Every year Britons going for holidays to the different parts of the world. However they should also be aware that there might extra costs involved in particularly for insurance.
Unforeseen circumstances such as loss or damage of property, theft or health issues can set you back hundreds if not thousands of pounds when travelling.
Every hard-earned and expertly saved penny counts more than ever while on holiday, and uncovered expenses can drain the travel fund instantly.
But there is another form of financial protection many of us are largely unaware of, according to a new study.
Reportedly, one in three British holidaymakers are in the dark about the security of their savings when ipt comes to booking a getaway.
The research, commissioned by independent travel company Travel Counsellors, was conducted following the recent collapse of LowCostHolidays.
Steve Byrne, Managing Director of Travel Counsellors commented: "Clearly this raises issues of trust and protection for holidaymakers when booking their trip.
"It is crucial for travel companies to be transparent, in order to ensure that every traveller has peace of mind and knows exactly how their holiday is protected, whilst feeling assured that someone is there for them should anything happen."
The study, which polled 2,000 UK residents on their knowledge of financial protection in travel, found 57 per cent of Brits know it is important when booking a holiday.
But less than a fifth (16 per cent) are actually clear on how they are covered.
Half of respondents believe the Association of British Travel Agents (ABTA) logo means their holiday is completely covered, and 39 per cent admitted they weren't sure.
Almost half (41 per cent) of Brits are also unclear on what the Air Travel Organiser's Licence (ATOL) scheme is or how it protects them.
Steve continued: "It is clear that many Brits are unaware of how - or even if - they are covered. While ATOL and ABTA offer financial protection, this doesn't always extend to every element of your trip.
"People are often misled into thinking that if they see something such as the ABTA logo they are automatically protected, which isn't the case."
Notably, the importance of professional care was also highlighted in the results.
Almost half (40 per cent) of holiday-goers said it is extremely important for them to have a travel professional on hand to help should a problem occur during their getaway.
Steve finished: "Ultimately travellers need to know what is right for them; where is safe to travel; and be reassured that someone who genuinely cares will be there for them every step of the way."
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