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New figures show the true value of travel insurance

New figures show the true value of travel insurance

New figures show the true value of travel insurance Travel insurance is rarely an easy sell – so many potential customers naturally assume that they can get away without it. After all, if you’re not going on an adventure holiday then what could be the danger of lying on the beach?

Of course brokers and insurers know that the dangers are very real – and the costs associated with these dangers are sky high. However, new figures released by the Association of British Insurers show that the price of treatments abroad may stagger even the most experienced insurance professional.

According to its figures, some treatments can cost more than the price of an average UK house – a whopping £211,000.

The ABI has found that 3,000 travellers a week are making claims for emergency medical care while they are abroad and while most claims come in at just over £700 these costs soar when repatriation is required. It states that one person was even hit with a bill higher than £500,000 after a multiple fracture of the leg and artery in the USA required an air ambulance back to the UK.

The average cost of a travel insurance policy is just £33, yet one in five Brits travel without it.
Speaking about the findings, Mike Shepherd, the ABI’s manager of general insurance, commented: “People don’t want to think about the bad things that can happen.

“It is really important to because it is basically not worth the risk to fall ill abroad and be saddled with what we are seeing as astronomical medical treatment bills, particularly in countries outside Europe.
“Anyone travelling overseas should always take out appropriate travel insurance for the duration of their trip and declare medical conditions when they take out their policy.”

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