– Hiscox survey finds one in five don’t know if they are covered when they go on holiday –
As Britons gear up for their summer holidays, new research reveals that many are chancing more than just the weather with their holiday planning. According to specialist insurer Hiscox, 19% of those surveyed* said they either don’t bother taking out a specialist travel insurance policy, think that they are covered under another insurance policy such as health, or simply do not know. When it comes to understanding what exactly they are covered for following the loss of valuables or luggage, there is an even greater level of complacency with one in ten (10%) respondents being unsure or not having checked if they are covered by an insurance policy.
Commenting on the findings, Colin Wallace, insurance expert from Hiscox said: “Recent changes in the rules governing the sales of holidays have further strengthened consumer protection. However understanding what you are covered for can become confusing and there is a worrying degree of complacency when it comes to Britons making sure that they have the right travel insurance, or indeed any cover at all.
“Taking the time to think through your travel plans and what type of cover you need can help take the stress out of travel. Comprehensive travel insurance, such as the Hiscox policy, should cover you for eventualities that you may not always be aware of, such as the financial failure of a flight or other travel service disruption.”
I’m covered…aren’t I?
-The research found that 18% assume that their travel agent or airline would compensate them for flight cancellation. However this can be dependent on the exact circumstances of the disruption
-21% thought that a travel industry body would cover them for flight cancellation, but again this is dependent on many factors such as how you booked the flight and if the airline is based in the EU
-26% assume they are covered by a travel policy from their bank account although these policies may not include financial protection if the accommodation provider goes bust
-13% haven’t checked or are unsure of what cover they have if their flights are cancelled
-One in ten are unsure as to whether they would be covered for a medical emergency when on holiday
-Thrill seekers looking for some extreme sports action on their holiday are taking more risk than they should with 36% only sometimes checking, or simply never checking, whether their travel insurance will cover them for the activity they are undertaking such as bungee jumping or white water rafting; activities which are not always covered as standard
-Check that your travel policy covers all of your planned activities. Riskier winter sports such as ski /snowboard racing, jumping, acrobatics, aerials and other activities are sometimes excluded and separate specialist cover may need to be added to the policy