Top consumer brands such as Barclays, the Post Office and American Express, are leading holiday makers on a merry trip by charging up to 50 per cent more than the going rate for travel insurance policies, Essential Travel reveals today.
The travel insurance and holiday extras specialist claims top brands are using their names to deliberately over-charge customers.
“These companies are simply abusing consumer confidence,” says Stuart Bensusan, Director, Essential Travel. “Unsuspecting customers are buying policies from a source they consider to be a trusted, household name. In reality, their confidence is being misused and they end up paying far too much.”
The cost of a single trip within Europe will set you back £40 with the Post Office – more than double what the policy’s worth. Barclays and American Express charge £31.59 and £24.37 respectively, for the same policy.
“We charge £19 for single trip cover within Europe and other travel insurance specialists charge about the same,” says Bensusan.
“Brands that derive 99 per cent of their income from activity not related to travel insurance should not be selling themselves as travel insurance specialists. To price their policies at double what a specialist would offer, knowing they will sell because of the name behind it, is just a slap in the face”.
Essential Travel is the UK’s largest independently owned online travel extras company offering competitively priced, fully comprehensive travel insurance, airport car parking, airport lounge access, hotel accommodation and car hire. For more information on their services visit www.essentialtravel.co.uk.