set off, that they receive a refund.
Other cost saving measures travellers plan to take include sticking to a strict spending limit while on holiday (16%), going on the most cost-effective holiday possible (15%) and planning a few smaller trips and weekends away instead of a long holiday (10%)(1).
The findings reveal that one in 10 (10%) people planning to go away intend to take a few shorter trips and weekends away instead of a big holiday. Just 16% of respondents said they intend to go on the holiday of their choice and aren’t worried about the cost. Of the 45% of Brits planning a foreign holiday; 18% plan to stay in a hotel, 11% with family and friends abroad, 10% say they will book a self-catering break and 9% are planning an all-inclusive holiday(1).
Scott Gorman, Head of Sainsbury’s Bank Travel Insurance commented: “It is interesting to see that those people who are planning a holiday this year intend to spend more on average, yet many are still looking to manage their costs. It’s essential that those looking to manage their holiday budgets do not sacrifice good quality travel insurance, as they could otherwise end up with some very expensive bills that they’re unable to claim for.
“Our research(1) indicates that almost six million people are planning to book a holiday independently to save money. These travellers need to ensure their travel insurance, like our Standard policy(3), will safeguard them against potential issues such as cancellations, airport strike action or airlines going into insolvency.”
Around a quarter (25%) of those planning a holiday this year say they booked it in 2012, compared to 18% at the same time in the previous year(4). However, nearly three million (2.95 million) Brits (10%) plan to book their holiday at the last minute, as they hope this will result in getting the best possible deal.
Britons are also looking to cut costs by holidaying closer to home, with two fifths (40%) saying they will holiday in Britain this year. Of those planning on staying in the country, 16% will stay in hotels, 13% in self-catering accommodation, 12% with family and friends and 8% will have a camping or caravan holiday(1).
To obtain a Sainsbury’s Bank Travel Insurance quote you can log onto www.sainsburysbank.co.uk or call 0800 316 1452. Lines are open 8am – 8pm Monday to Friday, 8am – 7pm Saturday, and 9am – 5pm on Sunday.
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For further information, please contact
Ian Morris / Charlotte Pascal
Citigate Dewe Rogerson
020 7282 1049 / 1021
Notes to editors:
(1) Sainsbury’s Bank commissioned ICM on behalf of its travel insurance division. ICM interviewed a random sample of 2,000+ adults aged 18+. The interviews were conducted via an online omnibus survey between 30th November and 2nd December 2012. Surveys were conducted across Great Britain and the results have been weighted to the profile of all adults 18+. ICM is a member of the British Polling Council and abides by its rules
(2) Based on a reported spend of £765.47 per person in 2012 and £830.61 per person in 2013.
(3) Available on Standard cover option; full policy details are available at www.sainsburysbank.co.uk
(4) Sainsbury’s Bank commissioned ICM on behalf of its travel insurance division. ICM interviewed a random sample of 2,000+ adults aged 18+. The interviews were conducted via an online omnibus survey between 8th and 11th December 2011. Surveys were conducted across Great Britain and the results have been weighted to the profile of all adults 18+. ICM is a member of the British Polling Council and abides by its rules.
(5) Terms and conditions apply. To receive your online discount, remember to have your Nectar card with you. For full terms and conditions see www.sainsburysbank.co.uk
Sainsbury’s Bank Travel Insurance is provided by FirstAssist Insurance Services Limited and underwritten by Great Lakes Reinsurance (UK) PLC. Both companies are authorised and regulated by the Financial Services Authority.
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