Travel insurers fork out £1million a DAY to cover holiday mishaps

Travel Insurers Fork Out £1million A DAY To Cover <b><i>Discount Holidays ©</i></b> Holiday MishapsGETTY

Travel insurers paid 1million a day to cover the costs of mishaps such as cancelled trips

The Association of British Insurers said that, last year, its members paid out 365million to those who needed help abroad. The average medical expenses claim paid was more than 1,200, and the average cancellation claim was 800.

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The main cost was emergency medical treatment, with insurers paying 196million on related expenses. More than 166,000 claimed for medical treatment.

Insurers also paid 128million to cover cancelled holidays and 16million to cover the cost of lost baggage and money while travelling. Previous research from travel association ABTA has found that more than one in five people still risk travelling uninsured. Mark Shepherd at ABI said: Holidays are meant to be enjoyable and relaxing, but they can be traumatic for some travellers who become ill or are injured abroad.

Medical treatment in foreign countries can cost tens of thousands, which is why it’s essential to have a travel insurance policy that will cover you, should you need it.

Travel Insurers Fork Out £1million A DAY To Cover <b><i>Discount Holidays ©</i></b> Holiday MishapsGETTY

The Association of British Insurers said that the average cancellation claim was 800

Travel Insurers Fork Out £1million A DAY To Cover <b><i>Discount Holidays ©</i></b> Holiday MishapsGETTY

The average medical expenses claim paid was more than 1,200

Travel Insurers Fork Out £1million A DAY To Cover <b><i>Discount Holidays ©</i></b> Holiday MishapsGETTY

Mark Shepherd at ABI said it was ‘important to shop around to find a policy that meets your needs’

“Travel insurers pay 1million a day for cancelled trips or to cover medical costs and offer support during an emergency abroad.

There is a wide range of policies available, so it’s important to shop around to find a policy that meets your needs, and be aware that a cheap policy is not right for everyone.

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