One in six Brits don’t buy travel insurance until the day of their holiday
25 July 2018
One in six (16%) of holidaymakers put off buying travel insurance until the day of, or the day before they go on holiday, according to Co-op Insurance*
The insurer’s data reveals how Brits are leaving it until the last minute to take out travel insurance, putting themselves at risk financially, in the event a trip doesn’t go ahead as planned.
In addition to the one in six travellers who leave it until their holiday begins before taking out insurance, two fifths (37%) don’t arrange cover until the week before their holiday.
The insurer is therefore advising Brits going away this summer to take out insurance as soon as a holiday has been booked, to avoid being disappointed and of pocket, should anything go wrong.
For families travelling with children, this is particularly important as Co-op’s research highlights that over a quarter of parents (26%) have cancelled or have considered cancelling a holiday because their child was unwell. **
Colin Butler, Head of Travel Insurance at Co-op said:
“It concerns me that two in five (37%) of people don’t take out travel insurance, but for those who do, it’s really important cover is taken out as soon as a holiday is booked. By doing so, people are covering themselves for scheduled airline failures, sickness meaning a holiday must be cancelled and accommodation cancellations.
“Children commonly pick up bugs which can result in families choosing to cancel a planned holiday. Where this does happen and there’s no insurance in place, families can be left out of pocket for the cost of their holiday.”
Top tips when taking out travel cover from Colin Butler
- Check your insurer covers you for SAFI (scheduled Airline Failure Insurance), this means that in the event the airline your flying with goes bust
- Be honest with any medical conditions you may have to ensure that if you do need to claim on your insurance, you’ll be fully covered
- Buy as soon as you book - When it comes to travel insurance, it’s always best to take it out as soon as you book a holiday. This way, if there are any unexpected changes or cancellations before the trip, you’ll be covered
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Based on data from those who have taken out Co-op Travel Insurance *Research was conducted among 2000 parents in April 2018 on behalf of the Co-op by Atomik Research.
Co-op Travel Insurance’s Kids go Free offer started on 1st June – policies must be bought before 30th September 2018. Excludes cover for any pre-existing medical conditions. Covers up to three children under the age of 18 per paying adult.
About Co-op Travel Insurance Co-op Travel Insurance is part of Co-op Insurance Services Limited and is underwritten by MAPFRE. Full policy details can be found here: https://www.co-opinsurance.co.uk/travel-insurance/policy-documents
About Co-op Insurance: Co-op Insurance is part of the Co-op, one of the world’s largest consumer co-ops, owned by millions of members. Alongside Co-op Insurance, we have the UK’s fifth biggest food retailer, the UK’s number one funeral services provider, and a developing legal services business.
As well as having clear financial and operational objectives, the Co-op is a recognised leader for its social goals and community-led programmes.