Before you head on holiday, you often think of ways you can cut back to give you more spending money for your trip, but it appears that people are cutting back on the important things, such as travel insurance.
As many as two in five people, 9.9 million Brits - who travelled abroad in the past 12 months have holidayed without the right travel insurance, took part in activities which may not have been covered, or didn’t have any insurance at all, according to ABTA – The Travel Association.
Payingtoomuch.com Regional Travel Manager Chris Pannell said: “It really is amazing how many people have put their health at risk by not having any cover let alone the correct cover. Policies don’t have to cost a lot, even with pre-existing medical conditions you can find suitable and affordable cover.It is possible that a small percentage believe the EHIC card to be enough to cover them, but this only gives them the ability to receive healthcare which is normally covered by a statutory health care system in the visited country.”
ABTA said: “While the average cost of a travel insurance claim is £1,2962, the cost of medical treatment or repatriation can run into thousands of pounds, leaving people extremely vulnerable abroad. Without sufficient cover, many families are having to raise money for treatment or repatriation, with some resorting to crowdfunding.”
Breaking down the figures
22% reported travelling on some holidays completely uninsured in the past 12 months
27% hadn't informed their insurance companies about pre-existing medical conditions or taking part in activities without checking they were covered under the policy
29% said cost was a barrier to not buying travel insurance
15% said that they received insurance through their bank account. ABTA is encouraging people who have travel insurance with their bank to check that it covers their requirements as there may be restrictions around age, health, destination and activities
Travel insurance horror stories
- According to Wonderlust Travel Magazine, a British tourist had to pay £20,000 to cover the cost of treatment for a heart infection and bleeding on the brain. Costs included treatment at two hospitals and an air ambulance back to the UK from Spain.
- A British traveller was involved in a motorcycle accident in Indonesia and didn’t have a valid travel insurance policy. The medical bills and repatriation costs amounted to £120,000.
It really isn’t worth risking everything for the sake of an affordable policy. Travel insurance is there to protect you should anything happen whilst you are abroad. Accidents happen just as easily whilst you are on holiday but with great financial consequences. Make sure you have the right cover for your trip because the Foreign Office won’t be able to bail you out.
If you are looking for a policy, call our team of travel insurance operators who will help find you a suitable policy. Call today on 01243 784000 or visit payingtoomuch.com/travel-insurance