It s tempting to travel without insurance. Many people are lucky enough to have never had to make a claim, and if you are looking to have a low cost holiday, insurance is one of the first things that people consider skipping out on, even though cheap travel insurance usually only costs a few pounds per trip.
But then again, most people who are tempted to skip out on insurance don t know the true cost of something going wrong. What will only set you back a small sum if you buy it before your holiday could end up costing you a tidy fortune if you run into trouble.
Still not convinced? If you skip out on the cheap travel insurance, these are the kind of costs that you are likely to face...
Medical Costs
Average cost of a claim: £1,200
There s nothing like an illness or an accident to spoil a holiday...and if you are uninsured, you ll pay the price in more than just lost time and discomfort. The average cost of a medical insurance claim (according to research done by Norwich Union) was an eye watering £1,200.
Of course, medical costs vary from place to place and according to the severity of your injury. Getting some basic dentistry done in India isn t likely to cost too much (though still more than some cheap travel insurance!) Being treated for a broken leg and taking a helicopter ambulance back from the Canadian Rockies will incur a somewhat more substantial bill!
And beware – in the USA, medical bills can be truly staggering, running into tens of thousands of pounds for the treatment of a broken leg, and skyrocketing up for anything more serious.
Luggage Costs
Average cost of a claim: £220
Luggage gets mislaid at airports much more often then you d like to think. Add in the possibility of theft (a regrettably common problem in many holiday destinations) and losing your luggage is a real danger on holiday – it is one of the most common travel insurance claims, with the average claim being £220.
£220 is just the average – if you are apt to travel with digital cameras, iPods, laptops and the like, they are all expensive things to lose...and are tempting items for an opportunistic thief!
Cancellation Costs
Average cost of a claim: £856
If you ve booked a holiday that you ve been looking forward to for a long time, cancelling it will be the last thing on your mind. But whether you or someone in your family becomes too ill to travel, you are unfortunate enough to suffer a bereavement in the family, or some natural disaster hits your destination of choice, cancellations do happen...and when they do, they are expensive. Research by More Than suggests that the typical cost of a cancelled holiday is over £850.
Wherever you are travelling, it simply isn t worth the risk of travelling uninsured. Good deals on insurance are easy to find by shopping online, and you could also consider getting annual or family insurance to cut costs even more. So when you book your holiday, make sure you book some cheap travel insurance as well!
Author Resource:
Patrick Chong is the Managing Director of Journey’s Travel. Their commercial travel insurance website, Insuremore (http://insuremore.co.uk/ ) offers cheap travel insurance for families, couples and singles with a quick and easy online claims feature.
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