Costa fortune travel needs cost effective insurance
Insurance technology specialist Aquarium Software is calling on travel Insurance providers to deploy modern software to reach consumers who travel abroad, blissfully unaware of the dangers of doing so without cover. Millions of Brits take a chance when accidents, illness or repatriation can cost eye-watering sums.
One in four Brits head abroad without insurance, with European travel seeing the fewest (25 percent) uninsured. EHIC alone is not enough, and more education is needed on the risks of being ill abroad with no cover.
Claims are on the rise, yet the number of written premiums is in decline.
When insurance is being used more than ever, millions more are counting the cost of failing to protect that which is most important.
Yet, securing comprehensive cover at an affordable price, even with pre-existing medical conditions is possible.
Apps make it easier to disclose conditions and puts essential details at the heart of policies, giving providers the power to tailor cover to individual circumstances rather than general risk - essential should you fall ill abroad, or suffer death in paradise.
Die abroad without insurance and you may well lie where you fall.
“Too many of us have our eyes on the luxury hotel and forget about the five star travel insurance we need to go with it,” said Aquarium Software Director, Mark Colonnese.
“The insurance industry must do more to get the message across that travel insurance is a necessity.
Software has a role to play, via apps, comparison sites and social media, linking communication streams and bringing new products to market fast.”
“We cover our cars and homes yet remain unwilling to protect ourselves at a time we are most vulnerable to physical and financial harm,” added Colonnese.
“Travel insurance has never been so affordable, yet too few appreciate the reality of illness abroad and the pain of not having cover.
A heart attack in the US could lead to another, if a £230,000 medical bill follows treatment.
This can come as a shock to Brits used to the NHS. A death overseas is tragic enough, without family needing to find thousands to have a body brought home.
So, unless you are content with some corner of a foreign field being forever England, insurance is a must,” Colonnese concluded.