This has reached an eight-year high, a level not seen since Iceland’s volcano erupted in 2010, which resulted in extensive transport disruption and a huge increase in claims for the travel insurance medical conditions.
Do travel insurance really pay?
Yes, to answer briefly. Last year, there were over 510,000 claims filed, and insurance firms paid out an average of slightly over £1 million each day. Payouts in sum of £755 on average per claim.
These claims included anything from missed travel funds to medical expenses and vacation cancellations. The majority of claims, however, were for medical reasons, accounting for 52% of all payouts. These charges included hospital visits, medications from abroad, doctor’s appointments, and even air ambulances used for repatriation.
For an unhappy individual who had a perforated lung and a shattered rib, the highest charge was almost £90,000. Paying the bill would be the worse experience besides the anguish of the injury!
One claim obstructed bowel cost almost £20,000, while another’s torn knee ligament cost close to £4,000 before the traveller could catch a flight home.