According to a recent report released by Lloyds TSB, many of us have taken to travelling abroad without proper insurance. While it’s natural that recession-hit individuals are cutting corners to save money, this is one move that has the potential to backfire badly.
An example. A few years ago I visited Greece and for two weeks had the time of my life. Being a bit younger and more cocksure of my life retaining capabilities, I whizzed round said Greek island on a clapped out motorbike without a care in the world. And without travel insurance to boot.
All went well till the final evening when, at a fine Greek taverna, I was served up roast chicken, chips, salad and salmonella. You can imagine the rest. Cue quarantine on my flight home, ambulance at Gatwick and a month off work. The cost? Fortunately, it was the evening before I returned to the UK but had it been just a day or two earlier I could have been stung for many £1,000’s.
A salutary lesson and one I took as a warning.
Put simply, travel Insurance is a must, especially since people often need expensive medical treatment and sometimes even have to be admitted to hospitals while abroad. Not to mention lost luggage, cameras, stolen wallets etc.
The actual costs of not having travel insurance can sometimes top £100,000 in unnecessary fees. Here are some examples of costs that travelers face abroad when disaster strikes:
· Heart Failure (USA) - over £115,000
· Fractured Spine (USA) - over £105,000
· Broken Hip and Wrist (Israel) - nearly £80,000
· Fractured Hip (Spain) - over £15,000
· Kidney Failure (Turkey) – almost £35,000
· Catching Pneumonia (Portugal) – more than £22,500
These costs include not only medical expenses, but also various other charges like repatriation costs, cancellation/ curtailment fees and miscellaneous costs. Is it worth it saving a little on travel insurance only to incur huge medical bills that could take ten years to pay off?
Our advice: surf the web and get quotes from some of the UK’s well-known travel insurance providers. You can purchase a year’s travel insurance for well under £100. By comparing quotes you can also be assured you’re getting the very best possible deal. Our favourite comparison site? Moneysupermarket.com.
Now for the good news. You might not have to fork out a penny for good travel insurance... you can win a worldwide insurance plan for two people for free. All you need to do is click here and take part in our sister site’s competition for free travel insurance. Sounds too good to be true? Just click and enter.
But, whatever happens, make sure you have travel insurance on your next trip!!!
