The credit crunch has meant that many have traded in their flight tickets for a full tank of gas with the intention of happily wiling the hours away on a beach with a bucket and spade. Opting for the beautiful British coast as opposed to the beaches of Barbados may seem the frugal thing to do, especially if your pennies need to stretch further than their usual boundaries. It does not mean however that you cut corners on all things holiday related; many have made the mistake of renegading on travel insurance, not the wisest of moves.

This is especially true when you consider the events that may still arise that could cost you your holiday, namely illness. If a family member suddenly becomes ill and needs hospitalisation taking a trip at that point will be the last thing on the family’s mind. In such an instance taking out travel insurance would have proved priceless, as a simple call and claim form completion would mean you would not have to forfeit the £1,000 that some holiday cottages can cost per week.