Travel insurance is a must, with holiday luggage costing five times more to replace than most people realise, Legal & General has found
Most undervaluing holiday luggage
Tuesday, 15 Mar 2005 16:15
Most UK adults underestimate the value of their holiday luggage, meaning their travel insurance may need updating, Legal & General has found.
The majority of holidaymakers think the contents of their bags are worth under £500, with one in four not even hazarding a guess to the value of their luggage. However, Legal & General calculated that the average worth of the luggage carried by a family of four is £2,500.
Things get worse for skiers, with their specialist equipment and warm clothes meaning each person takes around £2,500 worth of possessions on holiday with them.
"It is clear that as holidaymakers we seriously undervalue the contents of our luggage," noted Legal & General's Andy Sampson.
He added: "Many of us forget the actual value of the suitcase itself. Then, as items are often packed into the case individually, the accumulated value of all the contents is not fully appreciated.
"It's important that holidaymakers check the value of their luggage and contents to make sure they have sufficient cover in place before they travel. This could be insurance cover under the personal baggage of a travel policy or personal possessions cover under their home insurance policy."
Legal & General also highlighted the fact that last year alone a single airline reported that over 5,000 bags were lost permanently.