Credit crunch 'no reason to avoid insurance'
30.09.2008
The credit crunch is no reason to go without travel insurance, an expert states.
John Boyles, an account manager at Endsleigh Insurance, warns that anyone leaving the country, even for a short European break, must ensure they are adequately covered in case of a mishap.
A number of people believe they are covered by reciprocal agreements should anything happen but this will not cover them against everything, he continues.
"If you travel abroad without insurance than in my opinion you must be crazy. The costs can be enormous and nobody is exempt or immune from something untoward happening to them," Mr Bolyes argues.
Furthermore, travel insurance policy holders must check the small print to ensure all their activities are covered, he notes, warning some extreme sports and activities may not be.
The Foreign and Commonwealth Office warns the average cost of getting treatment for a broken leg in America is £24,000, while anyone hospitalised in Greece for a week faces a bill of between £4,000 and £5,000.
John Boyles, an account manager at Endsleigh Insurance, warns that anyone leaving the country, even for a short European break, must ensure they are adequately covered in case of a mishap.
A number of people believe they are covered by reciprocal agreements should anything happen but this will not cover them against everything, he continues.
"If you travel abroad without insurance than in my opinion you must be crazy. The costs can be enormous and nobody is exempt or immune from something untoward happening to them," Mr Bolyes argues.
Furthermore, travel insurance policy holders must check the small print to ensure all their activities are covered, he notes, warning some extreme sports and activities may not be.
The Foreign and Commonwealth Office warns the average cost of getting treatment for a broken leg in America is £24,000, while anyone hospitalised in Greece for a week faces a bill of between £4,000 and £5,000.