Traveling without the appropriate insurance can be financially disastrous if you are involved in an accident or if you fall ill while abroad. Despite these risks, recent research shows that one in five adults still choose to travel without any insurance.
Fewer than 60 countries have reciprocal healthcare arrangements with the UK. Australia is one country that does; but while your treatment may be free, the use of other services, such as ambulances probably won't be included.
The USA is a country that we don't have a healthcare arrangement with. Falling ill in America, without insurance could easily lead to bankruptcy. For example, the cost of an air ambulance in the East Coast of the USA could set you back £35,000!
It's not just medical expenses that are covered. Holiday insurance can also cover you for the loss of luggage and personal belongings such as money and passports.
Travel Insurance Costs
Research carried out by Alliance & Leicester has shown that holidaymakers in the UK are paying collectively £1.3bn too much for insurance each year. This is due to 60% of us choosing to use travel agents to arrange the insurance for us when we book our holiday. Insurance purchased in this way can work out to be up to five times more expensive than buying it separately. It really does pay to shop around.
It's wise to check the level of cover that your policy provides before purchasing. Check the small print to ensure that you are covered for all activities that you will likely be taking part in while you are away.
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