Thousands Of Winter Sports Holidaymakers Are Throwing Money Down The Slopes Each Year On Travel Insurance
Around 250,000 winter sports holidaymakers1 are throwing away hundreds of pounds each year by not buying an annual policy according to a new survey2 commissioned by Direct Line Travel Insurance.
Whilst just over half of people surveyed (52%) recognised the benefits of buying an annual policy almost half (45%) only bought a single trip policy despite the majority of these taking two or more holidays a year.
The findings also showed that over two thirds of people surveyed (68%) take two to three overseas holiday a year and almost a fifth (19%) take four to five overseas holidays each year, including weekend breaks.
A typical example is a family of four booking a week skiing in the US and a two week summer holiday in Spain would save around 16374 by arranging a Direct Line annual world-wide insurance policy with winter sports cover, rather than arranging two separate policies. If the same family travelled instead to France for their week's skiing, then Direct Line's annual European insurance policy would save them around 163303. A family annual policy will save even more money as it also covers the children travelling separately from their parents on school trips etc.
Interestingly over a third of those who had taken a winter sports holiday in the last twelve months (38%) believed that it is more important to have insurance for winter sports holiday, than a summer holiday. However 6 out of 10 (61%) believe insurance for both types of holidays is equally as important.
Tony Chilcott, Travel Business Manager at Direct Line said:
"Insurance is essential for any type of holiday as the same risks such as medical emergencies, cancellations and lost baggage still occur wherever you are."
"If you are intending to take several holidays over the course of the year, buying an annual policy saves you time, money and hassle. As well as your main holidays, it can cover you for holidays in the UK, a booze cruise to Calais and some also allow you to opt out of winter sports cover which means you don't have to pay for cover you don't need."
Technical details
1 According to Mintel 2000, around 700,000 people go skiing or snowboarding each year. The MORI survey revealed that around 45% bought a single trip policy (315,000). Of those surveyed 9% (63,000) went on one holiday a year, 90% (630,000) went on two or more. 45% of 630,000 equals 283,500 people who bought a single trip policy for one or more holidays. 9% (25,515) went on one holiday per year, therefore those travelling with a single trip policy on two or more holidays a year is 257,985.
2 The MORI survey was conducted during August 2001 and interviewed 1002 people who had participated in winter sports holiday in the last 12 months.
3 Premiums based on a family of four ages 35, eight and six. Total cost of two single trip policies to USA and Spain 163224.38. Comparable cost of an annual World-wide insurance policy with winter sports cover 163150.24. Total cost of two single trip policies to France and Spain 163146.89. Comparable cost of an annual European insurance policy with winter sports cover 163116.98.
