Firms highlighting travel insurance needs
A number of firms have stressed the need for adequate travel insurance recently.
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Wednesday 18th July 2007
Travel insurance could be a key feature on the checklist of many Britons heading for the sun in the summer months.
However, Post Office recently found that a significant number of holidaymakers are leaving themselves at risk by obtaining no travel insurance when going abroad.
Nearly half (47 per cent) of travellers questioned by the financial services provider stated that they had been on holiday with no cover.
A similar number (46 per cent) claimed that they felt they did not need the product and saw it as a waste of money.
"Something as commonplace as a lost bag or visit to a doctor abroad could see a person shelling out hundreds of pounds if they dont have insurance - why take the risk?" asked head of travel Kevin McAdam.
His comments echoed warnings from Direct Line that medical conditions are frequently incurred by travellers whose insurance coverage is inadequate.
The firm cites research which shows that 55 per cent of Britons who obtained insurance from a travel agent were not asked if they had a pre-existing medical condition which could cause them to require medical assistance while overseas.
According to Direct Line, this could render the policy worthless as conditions which predate the arrangement of insurance should be declared.
Carmel McCarthy, press relations manager at the firm, suggested that Britons travelling abroad - especially to America, where medical expenses are typically higher - "should be open and honest" with their insurers.
She also advised those who take more than one journey each year that "it is advisable to get an annual policy as you can save more money by doing so".
The Financial Services Authority recently announced that it is to regulate travel insurance sales made by travel agents in order to reduce the likelihood that holidaymakers will be left without cover due to poor advice at the time of purchase.
However, Post Office recently found that a significant number of holidaymakers are leaving themselves at risk by obtaining no travel insurance when going abroad.
Nearly half (47 per cent) of travellers questioned by the financial services provider stated that they had been on holiday with no cover.
A similar number (46 per cent) claimed that they felt they did not need the product and saw it as a waste of money.
"Something as commonplace as a lost bag or visit to a doctor abroad could see a person shelling out hundreds of pounds if they dont have insurance - why take the risk?" asked head of travel Kevin McAdam.
His comments echoed warnings from Direct Line that medical conditions are frequently incurred by travellers whose insurance coverage is inadequate.
The firm cites research which shows that 55 per cent of Britons who obtained insurance from a travel agent were not asked if they had a pre-existing medical condition which could cause them to require medical assistance while overseas.
According to Direct Line, this could render the policy worthless as conditions which predate the arrangement of insurance should be declared.
Carmel McCarthy, press relations manager at the firm, suggested that Britons travelling abroad - especially to America, where medical expenses are typically higher - "should be open and honest" with their insurers.
She also advised those who take more than one journey each year that "it is advisable to get an annual policy as you can save more money by doing so".
The Financial Services Authority recently announced that it is to regulate travel insurance sales made by travel agents in order to reduce the likelihood that holidaymakers will be left without cover due to poor advice at the time of purchase.
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