24 September 2013
Many people who travel outside of the country don’t think having travel insurance is important. Who thinks about falling ill while on a holiday?
In a survey done in 2012, about 16% of the participants believed that travel insurance is unnecessary because the government will shoulder any medical expenses they incur abroad, which is completely not true.
Becoming ill, or being injured while travelling abroad can be costly, especially if you need to be flown back home on an emergency flight. That alone can cost anywhere between £30,000 - £75,000! If you are not prepared, you could very well spend all your hard earned money on emergency medical care while travelling.
But aside from protecting you from unforeseen medical expenses, travel insurance also has many other benefits. For one, it covers you in case there are delays or cancellations in your flight, and it also includes coverage in case your luggage gets lost while in transit. Accidents, legal assistance, and loss of travel documents are covered as well.
Here are 5 travel insurance facts that will hopefully convince you to never go abroad without a policy:
Fact #1: Your health insurance is not the same as travel medical insurance. Many travellers mistakenly think that their health insurance will cover their medical treatments abroad, and that’s why they don’t bother getting travel insurance. But very few, if any, would do so.
Fact #2: There were 3,793 British people hospitalised abroad in 2013, or roughly 70 per week, and the average medical claim is £1,400, but the cost of treating serious injury or sudden illness can quickly exceed £100,000. If you simply consider these rather alarming figures, you would have to be crazy not to buy travel insurance. If you get sick abroad, you could very well spend all your vacation money for your treatment. Or worse, you could be spending your entire life savings!
Fact #3: You have a 1 in 77 risk of losing your luggage when flying with a European airline. This statistics was provided by the Association of European Airlines, which reported that from November 2008 to March 2009, 1,583,068 bags were lost and about 85% of baggage were returned to their owners in a day or two.
Fact #4: There were about 19,839 British nationals who required consular help abroad, especially in Thailand due to lost passport, law violations, and hospitalisations. This was according to a report published by the Foreign and Commonwealth Office (FCO) in 2010.
Fact #5: You can get travel insurance through websites, cruise lines, and travel agencies. It’s recommended that you get your insurance as soon as your flights have been booked, that way you’re covered in case your flight gets delayed or is cancelled. It also prevents you from forgetting to buy insurance.
Without a doubt, people who travel abroad must have insurance. The above-mentioned travel insurance facts should serve as an eye-opener for you.
Worried about the cost? Don’t, because the advantages of having insurance far outweigh the cost. Usually, travel insurance costs 2%-8% the total cost of your trip, which makes it very affordable. In addition to your standard cover, you have the option to include various policy extensions to tailor the policy up to your needs and preferences. Find our more about travel insurance policy extensions and have a splendid and safe trip!