Following comments made by Easyjet’s Carolyn McCall last week in an interview with the BBC, Michael Ward, managing director of leading independent travel insurance provider, PayingTooMuch.com has confirmed that travel insurance sales are also down from the levels that would previously have been considered normal for this time of year.
“June is usually a stronger month for travel insurance sales than May. However, June 2016 sales were significantly less than predicted, and in fact, just undershot May’s sales. It’s likely that June sales were about 10% lower than they would otherwise have expected to be”, comments Michael Ward.
Ward continues: “July sales have returned to relative strength, with at least as many customers insuring their holiday as in June, but without reaching the month on month increases that would have been seen in previous years.
“My estimate is that between 10-15% of travellers have been put off going abroad at the moment”, says Ward.
The Brexit result coupled with the attempted coup in Turkey, the more expensive euro and dollar, and the terrible attacks in Paris, Brussels, and Nice, have all contributed to the current dampening of travel insurance sales.
Guess the upside is that more will be having staycations in the UK, which may mean Cornwall/Devon.