The Real Value Of Travel Insurance
Imagine an investment of £50-£150 that could pay out £100,000 or £300,000… Would you hesitate to invest?
What if opting out of that relatively small investment could cost you £1,000 or even £100,000?
That’s what your travel insurance could be worth.
Just two weeks ago, we received a claim for gastroenteritis from a customer travelling in the United States. The cost of medical expenses was a whopping $21,578 (+-£17,025) and that excluded repatriation to the UK once the patient is able to travel, which will probably cost around $90,000 (+-£71,010).
This is why travel insurance is so critical. Their policy probably cost circa £150, but without it they would have had to pay almost £100,000 out of their own pocket.
Every Detail Matters
Another example (from another insurer) reported by the Express earlier in May 2019 highlighted the importance of including every detail of your pre-existing medical conditions and medication when you apply for a travel insurance policy.
A 50-year-old woman travelled to Mexico and contracted pneumonia and bronchiolitis, which meant she had to be placed in an induced coma. She received a £300,000 bill on her return.
The Express explains that, “(she) was dealt the shocking bill when her travel insurer said she did not disclose an inhaler prescription beforehand,” and this is indeed in line with most travel insurance terms and conditions.
Leaving out any details of pre-existing medical conditions, medication that has been prescribed, or symptoms that are being investigated can make a travel insurance policy invalid.
We don’t know all the details for this case, but it’s possible that this lady’s need for an inhaler may have made her illnesses worse or affected the medical treatment she received. Had her inhaler prescription been disclosed on her travel insurance policy, this may have changed the initial treatment she received, or even enabled doctors to provide different care if she wasn’t able to speak to them. Even if you only use a medication infrequently or a condition is well controlled, never leave it off your medical disclosure.
The full details of your travel route, destination, stops along the way and planned activities are also essential when you apply for your policy. Medical treatment carries very different costs in different parts of the world and leaving out parts of a trip can make an entire policy invalid.
Even if you’re not going far, rather provide all the details and give yourself peace of mind.
Would you risk ££££££ to save ££?
According to the Association of British Travel Agents (ABTA) 38% of Britons who have booked to travel overseas in 2019 have not yet purchased travel insurance. That’s millions of people!
The Express quotes UK Foreign and Commonwealth Office (FCO) director of consular services, Julia Longbottom, reminding travellers that the FCO cannot help fund medical bills if someone is taken ill or hospitalised while abroad.
ABTA has also cautioned travellers not to take the risk of travelling without the appropriate travel insurance: “Take out travel insurance and make sure it covers you for your circumstances and holiday plans.”
Have you booked a holiday but not purchased travel insurance yet? Remember that your policy will cover you all the way through from purchase for items such as cancellation if those are included (check your unique Policy Wording).
Get in touch and we’ll help you choose the most comprehensive and cost-effective cover for your trip – and save 20% every time you purchase through our website!
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