The holiday industry is surprising experts in today’s economic climate as the Brits continue to book their holidays, however, it seems that travel insurance is one way they are cutting costs.

Recent research by Sainsburys shows that Brits are forgoing travel insurance in a move that could put them at serious risk.

According to the figures, around one in four Brits say that they are not taking out a travel insurance policy for this year’s holiday.  This is mainly because of the credit crunch and the need to tighten their purse strings.  2.5 million travellers say that they could not afford travel insurance because of the increased cost of living.

Certainly the cost of energy, food and petrol has increased this year and yet it has not stopped people from taking their holidays as they say it is too important for them to get away from the daily grind.

It is concerning how many people are not taking out travel insurance when they go on holiday.  It should really be regarded as an essential because in the case of an accident or problems whilst abroad, people could seriously regret not having it.