Travel money and card and insurance naturally go hand in hand. However, according to ABTA, 10 million holidaymakers travelled without the right cover last year, with many people feeling that it wasn’t needed.
ABTA’s research showed that two in five people (38%) – that’s 9.9 million Brits – have travelled abroad in the past 12 months without the right travel insurance.
Breaking down the figures:
- More than one in five (22%) people reported travelling on some holidays completely uninsured in the past 12 months.
- One in four (27%) British holidaymakers have risked invalidating their insurance by not telling their insurance companies about pre-existing medical conditions or by taking part in activities without checking they were covered under the policy.
- The most common reason for not buying travel insurance was that people felt it wasn’t needed – e.g. that the European Health Insurance Card (EHIC) would provide sufficient cover.
- For almost one third of people who didn’t buy travel insurance (29%) cost was a barrier and just over one in seven people (15%) said that they received insurance through their bank account.
Their research concluded that without sufficient cover, many families are having to raise money for treatment or repatriation, with some resorting to crowdfunding.
Our customers’ views
Mintel's latest research on the Travel Insurance Market report shows that the Post Office is seen as the most trusted, differentiated and competent brand. Price is the most important factor but brands like ours stand out through great customer service.
Our own research has shown that 44% of Post Office single trip customers bought their travel insurance less than three days before their holiday. The summer peak provides a great way to show how we can protect customers on their holidays, and there is plenty of opportunities to show we care all year round too.
There are lots of facts and stats and tips to help you have great conversations with your customers – read the Protecting is Caring Marketing campaign pack here. The pack also includes Vanessa’s story, a Travel Specialist in Manchester who shared her experience of having to claim on her travel insurance.