More than half of travellers go without insurance

Trees1More than half of travellers go away without any insurance cover, according to new research, leaving them vulnerable should something go wrong.

Some 53% of those going on holiday do not have cover according to Moneyfacts, meaning they risk medical expenses, lost luggage and emergency travel costs.

One in ten travellers has gone overseas without any cover, while 43% have opted for a staycation without insurance.

While health cover exists in the UK anyway, travel insurance will also protect should a trip get cut short or if technology is lost or damaged.

Moneyfacts also warned that travellers may want to consider annual insurance cover or multi-trip cover, if they intend to go on more than one holiday a year.

When it comes to costs, 31% of those quizzed said they paid between £51 and £100 for their latest travel insurance cover.

A similar proportion were paying more than £100, while 29% revealed they paid between £21 and £50 and one in ten paid up to £20.

The results also highlight the importance of shopping around for travel insurance, as people were found to have paid vastly different sums for similar levels of cover.

Of those quizzed, 56% said they spent less than an hour picking their travel insurance, while Moneyfacts spokesperson Charlotte Nelson warned that the cheapest option may not always be the best.

It may also be worth checking if insurance comes as an added benefit of a bank account or business perk, and if it is included, what exact cover you have.

For instance, some travel policies may only provide European cover, rather than global cover, while others may not provide comprehensive cover.

The key is to assess what comes with each policy and to decide if its features cover everything that is necessary.

If you’re planning to jet off to warmer climes in 2018, then ensure you have your worldwide travel insurance in advance to protect against any eventuality.

Date Created: 30 January 2018

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