A growing number of Britons are deciding against taking out travel insurance prior to jetting off on their summer holiday, new research has shown.

A study conducted by AA has revealed that this week - beginning August 15th - is the most common seven-day period for individuals in the UK to take a single trip travel excursion abroad, with coastal regions in Spain representing the most commonly-visited destinations.

However, the company's survey revealed that nearly one-quarter - 24 per cent - of all holidaymakers have decided to go away without the protection of an annual insurance policy, with 33 per cent indicating they do not feel such an investment to be worthwhile.

Michaal Cutbill, director of AA Travel Insurance, warned this is not the case and added that going overseas without cover is a "very risky strategy".

"No-one should ever contemplate travelling without insurance," he concluded.

At the same time, travel insurance is also an essential investment for any individual planning on studying abroad in the near future.

That is the view of Lizzie Fane, who has insisted taking out annual insurance ahead of a year-long single trip travel excursion is absolutely crucial.

Ms Fane explained that a policy can help individuals "avoid any shock expenses" that can come with healthcare or hospital treatment overseas.

"The year abroad is exciting and entirely unpredictable, but one thing that can be prepared for is dealing with the financial implications of a medical emergency," the expert stated.

She went on to say that insurance will also provide a safety net to anyone who is victim to theft while away, meaning policies provide a lot of peace of mind.

This comes after Third Year Abroad joined forces with insurance company QBE and broker RMCI to create a new product designed specifically for students living away from Britain as part of their degree course.

Another example of insurance for students to take out may come a bit closer to home.

Student account holders must not make the mistake of assuming their possessions are covered by their parents' home insurance policies.

That is the warning issued by Mike Powell, insight analyst for general insurance at Defaqto, who has urged scholars heading off to university before the 2011-12 academic year to look into whether or not they are automatically protected.

Research conducted by the organisation established that while 85 per cent of contents and buildings insurance packages do include cover for student belongings, the other 15 per cent do not.

Therefore, assuming they are protected could prove costly to scholars should their possessions be lost, stolen or damaged.

"As always, the devil is in the detail - so students and parents need to check what - if any - cover their family home insurance will provide," Mr Powell noted.

These comments echo the sentiments of Annie Shaw from Cash Questions, who recently urged all attendees of universities to seriously consider signing up for insurance sooner rather than later.

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