Surprisingly, travel insurance sales have continued to rise despite the credit crunch destroying other agencies. In a twist of irony, travel insurance purchases have increased although the overall travel market has dropped.

This is because travellers are understanding the need for such a travel policy in case they need to pay medical bills or become stranded due to cancellations.  

Chris Noble, manager of an insurance provider commented on the increase in insurance sales: “As the credit crunch begins to hit people’s wallets, travellers are recognising they need to have adequate travel insurance to protect themselves while away.”

Noble continued: “ When dollars are scarce, travel insurance is even more vital, because it protects against those unexpected expenses that occur when something goes wrong while on the road.”

Over the past few months, insurance companies have seen a 28.1% increase in sales.