UK insurer
Aviva revealed that it paid out over £19.2m in travel insurance claims in 2015 for holidaymakers that cancelled their trips.
Even though there were a lot of holiday cancellations only a quarter of would-be travellers purchased insurance at the same time they booked their trip. Almost a third (32%) bought it a month before the trip, while 10% don’t buy insurance at all, exposing them to the risk of large medical expenses or losing the holiday altogether.
Aviva received around 3,000 travel insurance claims from holidaymakers that had to cancel their plans due to family bereavement, illness, or other unforeseen circumstances. The average cancellation claim was worth £640, and more than 60 claims were for over £10,000. The most expensive claim last year was for £26,000.
The data also showed that only 40% of Britons purchase cover whenever they travel, while 20% said that then only take out insurance when traveling abroad.
Adam Beckett, director of products at Aviva’s UK general insurance business, said: “As the peak holiday season approaches, it’s important holidaymakers make sure they have enough cover in place if the worst happens and they’re not able to travel.
“Many travellers assume travel insurance just protects them while they’re on holiday and they might not take out cover until just before they jet off for sunnier climes. While we hope the worst never happens, it’s a sad reality that sometimes our plans have to be changed or cancelled due to illness or other unforeseen events. Taking out travel insurance at the same time as booking the holiday will avoid any unnecessary and added stress if holidaymakers aren’t able to travel.”
