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51% of UK holidaymakers 'don't have travel insurance'

By Daniel Culpan

2 August2021

More than half of the nation (53%) are planning a summer holiday, new research from the Money Advice Service has revealed, yet a worrying 13 million of us haven't got travel insurance - and more than 8 million don't intend to get any.

According to the findings, 51% of people planning a getaway in the coming months haven't bought travel insurance. What's more, 34% of them admitted they don't intend to buy any for their summer holiday and only 17% of people going abroad or staying in the UK for their summer holiday said they actually plan to take out an insurance policy.

Holidaymakers who don't have adequate protection, however, could end up having to pay thousands of pounds out of their own pocket should anything happen. A third of travel insurance claims are for medical insurance, and with the average cost for medical treatment abroad totalling 2,040, being uninsured could leave people facing massive costs.

Despite this, the survey of more than 2,000 UK adults found that 33% of holidaymakers heading to foreign shores this summer (around 4.2 million people) haven't yet bought any travel insurance - and almost a million of them admitted they don't plan on getting any before they go.

An insurance expert at Think Money commented: "In the current climate, taking out travel insurance may seem like yet another expense to fit into our monthly budgets. However, holidaymakers who aren't financially protected could end up facing huge costs - particularly overseas - that they'd have to cover themselves, which means that finding suitable travel insurance could certainly be a price worth paying."

Tags: insurance, travel insurance, Money Advice Service, insurance policy

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