It is likely that Brits will be looking for cheap travel insurance this summer as many are spending less on their annual holiday than they did last year.
This is according to figures from Tesco Travel Money, which reveal that 34 per cent of holidaymakers will be tightening their purse strings and reigning in their spending.
A further 12 per cent admit they will be spending significantly less than they normally would on holiday with camping and caravanning becoming increasingly popular among thrifty Brits.
A spokesperson for Tesco Travel Money said praised those trying to cut back and advised Tesco customers that "consumers can pick up great value currency with their weekly shop in one of more than 120 stores across the country".
Another way in which people could save money when they go away is to stay in a hostel instead of a hotel, which Hostelling International claims many more people are now doing.
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