Skimp On Travel Insurance At Your Own Peril

12:45 Thu 05th Jan 2012 |
Most sensible holiday makers know the value of investing in travel insurance; even if nothing happens there is always that feeling of security and knowing that if the worst does happen you will not have to fork out an arm and a leg to fix an arm and a leg.
However, around 3 million people a year still do not get travel insurance when they go away, perhaps because they are trying to save money or think “it will never happen to me”. A recent report from a leading insurance company has revealed that true cost of not getting travel insurance.
In one particular case a man, who was ultimately found to be in perfect health, had to have 16 hours of tests while on holiday in the US to rule out serious illness. Although he was glad to be well he came out with a bill for more than $20,000 which works out to about £1,250 per hour. At these rates just ten minutes of his treatment would have more than paid for the cost of travel insurance.
"Apart from skiing in Europe, Britons tend to travel further afield at this time of year to find the sun. Without good travel insurance literally millions are at risk from expensive medical bills," said a travel insurance spokesperson.
If you have to have hospital treatment abroad the average cost is now in excess of £2,000 with the most expensive country being the US with an estimated average cost of a stay in hospital at £6,000. The cheapest country is Bulgaria, with the average visit to hospital costing £500, however, there are no reports about the quality of care.
Even outpatient treatment in foreign countries can stretch the budget with average costs ranging from £200 to £450 for problems such as insect bites and ear infections to head wounds and bronchitis.
The message is always buy insurance, it will be worth it one day.
Have a great holiday!

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