Travel insurance from £3 single-trip
and £16 annual

There are some considerable differences between travel insurance policies that need to be considered by consumers.

This is the advice from Defaqto, which found that although many products will offer cancellation cover, there are discrepancies in what level this will be at.

Statistics from the group show that 41 per cent of single trip policies will provide £5,000 or more of cover in the event of cancellation, rising to 53 per cent for annual cover.

Defaqto's insight analyst for general insurance Mike Powell noted that although many people's choices will be driven by price, this should not be the only consideration.

"People need to focus first and foremost on pinpointing the features they need from a travel insurance policy and identifying the options that provide that cover," he commented.

Mr Powell added that buying travel insurance now for a holiday booked in the summer is a good idea, as it can start providing protection.