Monday, October 19, 2009
Category:
Secured Loans
According to a survey conducted by Lloyds TSB Added Value Accounts, one in ten of their 1,000 British respondents have been on holiday without travel insurance. This is equivalent to 5.2 million people nationwide.
With regard to the reasons for not taking out travel insurance, 54 percent said that they just ‘didn’t think about it’. Furthermore, one in five of the holidaymakers questioned admitted to forgetting to purchase cover, and 9 percent cited a lack of time as the reason. Additionally, 51 percent of those who have been abroad without travel insurance were reported to have done so because they ‘have hardly ever claimed against a policy’. However, it was found that one in ten British tourists have previously lost their luggage during an overseas trip, 14 percent have had to pay the doctor a visit, and one in five have been taken into hospital.
In addition to overseas travellers, many British holidaymakers were found to be taking time out in the English countryside. Despite this, Lloyds TSB Added Value Accounts has uncovered that 13 percent of people do not have car breakdown cover, 42 percent have concerns regarding traffic congestion, and 21 percent are anxious about the possibility of a breakdown. The research also showed that every 2 minutes a Lloyds TSB Added Value customer is rescued.
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Homeowners who have not been able to take their ideal holiday due to their financial commitments, could consider taking out a
secured loan to re-organise their finances. One of many finance options available, a secured loan for debt consolidation could allow the borrower to tie up any existing debts into one place. By taking this approach, multiple monthly repayments could be reduced to just one and this could even be lower than current outgoings. However, when considering a secured loan for debt consolidation, it should be remembered that consolidating your debt may increase the amount you pay back overall and extend the repayment periods of your debts.
