Annual travel cover to take a back seat according to Defaqto

Brian Brown, head of insight and author of the report said that due to the credit crunch, people in the UK may to choose to limit themselves to one trip abroad this year, and spend more time visiting friends and family in the UK.

He said: "This year customers are more likely to take holidays at home rather than abroad. The number of overseas trips is showing a decline for the first time in two decades with fewer trips to many of the usual destinations."

Mr Brown said that with fewer holidays being