looked at the cover before deciding which policy to buy, the majority were independent travellers, with just 18% taking package holidays.
The survey also shows that despite the growth in annual policy sales, most holidaymakers are not aware of the savings they can make by buying 12-month cover.
It calculates consumers take 8m second or third holidays a year, yet only 8% of those questioned take out annual cover. Those that do are more likely to be travelling long haul – 22% compared to 10% of those holidaying in Europe.
American Express head of insurance services Sarah Harper said the poll was designed to gain an insight into consumers’ buying habits so the company could tailor policies to meet their needs.
“I am not really surprised they buy on price as it is an on-going battle to make people aware of the importance of cover,” she said.
“But I am mortified that they do not read the policy enough to take the emergency numbers. We clearly need to do more to get across how important that is when we invite renewals.”
CONSUMERS buy travel insurance on price and never bother to look at the cover, new results from a survey by American Express and National Opinion Poll show.
Of the sample of 2,734 adults interviewed for the British National Travel Survey, nearly half said they chose travel insurance on cost or because it was included in the holiday price.
Less than one-third said they read the small print on their policy document. This contains details of levels of cover and emergency phone numbers.
Of the 20% who said they looked at the cover before deciding which policy to buy, the majority were independent travellers, with just 18% taking package holidays.
The survey also shows that despite the growth in annual policy sales, most holidaymakers are not aware of the savings they can make by buying 12-month cover.
It calculates consumers take 8m second or third holidays a year, yet only 8% of those questioned take out annual cover. Those that do are more likely to be travelling long haul – 22% compared to 10% of those holidaying in Europe.
American Express head of insurance services Sarah Harper said the poll was designed to gain an insight into consumers’ buying habits so the company could tailor policies to meet their needs.
“I am not really surprised they buy on price as it is an on-going battle to make people aware of the importance of cover,” she said.
“But I am mortified that they do not read the policy enough to take the emergency numbers. We clearly need to do more to get across how important that is when we invite renewals.”