Britons can ease the burden of costs associated with holidays by opting for single trip travel insurance policies, according to a new report.
Another way for homeowners, particularly those aged over 55 years, to raise funds to pay for a holiday is by using an equity release plan to utilise some of the cash tied up in their property.
According to a recently-released report by financial research firm Defaqto, travellers can save up to 147 per cent on their insurance costs by opting for single trip cover rather than an annual policy.
Brian Brown, author of the travel report and head of research at Defaqto, said: “Many people are having to rein in spending so it makes sense to buy a policy to cover what you actually need.
“If you’re only going to take one holiday in a year then a single trip travel insurance policy could work out up to 147 per cent cheaper than an annual policy.”
Homeowners who are curious about how the value of their property could provide them with a tax-free cash lump sum to help pay for their holiday can find out by contacting Key Retirement Solutions to use its equity release calculator.
Posted by Tom Papworth
