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Travellers should not save money by not buying insurance

AA Travel Insurance logo

Economic factors could lead to more than one in five people forgoing an overseas holiday this year while of those who plan to go, half say they will economise, according to new research from AA Travel Insurance.

 

A fifth have already decided not to holiday abroad, 40% of them saying that they cannot afford to go this year or that the economy has discouraged them from booking an overseas trip. Another third have yet to decide.

 

And of those who are planning a holiday, 47% say that the economic situation has affected their travel plans, by far most of them saying they are carefully thinking about their budget by cutting back on how much they spend.  

 

The AA's findings suggest that a fifth don't buy travel insurance on grounds of cost while a further third feel that it is not really necessary.  One in ten believe their EHIC is a travel insurance substitute.  One in ten believe that because they are healthy, insurance just is not necessary.

 

Mark Huggins of AA Financial Services says, “I am concerned that a quarter of those cutting corners say they will not take out travel insurance which is an entirely false economy. An accident or illness that lands you in a European hospital could easily cost you £2000 over and above what European reciprocal arrangements may include using your EHIC card; and over £10,000 if you are holidaying in the USA.Figures like that clearly show that a few pence per day spent on decent travel insurance is money very well spent. You might be exceptionally healthy - but that won't stop you from needing treatment if for example, you have a bad bout of food poisoning; get sunburned; stung by a jellyfish; have a fall or be involved in a car collision. That is when you really would regret not being covered."

 

EHIC: European Health Insurance Card entitles the holder to basic health care provided by the European country you are visiting, for which a charge may be made. It does not cover private health care services or the cost of being brought back to the UK.  It is not a substitute for travel insurance.
Travel insurance news: 18 January 2011