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Travel insurance customers told less people are going on gap years

By Jonathan Dawes, Tue 10 May 2011 - Published in Insurance

Travel insurance customers have been told that many people are abandoning the traditional gap year, according to research from LV=.

Its report found that the number of UK travellers taking a longer trip has declined by 69 per cent in the last five years.

Furthermore, rather than taking a gap year its survey found that more people are taking a 'snap year', where they go abroad for five weeks, rather than the traditional 12 months.

Its research found that during 2011 over two million Brits are planning this type of break.

John O'Roarke, managing director of LV= travel insurance, said: "The findings show that with financial concerns at the forefront of Brits' minds, long periods of overseas travel to far-flung destinations are no longer a feasible option for many people."

Recently, American Express told travel insurance customers that once people have booked a break 83 per cent of them said they were willing to pay as much as 20 per cent extra for an upgrade.