Call for an instant quote 0345 90 80 161
Open Mon to Fri 09:00 - 17:30 | Sat 09:00 - 16:00 (GMT)
Or call 0345 90 80 161
06 June 2017 09:05
Travel insurance is important for overseas travellers
Travel insurance claims worth around £1 million were paid out every day in 2016 on average, new industry data reveals.
According to the Association of British Insurers (ABI), some £370 million was paid out to 480,000 travellers and their families last year. And that breaks down to roughly £1 million every day.
Lost baggage and emergency medical treatment were among the costs covered by travel insurance.
The annual sum of £370 million is the highest witnessed since 2010, when many travellers were caught up in the Icelandic ash cloud incident.
Along with medical and baggage-related costs, some £130 million was paid out for cancelled holidays in 2016.
Shopping around
With the traditional summer holiday season fast approaching, the ABI has urged people to shop around for a travel insurance policy that is suited to their needs.
While typical medical claims amount to £1,300 and cancellation claims come to £816, it said travel cover usually only costs Britons around £37. And single trip policies can be particularly inexpensive.
Warning over unexpected costs
Mark Shepherd from the ABI said medical costs and repatriation fees can ultimately amount to tens of thousands of pounds.
He said: "Travel insurance is not a nice thing to have but should be an essential purchase. Insurers support and help thousands of travellers and their families should the worst happen, paying nearly nine in 10 claims that are made."
The association is now recommending that people shop around for the right travel insurance - with the cheapest policy not necessarily the best for their needs.
It adds that a valid European Health Insurance Card (EHIC) can also come in handy for those holidaying on the continent, while checking the official Foreign and Commonwealth Office travel advice and information pages is also a good idea.
The ABI believes people should inform their insurer of any medical conditions they have up-front, so that their policy remains valid.
17 May 2019
What makes the Monaco Grand Prix so special? From a royal guestlist to a challenging circuit, we take a look at why the Monte Carlo Formula 1 race is so prestigious...
[more...]
15 May 2019
Get inspired for a summer of music, travel and adventure with our guide to some of the best music festivals around Europe.
07 May 2019
Thinking of visiting Spain? There are some excellent reasons to explore the country this spring and summer, from football finals to eating snails - so don't miss out!
Want to learn a new language without the hassle of going to classes? Check out our guide to the best free apps on the market and get yourself holiday-ready in no time.
03 May 2019
Why are there two bank holidays in May? Why do we celebrate May Day? These questions and more are answered in our look at the origins of the May bank holidays...
30 April 2019
Experience the magic of Matera! The 2019 European Capital of Culture, Southern Italy's famous ancient city of caves is the perfect place for a weekend away.
Get inspired for a last-minute getaway this bank holiday weekend! We explore five alternative European city break destinations perfect for a weekend away.
18 April 2019
How much do you know about Spain? Read up on some fascinating facts about Spain and learn more about magical mice, liquid gold and big pay-outs.
16 April 2019
Keen to see first-hand who gets crowned champions of Europe? Europe's biggest football match takes place in Madrid: here's your guide to everything you need to know.
Going away with your children? Beat the stress of travelling with your family with these great travel tips. Here's what you need to know if you're travelling with kids this Easter.
Heading to Madrid? Here's our guide to six must-see places you should visit in the Spanish capital, from food markets to fine art and plenty in between.
10 April 2019
Experience the magic of Madrid's Fiesta de San Isidro 2019! Discover where to stay, what to eat and what to see as you explore one of Spain's greatest festivals.