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How holidaymakers can reduce costs when travelling abroad

How holidaymakers can reduce costs when travelling abroad

Despite the economic down turn and Prime Minister David Cameron’s best efforts to encourage Britons to holiday in the UK; millions of families are expected to head overseas during their summer break.

UK travellers are taking advantage of the strong foreign exchange rate and heading to Europe in search of cheap sun, sea and sand.
The UK’s leading price comparison website for holiday car hire insurance, explains how Britons can keep even more pounds in their pockets when heading abroad this summer.

Mark Bower, Managing Director of says:
“The wet weather combined with the best exchange rate for pounds to euros seen in years, has sent Brits flying. Whilst millions are expected to head on holiday abroad this year on cheap holidays, they can ensure they are protected by adequate insurance.

“Moneymaxim offer holidaymakers the chance to save more cash by comparing a range of essential insurance products. For example, if you’re taking your favourite gadget on holiday and it gets damaged or stolen, you could end up forking out a large sum for a replacement, whereas if you had gadget insurance you could be protected. For all your insurance needs, Moneymaxim can help.”

Here are just a few ways you could save money this summer:


Travel insurance
Figures show that over half (53%) of the country is planning a summer get-away, but some 13 million people don’t have travel insurance. Worryingly, a further 8.8 million claim they don’t intend to buy any travel insurance at all.

Without travel insurance, holidaymakers could risk spending more money than necessary should something go wrong. Travel insurance is typically designed to protect you, your circumstances and your goods whilst overseas. 

No one likes being ill on holiday and should you have an accident or become sick, you might have to pay for any medical bills or prescriptions when abroad. Travel insurance gives you financial protection and in most cases offers medical expenses, depending on the policy you take out.

Gadget Insurance
A growing number of Britons are taking their favourite gadgets on holiday with them. For example, some 47% of 18-34 year olds confess to taking their laptop on holiday with them

As more and more people put their expensive gadgets at risk of being damaged, lost or stolen, it could be worth taking out specific gadget insurance. This form of protection could save holidaymakers money should their laptop, tablet, smartphone or other device become damaged in the long run. Comparing gadget insurance can help you find a cheap and comprehensive policy today.

Car hire insurance
Anyone going overseas and hiring a car should consider taking out car hire insurance before travelling. Car hire firms typically hold the person who has hired the car accountable for any damage to the car or in the event of theft up to the amount of excess that has to be paid.

While car rental firms will offer car hire insurance as an optional extra buying it at your car hire pickup point is not only very expensive but also tends to exclude key items on your car such as the tyres, wheels and windscreen. Buying a standalone policy beforehand will enable you to cover these areas and pay a fraction of the cost involved overseas.

Travel Money
Bettering foreign currency rates offered by your bank has never been easier. It’s easy now to use an online comparison tools to compare travel money rates, and arrange to order your currency for collection or delivery. Be aware that a few banks (notably Lloyds, Smile and the Co-op) still charge for buying currency, as do all almost all credit cards.