ABI data shows value of insurance
New data from the Association of British Insurers (ABI) shows that in every week of 2013, over 4,300 holidaymakers depended on the safety net travel insurance provides in paying for emergency medical treatment, with an average cost of £930 per claim. Yet nearly a quarter of all travellers risk travelling abroad uninsured, according to a survey carried out by ABTA earlier this year.
Aidan Kerr, head of travel insurance at the ABI, said: “No one expects to go on holiday and have to make a claim on their travel insurance. However, unfortunately for many travellers, having something go wrong can be a very real experience. It can be especially traumatic when you or someone you are travelling with is taken ill or injured. Travel insurers pay out an average of £4 million every week to help to ease the stress and cushion the blow when there is a medical emergency abroad.”
The main findings from the ABI show that the average cost of a claim for medical expenses on a travel insurance policy in 2013 was £930 (this is compared to £616 in 2004); that the average cost of a travel insurance policy is just £32; and that more people claim for medical treatment than for either cancellation of their holiday or lost or stolen money or baggage.