A new survey shows how British holidaymakers are not managing to take out the correct amount of travel insurance. Comparison website MoneySupermarket found that four million people each year do not take out any travel insurance before jetting abroad and around one third of all holidaymakers failed to take out enough.

Only one in five people surveyed had the correct insurance. Failing to take out any insurance at all is a risk not only for people who lose their luggage but also for those who find they are unable to pay for a medical emergency.

The survey found that the value of the contents of a person’s luggage is increasing. The average value of a suitcase and hand luggage is £1,440 per person because of the rise in the popularity of taking gadgets such as iPads and laptop computers on holiday.

The most expensive suitcases being taken onto planes belonged to travellers coming from the South West of the country with the average contents valued at £1,735 per person. Londoners had the second most valuable suitcase contents at an average of £1,621 per person.

MoneySupermarket travel expert Bob Atkinson said it was essential for travellers to make sure that they have appropriate insurance organised before leaving home. He added that it was important to check insurance limits on single items in the policy to ensure that expensive items such as cameras, computers and mobile phones are covered for their full value.