Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Holidaymakers preparing to take a flight for a trip over the school holidays may find peace of mind by taking out a travel insurance policy that provides them with a comprehensive level of cover. As flight cancellations, delays and baggage loss dominate the headlines it’s a good time to scrutinise the terms and excess when comparing plans and pick one with a suitable package of cover, not just the cheapest plan.

“Consumers may be surprised to know that not every standard annual policy will cover travel delay (6% don’t) but for those that do (94%), the average wait time for holidaymakers is 11.5 hours and could be as much as 24 hours before someone can claim. Waiting a whole day to claim will be less than ideal, particularly for an individual or family with no place to stay for free nearby while they await their next flight. Footing the bill for an overnight stay and food expenses may be beyond the average cover of £269, so it’s important consumers carefully consider their level of cover instead of the cheapest premium.

“Baggage loss can be a huge nightmare for holidaymakers, and while most standard annual policies have this feature (97%), the value of cover varies considerably. Some possessions could be irreplaceable, and a summer wardrobe could be expensive to replace, but for others their baggage for a short trip may not have enormous value. Having an appropriate level of cover for any loss is wise and because each person’s luggage varies, it’s not too surprising that the average cover for baggage loss has a massive range from £200 up to £10,000 and most plans require an excess to be paid.

“Consumers would be wise to take a credit card with them for any trip, along with any travel insurance policy, just in case they have to cover unexpected expenses. As a financial safety net, a credit card is wise, as it also offers consumers protection under Section 75 of the Consumer Credit Act. As with any trip, holidaymakers would be wise to check their cover and rights before they travel, particularly if they have booked their flights direct.”

Data collected by Moneyfacts for annual travel insurance plans during May 2022.