Tour operators have reported strong demand for holidays in autumn and summer 2022.
The news comes as one major tour operator revealed that bookings for next summer have increased by a whopping 120% compared to last year. Additionally, that bookings for May 2022 are approximately 150% higher than May 2021.
On top of this, Brits are also booking longer holidays and spending more money on their trips.
While this is great news for the travel industry, it is important that those who are spending more on their holidays double-check the cancellation cover limit available within their travel insurance policy. The reason we say this is because cancellation cover allows you to claim for the cost of your holiday – up to a certain amount – should the trip not be able to ahead and you not be able to recover the costs elsewhere.
Therefore, if you have spent a lot on your trip, your cancellation cover limit must match this amount, otherwise, you risk being left out of pocket should you need to submit a claim.
Cancellation limits are presented as either per person or as an overall holiday limit in the policy wording and it is important to understand exactly how much you can claim, either each or in total, before you buy.
It’s also worth being aware that premiums may be slightly higher if you require more cancellation cover. However, it’s worth spending those extra few pennies for cover that protects your whole trip cost, especially while there’s so much uncertainty at this time.
For more information on the benefits of cancellation cover, click here.