Annual Travel Insurance


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28 November 2006  Christmas travellers each taking £800 abroad
Britons heading abroad this Christmas, such as those with annual travel insurance, are packing an average of £800 in foreign currency.

Research by Sainsbury's Bank Travel Money reveals that 5.7 million Britons are planning on travelling abroad during the winter holidays, changing a collective sum of £4.57 billion into foreign money for their trip.

With holidaymakers already spending money on essentials, such as flights, accommodation and a single or multi trip insurance policy, Sainsbury's Bank has warned travellers against excessive money-changing costs.

Robert O'May, travel money manager at Sainsbury's Bank, said: "Using the wrong travel money services could result in people paying up to £50 just for changing their money."

Mr O'May added that this expense was "totally unnecessary" and that holidaymakers should take steps to avoid spending on these charges.

Annual travel insurance provider AXA recently reported that Britons would take a total of £29 billion in spending money abroad on their holidays in 2006.

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