On the Beach's marketing director Alistair Daly said: "Every year, Britons lose millions of pounds in unforeseen medical and hospital costs whilst abroad.
"This is due to not having comprehensive travel insurance cover," he added.
Mr Daly "highly recommends" that customers make sure they are fully covered by insurance before their holiday.
Instead, travellers looking to save money should be "flexible" and consider emerging destinations such as Croatia and Bulgaria for a break, said Mr Daly.
Figures from the Office of National Statistics show that Britons are becoming increasingly adventurous with their choice of holiday destination.
While visitor numbers to many countries fell, there were some exceptions with a large increase in numbers travelling to destinations such as Romania, Mexico and Slovakia.
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