It’s a small investment which could end up saving you thousands, but new research has found that 49% of people leave the important task of buying travel insurance until just 48 hours before they depart!
On top of this, 12% of us don’t purchase any travel insurance at all. This is despite some 18% of travellers having to make a claim on their insurance. So, why are we so reluctant to buy something which could save a hefty bill potentially ruining our getaway?
Could it be the cost?
Many people perceive insurance as an expensive commodity, with car insurance being renowned as a sizeable expenditure for most people. However, the average policy price for travel insurance is just £19.98, a sum which hardly breaks the bank in the grand scheme of things.
Of course, cost shouldn’t be the only thing that comes into making your decision on the type of coverage you opt for. First and foremost, the policy should provide adequate cover that reflects your needs, such as your destination, your belongings, any activities you may have planned, and any pre-existing medical conditions you or your travelling companions may have.
Could it be that we don’t see the value?
A lot of us believe that we’ll probably be fine on holiday, so there’s no need to buy insurance. Whilst this is indeed the best and most likely scenario, life has a funny way of throwing curveballs into the equation.
The most common travel insurance claims are for theft (28%) or injury (29%) that occur during the holiday. And let’s face it, nobody plans to be a victim of theft or hurt themselves! Travel insurance is a safety net should the worst happen!
Could it be that we just forget?
Let’s face it, when you have all the excitement of planning a holiday, the admin can sometimes be pushed to one side in exchange for the more fun and glamorous side of the arrangements. After all, wouldn’t you rather plan your day trip around the coliseum than compare insurance quotes online?
Despite this obvious disadvantage, there are many plus sides for booking your insurance in advance. With a policy in place, you have the peace of mind of knowing you are covered should something unexpected happen that makes it necessary to cancel the holiday.
Cancellation cover protects you from the day you buy your insurance.
Then, if you or a member of your family or group is unable to travel due to illness or injury, or you have to stay at home due to a bereavement or other unforeseen circumstance, having cancellation cover could allow you to recoup the money you have spent on travel and accommodation.
Cancellation cover doesn’t provide a pay-out if you simply decide you don’t want to go on the holiday. But it’s essential protection against the sort of unforeseen circumstances that can affect any one of us.
You can read more about our attitudes towards travel insurance here – https://www.moneysupermarket.com/travel-insurance/travel-time-trends/as well as at ageas insurance reviews
