Cover is king, not cash when it comes to holidays

Cover is king, not cash when it comes to holidays

Aug 25, 2018

 As a new survey reveals that 63 percent of Brits worry most about not having enough cash to spend on holiday, travel tech specialist Aquarium Software argues many more should be concerned instead about not having any travel insurance.

The survey from First Direct suggests cash is very much still king when it comes to traveller priorities but as 6.5 million Brits jet off for the school holidays, no one in the survey expressed any thoughts on the one thing that could solve many of these money worries – comprehensive travel insurance.

Research by Aviva found 26 million of us do not purchase insurance at the same time we book our holiday, while a staggering 23 per cent don’t buy travel insurance at all.

Aquarium is using its cutting-edge software and Smartphone apps to help insurers bridge the gap and encourage more people to invest in cover.

“Survey after survey shows money worries prey on our minds, but holiday is not the time to cut insurance corners,” said Aquarium Software Director, Mark Colonnese.

“65 percent fear cards being stolen and two thirds fear losing cash abroad.

Insurance never makes these lists, yet comprehensive cover could cap all the worry and we could all spend more time relaxing and enjoying the most important two weeks of the year,” added Mark.

“Brits spend £4,792 on the average family holiday and having spent all this money, surely protecting such an investment makes complete sense,” added Colonnese.

“With family insurance available for as little as £50, it remains a puzzle why more of us are not covered.

The risk of health problems; cancellations; crime; losing pounds and possessions; plus, the cost (emotional and financial) of resolution and replacement, makes insurance a no brainer.

Apps can help educate people about the importance of travel insurance, by putting the facts in the palm of their hand.

Tech also enables providers to bring exciting new products to market faster than ever. Cash may still be king, but overseas, insurance cover should be prioritised.”