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Don't delay in purchasing travel insurance

Published: 18 January 2012

It is never too early to arrange travel insurance, Defaqto has suggested, even if a holiday is still a matter of months away.

With many families no doubt booking their breaks for the summer, the group has pointed out that taking out travel insurance at such an early stage will give them peace of mind.

Although the majority of single trip and annual policies will cover cancellation, the actual level of protection will vary quite considerably between products.

Figures show that among single trip policies, seven per cent would make a contribution of less than £1,000 towards the overall cost in the event of cancellation.

For annual policies, this figure stands at six per cent, Defaqto found.

Mike Powell, Defaqto's insight analyst for general insurance, said: "It is important for holidaymakers to arrange suitable travel insurance once their booking is made to safeguard the money they have spent."