A travel insurance firm has revealed that nearly one in ten Brits taking a summer holiday will travel without cover, in a bid to save money.

The study found 8 per cent of UK holidaymakers are planning a trip abroad without travel insurance. The majority of these will be travelling within the EU, and will rely heavily on the European Health Insurance Card (EHIC) instead of conventional travel cover.

However, the insurance firm stated that travelling without full insurance cover leaves holiday goers "vulnerable" if they "experience issues with lost baggage or cancellations or need repatriating back to the UK".

Andrew Goodsell, the insurance Group chief executive, said: "A good travel insurance policy will ensure you are not only covered for medical expenses, but will also provide repatriation back to the UK and cancellation cover should your holiday be cut short."

Meanwhile, 82% of Brits holidaying in the UK this year will also shun travel insurance. Simon Purnell, from a travel firm said: "People we spoke to simply don’t think travel insurance for the UK is important."