Many fail to take out travel insurance cover

It has been reported that many people who are setting off on their travels do not bother to take out any form of travel insurance cover, putting themselves at risk of crippling financial costs in the event of accidents, illness, theft, loss or theft of belongings. Figures were released by the travel association ABTA, showing just how many people do not bother about taking out travel insurance.

The company claims that nearly 20 percent of travellers do not take out travel insurance cover, with nearly one in five British travellers said to have not bothered with this important cover. The company also said that many travellers have real misconceptions when it comes to travel insurance cover.

The travel firm carried out a survey and found that around 16 percent of those polled thought that in the event of a medical emergency the government would pick up the tab if there was no travel insurance cover in place. The results showed that 26 percent of younger travellers thought that any medical and related expenses would be funded by the Foreign Office if there was no medical cover in place.

The number of people failing to take out any insurance cover whilst holidaying in the UK was particularly high, coming in at 55 percent. The survey also found that 17 percent of consumers did not consider travel insurance to be important. However, officials have said that this sort of cover is vital for travellers, as it covers things such as medical expenses, treatment, replacement of lost cash, cancellations, delays, damage to belongings, theft, and a myriad of other things.

One industry official said: “It’s amazing how many people go off on their travels without taking any insurance out. However, it’s only when something bad happens that they realise just how expensive a mistake this can be, and how avoiding paying a few pounds for cover can end up potentially costing them hundreds or even thousands of pounds.”

Tags: office, travel insurance, abta, sort, foreign, uk, finance

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Tags: holiday insurance, holiday cost, atol, abta, holidays