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Sainsbury's Travel Insurance research

43% increase in lost or stolen money claims

British holidaymakers file £24 million in lost or stolen money and possessions insurance claims and one in four claims for lost or stolen money or possessions originate in Spain. Sainsbury’s travel Insurance offers 1/3 off online discount – exclusive to Nectar card holders. Analysis of claims data by Sainsbury’s Travel Insurance reveals that it has seen a 43% increase in lost or stolen money…

British holidaymakers file £24 million in lost or stolen money and possessions insurance claims and one in four claims for lost or stolen money or possessions originate in Spain. Sainsbury’s travel Insurance offers 1/3 off online discount – exclusive to Nectar card holders.

Analysis of claims data by Sainsbury’s Travel Insurance reveals that it has seen a 43% increase in lost or stolen money claims between 2009 and 2010.

The research reveals that Spain is the country where most claims for lost or damaged property, baggage or money originate, with over one in four claims of this nature (27.6%) being caused there, at a total value of around £7 million a year. This is followed by France (7.8%), the USA (5.7%), Italy (4.1%), and Turkey (3.7%).

The findings reveal that Britons make travel insurance claims worth around £24 million a year for lost, stolen or damaged possessions, baggage and money. However, Sainsbury’s Finance estimates that for every £4 million of travel insurance claims received, there are around another £1 million that go unclaimed because many holidaymakers aren’t covered by travel insurance. The figures provide a stark warning to those planning a get-away to ensure they have adequate cover before they set off.

David Barrett, Sainsbury’s Travel Insurance Manager, commented: “Lost or stolen travel money, baggage and possessions is a common problem for Britons on holiday. Over the past three years the average claim value for lost or stolen money was nearly £170. When you consider any expensive items you may have in your baggage such as watches or cameras, incidents of lost or stolen baggage can be very expensive if you don’t have travel insurance.

“Good travel cover does not need to be expensive; holidaymakers should shop around to get a competitive price and adequate levels of cover before they even pack their suitcase or organise their travel money. If they don’t, they could end up badly out of pocket.”

Co-Founder & Chief Editor - TravelDailyNews Media Network | + Articles

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.

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