Holidaymakers have been warned to buy travel insurance before they take a break after it emerged that close to one in three of claims are due to cancellations.
Research from leading insurer Peopl.ie shows that over the last two-and-a-half years huge numbers of claims were made before the policyholder even set foot on an airplane or boat with the two most common reasons for a travel insurance claim attributed to covering the cost of holiday cancellations and medical expenses.
Chief Executive of Peopl Insurance Paul Walsh said: “Our figures show that it is essential for holidaymakers to take their cover out at the time of booking their holiday.
“Holidaymakers who take out travel insurance only a week or two before they travel, or worse again, by doing so on their way to, or even from the airport, are leaving a major benefit of their travel insurance behind, and limiting the benefit of their holiday cancellation cover.”
Mr Walsh said it is important to “make sure you can afford the excess limit you set as you will need to cover this in the event of a claim”. The insurance experts also warned that honesty is paramount when it comes to disclosing pre-existing medical conditions to an insurer – otherwise, the policyholder runs the risk of the policy being invalid in the event of a claim.
