One in four British holidaymakers will head off on their summer break without being covered by travel insurance, according to new research.
Sainsbury's Finance conducted a study which revealed that almost a third of those feel that they don't need cover, while a fifth say they can't afford to get a policy as a result of the credit crunch.
Erfan Hussain, a spokesman for the Association of British Insurers (ABI), explained that failing to secure even
cheap travel insurance could leave Britons heavily out of pocket.
He said: "Travel insurance can cover cancellations, lost cash and valuables and emergency medical treatment.
"While such events are always stressful, travelling with insurance gives some peace of mind to holidaymakers that they will not be left stranded abroad without cash or facing potentially large hospital bills if they fall ill or are injured."
Steve Johnson, head of insurance at Sainsbury's, added that people who are tempted to do without travel insurance should beware that it is a "false economy".
Britons made 867,000 travel insurance claims last year, totalling £352 million.