Holidaymakers shun travel insurance and breakdown cover
Many holidaymakers will embark on their annual break without any travel insurance and people taking to the roads in Europe are failing to take out breakdown cover.
A study by the Money Advice Service reveals that 53 per cent of people in the UK are planning to take a summer holiday, but half of these holidaymakers haven’t yet bought their travel insurance and 34 per cent don’t intend to do so.
Although travel insurance can seem like an added expense, uninsured travellers may face huge bills if they become ill while on holiday.
The average cost of medical treatment while abroad is £2,040.
People planning to stay in the UK for their holiday are even less likely to take out travel insurance.
Around 70% of UK holidaymakers have no insurance, and 60% don’t plan to purchase any.
To help people with pre-existing medical conditions find suitable travel insurance, Confused.com has launched a new price comparison service.
Most travel insurance policies exclude pre-existing conditions, which means the insurer will not pay for emergency treatment or hospital costs relating to the condition.
Confused.com’s new service will find an insurance quote to cover pre-existing medical conditions, as well as non-pre-existing conditions, ensuring that holidaymaker are properly protected.
The company is highlighting the importance of declaring any pre-existing medical conditions because failure to do so can result in the policy becoming void, leaving the policyholder to pay for their treatment out of their own pocket.
Meanwhile, research from Britannia Rescue reveals that 4.27 million people will drive in Europe this summer but 39 per cent will fail to purchase breakdown cover.
Twenty-three per cent of those surveyed had failed to consider how they would deal with a breakdown while on holiday and seven per cent assumed they would be covered by their UK breakdown insurance.
If a vehicle breaks down and cannot be fixed, the cost of transporting it back to the UK is likely to be around £1,000.