Here’s why you should buy your travel insurance now
Planning a summer holiday overseas but not yet bought insurance? Here’s why you shouldn’t delay, says Quotezone.co.uk travel insurance expert Helen Rolph.
Industry experts have compared 5,000 travel insurance premiums across five popular tourist destinations close to near geopolitical hotspots, revealing which countries have seen the biggest price increases over the past year.
THE FINDINGS
Prices in Turkey have been affected the most despite it traditionally being considered one of the most popular and cost-effective destinations for UK holidaymakers over recent years. Jumping to 46% over the last 12 months, average premiums have risen from £40.56 to £59.19.
Holidaymakers travelling to Bulgaria are also seeing a sharp rise, with prices up 19%, possibly down to its proximity to Ukraine. Meanwhile, premiums for Cyprus have increased by 6%, Egypt by 4% and Poland by 8%.
How was the data compiled? Insurers regularly reassess risk when global tensions rise, particularly in destinations close to areas where travel complications might become more likely. Destinations situated close to areas experiencing heightened tensions – such as Iran and Ukraine – could see premiums shift as insurers reassess the likelihood of travel disruption, delays or emergency evacuation should issues escalate.
“Travel insurance prices change constantly as insurers respond to global events, the number of claims made and healthcare costs,” explains Helen. “Even if a destination remains popular despite its proximity to ongoing conflict, premiums can rise when the wider region becomes more uncertain. Travellers and holidaymakers shouldn’t assume last year’s prices will still apply and make sure they’re comparing policies carefully, rather than opting for the cheapest option, as cover can vary significantly. It’s also sensible to arrange insurance as soon as a trip is booked, check government travel advice before departure, and ensure any medical conditions are fully declared.”
WILL I BE FULLY COVERED?
“Travel disruption insurance can also be useful as it covers a wider range of issues while travelling,” Helen continues. “But it’s important to remember that travel insurance won’t provide cover if the foreign office advises against travel to that region – and most travel insurance policies won’t cover war-related incidents. It’s crucial for holidaymakers to check what is and isn’t covered on their policy and add any extras or specialised cover they might need.”
