NewsBritons risk huge losses by travelling without insurance, warns survey

Britons risk huge losses by travelling without insurance, warns survey

Travelling without insurance is possible, but dangerous. How to avoid financial losses?
Travelling without insurance is possible, but dangerous. How to avoid financial losses?
Images source: © Adobe Stock | Pawel Kacperek

26 June 2024 17:53

Travellers are warned not to make a mistake that affects nearly half of Britons on holiday. According to research, island residents are almost 24 times more likely to travel by other means of transport than to drive without valid insurance. This can lead to losing a lot of money, so everyone thinks twice before using a car without valid insurance.

Driving a car without insurance is illegal not only in the United Kingdom. As travelling without it is optional, many people expose themselves to substantial financial losses. According to Aviva, a British insurance and economic group, the average travel insurance claim among Britons is £900. However, costs can significantly increase if someone falls seriously ill abroad, reaching tens or hundreds of thousands of pounds.

As reported by the "Mirror", a Nationwide survey revealed that 44% of Britons travelled without insurance. Marta Edwards, Head of Current Accounts at Nationwide Building Society, highlights that having the right insurance provides peace of mind and assurance of protection in the event of an accident.

Having adequate cover in place provides peace of mind that in the event something does go wrong you are protected. And unlike car insurance, just because travel cover is an optional expense, it shouldn’t make it easier to ignore. The risk isn’t worth itt - Marta Edwards told "Mirror".

Research conducted in the United Kingdom showed that travellers buy insurance mainly to protect themselves in case of illness abroad. Other reasons include fear of cancelling the trip, theft, and problems with flights or luggage.

Nationwide recommends purchasing travel insurance immediately after booking the trip if it needs to be cancelled. Various factors, often beyond the traveller's control, may influence such a decision.

Not every travel insurance policy is the same, so it’s important to ensure what is covered as standard and what can be covered after an update and providing exact details. For instance, it is necessary to inform the insurance provider about the health conditions and illnesses of any person who is to be covered by the policy.

Failing to secure adequate insurance can lead to rejecting a traveller’s claims. Nationwide research indicates that nearly one in six people (17%) admit they have never read the terms of their policy.

See also