Insurance claims ‘can cost those trying to save’

People trying to save money by avoiding taking out insurance as one of the ways to prevent themselves from falling into debt could find they pay massive sums should the worst happen, a British charity has warned

Statistics published by Age Concern reveal that those over the age of 55 who go on holiday without taking out adequate insurance risk paying out thousands in travel insurance claims.

Some of the highest amounts issued due to accidents abroad are more than £117,000 for heart failure and £107,000 for a fractured spine.

Age Concern’s Joe Young remarked that the recession was causing people to view insurance as an unnecessary expense.

“Our data clearly justifies the need for insurance and highlights just how expensive it can be when something goes wrong on holiday,” he said.

Last month, Kate Kenward, executive director of the Association of Independent Tour Operators, remarked that people were still keen to go away in spite of the downturn.

By Sarah Adie