The ABI news article linked below highlights why travel insurance is so essential. Their analysis shows that Brits make a staggering 70 million overseas trips a year, with insurers paying out £1 million a day to travellers in 2016 - the highest since 2010.
Payments for emergeny medical treatment account for over half (54%) of all claims costs. The cost of travel insurance "can be less than a couple of glasses of wine at the airport bar" - yet one in four people still travel without insurance.
Mark Shepherd, Assistant Director, Head of Property at the ABI, said:
“As millions of people gear up for the summer holidays, for some unlucky travellers their break could turn into a nightmare. Falling ill abroad must be the number one worry as medical treatment abroad and repatriation back home can cost tens of thousands. Travel insurance is not a nice to have but should be an essential purchase. Insurers support and help thousands of travellers and their families should the worst happen, paying nearly 9 in 10 claims that are made. With a wide range of competitively priced polices available, shop around for the policy that meets your needs, and remember that the cheapest policy may not be the best for you.”
This is an insightful article, drawing on recent statistics, and also provides some useful tips to make sure you are covered against the unexepcted when travelling abroad.
Please click here to read the full article.