Travel insurance is one of those things that many people like to swerve. A culture of expecting the State to bail you out has been strengthened by the Covid19 furlough payments system, plus loans and grants – many of which were obtained fraudulently. What can be done to persuade people that travel insurance is essential? Very simple, change the law and force holidaymakers to enter proof of cover, or incept new policy details at the point of booking. No cover, booking cancelled.
Here’s some data from Staysure on consumer attitudes;
Over one in ten (12%) Brits have travelled abroad without insurance in the last three years, even though 56% of those asked agreed that having a policy in place provides them with an invaluable sense of peace of mind, research released today has revealed. Ahead of next week’s half term school holidays, a Censuswide survey commissioned by Staysure Group revealed 47% of customer claims included a medical situation abroad with the average incurred claim cost approaching a substantial £3,000.
Whilst the reasons for a claim do vary, most medical claims typically involve emergencies where holidaymakers have suddenly become unwell or had an accident abroad requiring medical care. This type of claim can see costs escalate into tens of thousands of pounds, especially in cases that require emergency treatment and periods of hospitalisation.
Other aspects of increased claim costs are when holidaymakers are too unwell to adhere to their scheduled return and require repatriation back to the UK on a different flight, or if deemed medically necessary, by road ambulance along with a medical escort. In some critical situations, such as on a cruise ship, obtaining urgent medical care may require a helicopter airlift to transport a patient to the nearest land hospital, which can push costs up significantly.
SIX PERCENT OF BRITS THINK GHIC CARDS MEAN FREE MEDICAL TREATMENT
The survey showed that a quarter (25%) of Brits would still consider travelling without cover in place, rising to nearly a third (32%) amongst men and just over two-fifths (41%) of 16–34-year-olds. Unsurprisingly, over-55s were the least likely to travel without insurance, but more than one in ten (13%) said they would consider it.
Amongst the reasons for not buying travel insurance, most cited were concerns that it might be too expensive (9%), with (10%) believing that a policy wasn’t necessary for a beach holiday and almost (18%) thinking it unnecessary for an ocean cruise.
Around 5% believed they couldn’t obtain coverage for their pre-existing medical conditions, while 6% assumed they didn’t need travel insurance due to having a free GHIC – which seems to be a common misconception.
While a GHIC (Global Health Insurance Card) does offer reduced cost healthcare for medical emergencies in some European public hospitals, it falls short in covering all medical situations, especially those occurring on cruise ships. Nor does it act as travel insurance with additional cover for cancellation, repatriation, and a range of other essential benefits.
Nearly half (49%) of those surveyed thought insurance was unnecessary for a weekend trip abroad, and an equivalent number (47%) felt the same when taking a foreign city break. Just over a fifth (21%) worryingly stated they would consider not purchasing a travel insurance policy for a backpacking holiday, even though this type of travel often involves visiting many far-flung destinations, such as Australia, Southern Asia, and Indonesia, where repatriation costs would be exceptionally high.
Finn Walsh, Staysure Group CEO added:
“A tailored travel insurance policy should always be one of your holiday essentials, no matter where you’re going or for how long. People think it would never happen to them, but sadly we see too often just how quickly a holiday can take a turn for the worst with customers needing emergency care abroad. Few of us have a spare few thousand pounds available to pay for emergency treatment, so we would urge people to buy their cover as soon as they book a trip and factor in the cost to their holiday budget.
Medical costs can vary from country to country, the treatment required and often include the safe return of those involved, but with the right cover in place you should be protected from the stress and financial worry of unexpected medical bills.
We offer a range of cover options to suite all budgets. Staysure’s Comprehensive and Signature policies have an unlimited amount of cover for medical emergencies and repatriation, alongside cover for most pre-existing medical conditions, giving our customers the travel confidence, they need.”
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