ABI releases travel insurance claims figures

The Association of British Insurers (ABI) has published its latest set of data for travel insurance claims.

A significant portion of the claims, nearly 29,000, were linked to Spain, amounting to £41.7 million – a reflection of Spain’s popularity as a top travel destination among British holidaymakers.

It was also highlighted that claim payouts tend to increase with the policyholder’s age. ABI said the average claim for individuals aged 36 to 40 was valued at £518, while those in the 71-75 age group were lodging claims worth £1,830 on average.

The age-related risk is mirrored in the average premium costs, with a single trip policy costing £38 for the younger age bracket and rising to £190 for the older demographic.

Medical expenses made up the bulk of the claims, with total medical claim payouts amounting to £291 million in 2023. The average medical claim was £1,724, though this can vary significantly.

One notable case involved an ABI member who paid out £25,000 for the repatriation and medical treatment of a customer injured in a forest fire.

“No one wants to think of anything spoiling their holiday but if you do fall ill, you could be left counting the cost for many years,” ABI policy adviser Lucie Hart (pictured) said.

“Travel insurance ought to be at the top of everyone’s packing list, and it’s essential to make sure you’re properly covered should the worst happen.  

“Unfortunately, many of us can make simple mistakes when taking out insurance, such as not disclosing pre-existing medical conditions or buying insurance once you’re already on holiday, which may invalidate your policy.”

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