British holidaymakers lost over £90 million last year after failing to purchase adequate travel insurance, research has shown.

According to research from an insurance provider, British holidaymakers have missed the opportunity to claim for 236,000 incidents as a result of not having travel cover, resulting in nearly £90 million in value.

The firm stated that this figure is an increased of 38 per cent compared to statistics from 2007.

A majority of the expenses went to medical costs which accounted for over 92,000 of the 236,000.

Lost or stolen luggage, flight cancellation, lost or stolen cash and travel delay were also popular amongst those who failed to purchase the insurance.

Perry Wilson, founder firm, said: “Thankfully, most people get adequate travel insurance before they go on holiday, but there are still a significant proportion of us going abroad without being insured.

Issues like medical problems and lost baggage affect so many holidaymakers nowadays – and with average claims values rocketing they can be very costly.

In times like these, when money is so tight, it is even more important that people ensure they have adequate travel insurance so they don’t end up badly out of pocket.”