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People are not taking out travel insurance due to its cost - and the fact that they don't think they need it.
A shocking 13.4 million people are to skip taking out travel insurance for their summer holiday this year.
New figures from Sainsbury's Finance, released today, also show that young people are much more likely to take out the cover than their older - and, supposedly, wiser - peers. While 81 percent of 16 to 24-year-olds are travelling with appropriate insurance for this summer's holiday, this figure declines to just 68 percent of 55 to 64-year-olds.
A separate poll from the travel insurance provider also provides some clues to why so many are passing up on the protection. Around one in five told the firm that they "can't afford" the insurance, while 31 percent claim that they "don't need" it.
Steve Johnson, head of insurance at Sainsbury's Finance, said: "It's extremely concerning to see how many people are neglecting to take out insurance when going away on holiday. It's a false economy to do without it and should be regarded as a holiday essential, just as important as packing your passport. Although in the current climate people are understandably looking at ways to reduce their outgoings, insurance is one thing that should not be omitted.
"If something happens to you or your family whilst you're abroad, you need to know that you have adequate cover in place to take care of things."
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