Half of all UK holidaymakers are at risk of losing money because they don’t buy travel insurance when they book their trips, a new study has revealed.
According to the research from Aviva, 49% of travellers do not buy insurance when they book their holidays. A quarter (24%) buy it just before they are due to depart, while 23% don’t bother buying travel insurance at all. A further 2% wait until they are at the airport to secure suitable insurance.
However, without cover in place, the holiday isn’t protected. So, for example, if the traveller was to fall ill prior to their departure or had to cancel for some other reason, they wouldn’t be able to claim for any money already spent.
As well as covering cancellations due to unforeseen circumstances before a holiday, travel insurance also ensures people are protected while they are away for medical emergencies and lost or damaged luggage.
Unfortunately, the decision by many travellers to not secure suitable travel insurance at all is one that could leave them extremely vulnerable while on holiday. Just last month, we highlighted how over half a million Brits needed help on holiday last year.
It’s a reality that firmly underlines the need for suitable insurance – insurance that’s preferably secured at the time of booking to cover cancellations too.
The Potential Impact of a No-Deal Brexit
Meanwhile, the possibility of a no-deal Brexit scenario is another consideration holidaymakers need to take into account when booking trips to Europe for 2019 and beyond.
If Britain cannot agree a deal with the EU, travel and trade chaos could ensue. In addition to backlogs at ports, we could even see flights to and over Europe disrupted.
Okay, so it may not happen, but there is also a possibility that it could. The bottom line is we don’t actually know for certain either way right now, which is another reason why travellers should be securing suitable travel insurance ahead of time.
The important thing to remember is that a no-deal Brexit isn’t a certainty. So most comprehensive travel insurance policies should cover disruptions caused should it happen.
Indeed, a spokesperson for GoCompare told the Independent: “Providing that the issues were unforeseen, you should be covered by a good comprehensive travel insurance policy. That said, if you were to take out cover after a specific incident, say a strike for instance, became public knowledge you wouldn’t be able to claim against this. It’s the same principle as taking out insurance after you’re already ill.”
Malcolm Tarling, spokesman for the Association of British Insurers (ABI), echoed this, but said holidaymakers should check the clauses of their individual policies for clarification.
“We don’t know, no one knows, what will happen, but take out travel insurance because you’ll need it regardless,” he added.
Another consideration is whether the European Health Insurance Card (EHIC) will still be valid during and after the transition period. It entitles British travellers medical treatment as if they were a resident of the country they are visiting.
If the EHIC is not guaranteed post-Brexit, some individuals with existing health conditions could find themselves paying higher premiums.
Whether you are going abroad or simply planning a staycation, securing travel insurance should be at the top of your list of priorities well ahead of time.
I joined Premier Choice Group as a Healthcare & Protection Consultant in 2017, where I now look after the needs of over 200 clients nationwide. Prior to joining the Premier Choice Group, I worked for a large Private Healthcare Insurer, VitalityHealth, and managed SME and Individual clients across the country.