Nearly 25 per cent of British holidaymakers are expected to avoid purchasing travel insurance this year as a bid to cut holiday costs, it has been revealed.

According to recent research from the Post Office, despite the growing figures in those opting for winter sport holidays, more Brits are intending to shun the insurance with nearly a quarter of holidaymakers travelling without cover.

The Post Office warned the importance of travel insurance for those taking up winter sport holidays such as skiing or snowboarding.

It stated that 72 per cent of ski travel insurance claims are related to medical costs.

It warned that an air ambulance rescue would cost £12,000 in Italy and up to £50,000 in the USA.

Meanwhile, it has been revealed that holidaymakers looking to cut costs on holiday insurance should consider the advantages of switching to single-trip travel insurance from their annual travel insurance policies.

According to a recent report by Mintel, as more holidaymakers reduce the amount they travel as a result of the current financial crisis, more people are likely to change their annual cover to a single-trip holiday insurance.