Scrapped holidays 55% of travel insurance claims

By Nick Bramhill

More than half of all travel insurance claims relate to cancelled holidays.

Researchers found abandoned overseas’ trips account for 55% of insurance claims from Irish holidaymakers — with illness and family bereavement the main reasons for cancellations.

Medical expenses incurred account for 14% of claims, while 10% are due to a loss of personal possessions, notably tablet computers or smartphones.

Furthermore, missed departures and stolen money total 8% of claims.

The figures were released by Allianz Global Assistance Ireland who studied 2,000 travel insurance claims made to them by Irish holidaymakers from 2013.

Roland Hesse, country manager for the company, said travellers who fail to take out insurance ahead of their summer holidays risk huge financial losses if something goes wrong abroad or if their trip is cancelled.

“The benefit of insurance is that when travelling abroad, people can have peace of mind that any unforeseen expenses, which may occur around their trip, will be covered around their package,” said Mr Hesse.

“It is, of course, very important to purchase the correct cover package for you and your holiday, taking the time to read the small print in advance so you are sure the cover is suitable.

“While an existing domestic health insurance plan may cover certain risks abroad, it may not extend to doctor or A&E visits, prescriptions or emergency evacuations, costs which can leave people significantly out of pocket.”

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Brady Burns Insurance Brokers.