Winter Holiday Warning As New Figures Reveal That 11.3 Million People Travelled Without Insurance This Summer

    LONDON, ENGLAND, November 12, 2009 /24-7PressRelease/ -- Sainsbury's Finance is warning winter holidaymakers to make sure they have adequate travel insurance, as it estimates that some 11.3 million Britons, over a third (37%) of those who went on holiday this summer, did so without any travel insurance to cover their trip. The new research from Sainsbury's Travel insurance indicates that those under the age of 34 were most likely not to bother buying travel insurance.

With the travel insurance industry paying out just under GBP400 million each year according to the Association of British Insurers, Sainsbury's Finance estimates that those travelling without insurance have collectively faced costs of more than GBP57 million which would otherwise have been covered by their insurer.

Age group Percentage of people without travel insurance on their summer holiday
Number of people without travel insurance on their summer holiday
16 - 24 39% 1.57 million
25 - 34 43% 1.94 million
35 - 44 32% 1.91 million
45 - 54 37% 2.00 million
55 - 64 36% 1.91 million
65+ 36% 1.94 million

It is estimated that some 39% (1.6 million) of those aged 16-24 years and 43% (1.9 million) of those aged between 25-34 who travelled abroad this summer, did not or did not intend to take out travel insurance.

The most common reason for people not taking out travel insurance was because they felt they did not need it, with just over 2 million people (18%) saying so. Another 1.9 million people (17%) not taking out cover said that they could not afford it, which may be a reflection on the current economic climate.

Sam Marrs, Sainsbury's Travel Insurance Manager, says: "Buying travel insurance should be considered a holiday essential. It is very worrying that many people feel that they do not need travel insurance as no-one can guarantee a 'hiccup-free' holiday. We are very concerned by our research findings and would strongly urge winter holidaymakers to purchase a good quality policy before they go, as winter breaks, especially those involving skiing and snowboarding, can often lead to more claims than summer vacations.

"There are so many events beyond your control which could easily occur when you're away, such as losing luggage or money, falling ill or having to cancel at the last minute or fly home due to a family emergency. The costs of such unforeseen events can be significant and good quality travel insurance will relieve the financial strain and ease your stress."

On a location basis , those in the East Midlands and East Anglia were the least likely to take out travel insurance for their summer holiday, with 44% of those taking a break saying that they would not bother. Those travelling from the North this summer were the least likely to neglect purchasing insurance - with 72% saying they would buy cover.

Table of people who don't intend to buy travel insurance
Location Percentage of people without travel insurance on their summer holiday
Number of people without travel insurance on their summer holiday

East Midlands/Anglia 44% 1.34 million
West Midlands 42% 1.24 million
London 39% 1.51 million
South East 38% 2.44 million
Yorkshire/Humbs 37% 0.99 million
South West/Wales 35% 1.45 million
Scotland 32% 0.81 million
North 28% 1.20 million

To obtain a Sainsbury's Travel Insurance quote you can log onto www.sainsburysbank.co.uk or call 0800 316 1452. Lines are open 8am-8pm Monday to Friday and 8am - 7pm Saturday and 9am - 5pm on Sunday.

For further information, please contact:
Phil Anderson / Georgiana Varey
Citigate Dewe Rogerson
020 7638 9571

Notes to Editors:
(1) Based on Sainsbury's Finance analysis of data from GfK NOP. 1,000 people were interviewed by GfK NOP between 31st July - 2nd August 2009. The consumer omnibus research conducted by GfK NOP uses a large sample size that reflects the demographic profile of GB. Given this it is possible to extrapolate figures and make projections from the research results within appropriate confidence intervals.

Sainsbury's Finance:
To view our latest press releases and product information, please visit the Sainsbury's Finance online media centre at www.sainsburysfinance.co.uk/media.
Sainsbury's was the first major British supermarket to open a bank, commencing trading in February 1997. Benefiting from a fantastic, trusted brand that enables us to combine the shopping experience with personal finance, Sainsbury's Finance provides a range of quality products including insurances, credit cards, savings and loans. Our proposition is to make shopping more rewarding by offering customers great products at fair prices, while consistently rewarding shoppers for their loyalty and being easy to do business with at all times. Our products consistently top Best Buy tables and regularly win awards for quality, price and service.
Sainsbury's Finance recent awards include Best Online Credit Card Provider / Best Direct Home Insurance Provider, Your Money 2009
Sainsbury's Finance is a joint venture between J.Sainsbury plc and Lloyds Banking Group.
For further information and general Sainsbury's Finance enquiries customers can call the freephone number on 0500 40 50 60 or visit www.sainsburysfinance.co.uk

Sainsburys Finance Travel Insurance is arranged and administered by FirstAssist Insurance Services Limited on behalf of the insurer, Great Lakes Reinsurance (UK) PLC.

FirstAssist Insurance Services Limited (FISL) is one of the UK's leading providers of tailored, flexible white-label specialist insurance solutions and has recently been named as one of the UK's fastest growing companies in the Sunday Times 'Buyout Track 100'.

FISL has five key areas of insurance expertise: travel, protection, budget health, legal protection and small business, covering over 2m people in the UK. Driven as a specialist business by an entrepreneurial, commercial management team, FISL provides a unique range of products and marketing solutions for Banks, Insurers, Affinity Organisations, Corporates, Intermediaries and SMEs.

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