Insurance clients need to be enlightened properly on what their standard travel policies can provide in the event of a terror attack, according to new research by International Travel and Healthcare (ITC).
The study, which was conducted with YouGov, found that 42% of people are concerned about terror attacks affecting their travel plans, but a sizeable portion of travellers also have misconceptions regarding their insurance coverage.
“While it is unsurprising that people are concerned about terrorism in this changing world, it is worrying that so many people misunderstand what travel insurance covers, leaving them with no financial protection should an act of terrorism occur close to their proposed destination if they no longer want to travel,” the Yorkshire Post
quoted ITH managing director Kate Huet as saying.
According to the study, 32% of respondents believe that their travel insurance policies will cover the cost of trips cut short by terror acts, while 25% think that the cost of cancelled trips will also be covered.
Thirty-seven per cent also believe that travel insurance will provide cover for delays as a result of terror attacks.
A fifth, or 19%, of the respondents also admitted that they didn’t know who would cover repatriation costs if they get injured or killed in an act of terrorism. Twenty-one per cent believed that the UK government would shoulder the expenses.
The report noted that few if any of these benefits are actually covered under standard travel insurance policies, according to the Yorkshire Post.
Policyholders themselves may be at fault for their confusion since only 24% of the respondents who have taken out travel insurance said that they always read their policy wording fully while 58% read only “some parts.”
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