A spokesperson for the agency added that there is "a huge amount" to consider when looking into buying travel insurance, as there is no such thing as a "one size fits all" policy.
"Every travel insurance policy is different, offering the consumers different inclusions and levels of cover," she explained.
"It is important for a customer to assess their needs when it comes to travel insurance, for instance assessing the overall value of the items they are travelling with."
Travel insurance is becoming increasingly important for travellers as research found that a growing number of people are taking gap years to visit overseas destinations.
Mintel's study predicted that the global gap year market is set to grow to £11 billion by 2010.
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