The survey, which asked over 2,023 randomly selected UK adults about their plans to buy travel insurance ahead of their summer holidays between 20 and 22 May 2022, found that just 23 per cent of respondents planned to purchase travel cover for upcoming travel. This contrasts with the 40 per cent said they wouldn’t be buying any but were planning to travel.
22 per cent said that they wouldn’t be needing coverage as they had no plans to travel, while 14 per cent said that they didn’t know if they would be buying a policy.
The survey also highlighted an age disparity between younger and older travellers, with only 18 per cent of travellers in the 55-64 age bracket planning to buy coverage for travel they have planned for the summer. This compares with just under a third (31 per cent) of those aged between 25 and 34.
“This is a really worrying number of people who could potentially go on holiday this summer without the right cover in place,” said Ceri McMillan, Travel Insurance Spokesperson for GoCompare. “If people are thinking they’re saving money by going away without the right level of insurance, this is most definitely a false economy. If the worst should happen and you need medical care whilst away, travel insurance will cover your costs. Without it, your bill could run into thousands of pounds.”
She added that options such as the Global Healthcare Card (GHIC) are limited in terms of the coverage, and don’t provide coverage for private healthcare or medical repatriation. This is if UK travellers have obtained a GHIC before travel – a recent survey by Direct Line Travel Insurance suggests that as many as two thirds of UK citizens either do not have, or are uncertain whether they have, a GHIC.
Beyond this, McMillan warns a lack of coverage for eventualities such as cancellations, disruptions, luggage losses or an early end to your holiday can also cause significant negative financial repercussions.