Abacus Daily Debt News

Holidaymakers risking money troubles by packing electronic kit?

British holidaymakers may be placing themselves at risk of significant monetary loss by not adequately insuring the items they take away with them, new figures have suggested.

Axa estimated more than £7 billion worth of electronic gadgets will be packed into suitcases this summer as tourists wish to remain close to their home comforts.

The organisation found the average adult vacationer will include £424 worth of kit in his or her packing.

This includes products such as MP3 players, cameras and camcorders - meaning the average holiday party has £738 of electronic devices contained in their luggage.

Of the £7 billion worth of belongings taken away, around £1.61 billion will be completely uninsured, with only 77 of travellers holding travel insurance.

A recent survey carried out by Bright Grey found millions of Britons will rack up debt this summer in order to take a vacation abroad, with 32 per cent of respondents claiming they are willing to put their financial security on the line to get away.

By Joe Shervin