New statistics More Than travel insurance, reveal that Brits wasted an estimated £6.1 billion last summer, because they had to cancel holiday plans and didn?t have travel insurance. Despite many people already starting to book mid-year breaks, More Than is warning that people are delaying arranging their travel insurance, meaning that people risk having to pay for their pre-booked travel and accommodation, even if their plans fall through.

Travel insurance can prove extremely valuable for people who find they need to cancel their plans unexpectedly due to circumstances like illness or bereavement. Last year, 26% of More Than's travel insurance claims were for cancellation of holidays, at an average cost of £8562.

Keira Clark, head of travel insurance at More Than, said: ?It?s encouraging that holidaymakers are catching on to the importance of travel insurance, but many still don?t realise that by purchasing their policies late, they miss out on valuable cancellation cover. We encourage travellers to arrange their insurance at the same time as they book their break, to ensure they?ll be covered if anything goes wrong before the trip. ?

More Than travel insurance provides up to £5,000 to cover costs associated with cancellation of travel, and starts from as little as £8.93 for a single trip and £30.45 for annual cover.

For more information on More Than travel insurance visit the More Than website.