Travel insurance: Financial warning for UK travellers

Thursday, 07 September 2006

Many tourists are returning to the UK with large quantities of left-over spending money, according to a new survey.

The study estimated that the average tourist will return home with £27.78 in foreign currency, with many people not bothering to convert the cash back into British pounds – even though one in five will bring back over £50 worth of change.

A spokesperson for the company behind the research said: "It's easy to stash your leftover foreign notes and coins in a drawer when you get home from your travels and forget about it.

"But with one in five of us claiming to bring back £50 or more, it's shocking to discover that so much money is being wasted."

Many people admitted that they failed to convert the cash back to because they simply forgot about it, whilst 25.6 per cent thought it wasn't really worthwhile.

There is also evidence that many more people are using their credit cards rather than cash whilst abroad to help cover the cost of their holiday spending, with holidaymakers this summer adding around £9 billion to their credit cards.

Anyone planning a trip abroad is reminded to make sure they have adequate travel insurance before leaving home, especially as travel insurance can help to protect against unforeseen circumstances including the loss of credit cards, money and belongings.

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