Travel insurers face double whammy

Travel insurers are under pressure to beef up cover at a time when demand for policies is falling.

Research from digital marketing agency AccurfaCast found that 42% of the 1,500 people questioned had no plans to travel in 2021. Those that do plan to travel want more from their insurance policy.

The top priority was cover for cancellation due to COVID-19 restrictions, followed closely by medical cover including for COVID-19 related issues.

Farhad Divecha, managing director and founder of AccuraCast, said: “The travel industry has already taken a massive hit from COVID-19, and the results of this survey show that 2021 isn’t necessarily going to get any easier.

“For those who are looking to travel, protection against COVID-19-related cancellations and illnesses are top of the priority list, meaning that insurers need to make sure their policies have this covered if they want consumers to feel safe when travelling this year.”

Antony Martin, managing director at Rock Insurance Group, added: “It is also important for consumers to be aware of changes regarding their European Health Insurance Cards. Most people’s EHICs were valid until 31st December 2020 when the Brexit transition period ended and are now being replaced with the Global European Health Insurance Card, which just covers EU countries (and not Norway, Iceland, Liechtenstein or Switzerland).

“Before the pandemic hit, 80% of all trips taken from the UK were to Europe and historically 30% of these customers didn’t take out travel insurance and instead relied entirely on the EHIC card to protect them.”

    Share Story:

Recent Stories