Worrying news – over half of British travellers are willing to risk a holiday disaster by travelling without proper insurance. This was revealed in a study conducted by law firm Simpson Millar.
The survey of 1,000 adults showed that 56% of them were willing to go on vacation even without cover. The trend for underinsurance rises sharply among the youth – for respondents aged 18-24, almost three in four (74%) said they would travel even with no insurance. Parents were more likely to take insurance than non-parents, and women more so than men.
Travel insurance provides cover for trip cancellations, delays, emergencies, and medical costs. Having it is very important, as it could spell the difference between a minor inconvenience on a great holiday and a total horror story.
Paul Stevens, group travel litigation claims manager at Simpson Millar said of the results: “Although all travel insurance policies differ by covering certain aspects of your break abroad and how much cover is afforded, most policies will include emergency medical expenses, lost or stolen bags, personal liability cover as well as covering the costs of cancelling, delaying or cutting short your holiday. With the average cost of travel insurance being less than around £50.00 or so, it seems strange that people aren’t willing to pay for the security of knowing that they are financially secure, should the worse happen.
“With the average cost of medical treatment abroad being just over £2,000 and an emergency flight from the US to the UK costing up to £50,000, if people don’t take out insurance, it could make that expensive holiday cost far more than they ever thought possible.”