Millions go abroad without travel insurance
Millions of people are opting to go overseas without having any kind of travel insurance in place, it has emerged.
compare travel cardsAccording to research by Saga Travel Insurance, some 27% of individuals aged 25-34 choose to travel without cover, a risk which is also taken by 10% of travellers over 50.
But travelling overseas without an insurance policy to fall back on in an emergency could prove very pricey.
The most costly claims are medical expenses, which set travellers back an average of £2,195.
However, medical costs can soar far beyond this: if you were unlucky enough to break a leg in the US, a whopping £45,000 could be extracted from your bank account, and hospital treatment after suffering a heart attack cost set uninsured travellers £80,000.
However, the research shows that the most common claims happen before people have even left home, with cancellation accounting for 42% of all travel claims made by the over 50s.
Roger Ramsden, chief executive, Saga Services commented: “Not packing travel insurance can be a costly mistake – paying thousands for a cancelled holiday or medical bills is sure to wipe the smile from the most genial of globetrotters faces.”
In general, travel insurance also covers lost luggage, delayed flights and common medical complaints whilst abroad such as a stomach bug or an ear infection.
“So it's important to make sure everything is covered from the moment you book your holiday,” Mr Ramsden added.
Pre-holiday checklist: essentials
Insurance is not the only thing to sort out before jetting off abroad: it is also important to sort out your foreign currency well in advance of your departure date.
Organising a holiday can be stressful and it is often tempting to leave travel money until the last minute. However, you will get a poor exchange rate and have to pay steep commission charges if you choose to buy currency at the airport.
Getting hold of a prepaid card in advance is an effective way to prevent holiday overspending and help you keep on top of your budget whilst overseas.