Why is travel insurance important?
Travel insurance is essential for managing unexpected expenses during your holiday.
Certain events can disrupt your plans and lead to significant financial losses, particularly with medical treatments abroad.
The Association of British Insurers (ABI) has reported a 75% increase in cancellation claims and a 235% rise in medical claims in 2022, with the average medical claim amounting to £1,750.
However, medical expenses can soar, as indicated by UK government statistics, which show that medical procedures and repatriation from Greece can reach £30,000.
Given the rising number of claims and the potential for high medical costs abroad, travel insurance is a wise decision.
What does travel insurance cover?
What’s typically covered?
- Lost baggage & belongings: Up to £4,000 in case your baggage or personal belongings are lost, damaged, or stolen while you’re travelling, allowing you to claim for their full or partial value.
- Cancellation cover: Up to £7,000 in compensation if you need to cancel your holiday for reasons specified in your policy, such as illness or bereavement.
- Emergency medical expenses: Protection for medical bills or emergency medical treatments, with up to £15million of cover
- Travel disruption: You can claim for delays if bad weather, strikes, or something breaking down affects your flight, ferry or other mode of transportation.
- Repatriation: if yourself or a family member becomes injured or falls seriously ill while you are away, emergency repatriation can cover the costs to bring you home.
- Personal liability: Protects you if you are involved in an at-fault incident that results in legal costs or damages while you are on holiday
Do I need travel insurance?
Travel insurance is vital for any trip, from a short getaway to Spain to a long backpacking adventure worldwide. It shields you from unexpected events while traveling.
Is there a good time to buy?
Buy travel insurance immediately after booking your trip to ensure coverage from the moment of booking. This includes protection for cancellations due to various reasons such as supplier failure, bereavement, redundancy, illness, or injury.
Cover with pre-existing medical conditions
Travel insurance lets you explore the world with confidence, even with a pre-existing medical condition such as diabetes or cancer – as long as you tell your insurer about it.
Learn about the essential aspects of declaring pre-existing medical conditions for travel insurance with Emma Lunn’s comprehensive guide.
We show prices from a panel of specialist insurers that offer medical travel insurance covering a wide range of medical conditions to ensure you’ll be covered.
If you’re struggling to find suitable cover for your conditions, MoneyHelper provides a list of specialist insurers to help you find cover, or you can call the British Insurance Brokers Association on 0370 950 1790 for more guidance.