With half term and the summer holidays within reach, new research from MoneySuperMarket reveals that over a third of people go on holiday without any travel insurance, risking thousands of pounds of additional bills should they have an accident or have to cancel their trip for any reason.
MoneySuperMarket asked 2,000 Brits about their attitudes to travel insurance and the results show that people wrongly assume they don’t need it, either because of the length of stay or where they’re going.
Brits are less likely to take out travel insurance for staycations or trips to Europe than for long-haul travel. The data also shows that people are less likely to take out cover if they are only going away overnight (52.94%), versus a holiday that lasts a week or more.
Brits without travel insurance dependent on duration
|Trip length (per day)||Percentage without insurance|
Additionally, over a third of people (37%) have not and would not consider taking out travel insurance for a trip within the UK, while 23% haven’t, but would consider it, and 15% didn’t realise you would need cover while staying in the UK.
Crossing the sea seems to be the deciding factor in many people’s minds1. Although only around a third of people (32%) have taken out insurance for a trip in England, Scotland, or Wales, 63% have done so for a trip to Ireland1.
“Be sure to shop around if you travel a lot”
Anna Sant, travel insurance expert at MoneySuperMarket, said: “While we all hope our holidays go without a hitch, travel insurance is a great safety net for those occasions when things do go wrong. You should try to take out insurance as soon as possible after booking your trip, as policies can cover the costs of unexpected cancellations or other difficulties before you leave.
“As well as covering missed or cancelled flights, travel insurance can help with medical issues and thefts while travelling. Be sure to shop around if you travel a lot, as a multi-trip annual package can be cheaper and give you peace of mind without the hassle of renewing your insurance for each individual trip.”
Visit MoneySuperMarket for more information on travel insurance within the UK and abroad.