Travel insurance - the new ‘must have’ purchase!

The travel market is seeing strong growth as global travel opens up, following the relaxation of Covid-19 restrictions, with increasing numbers of travellers now arranging holidays abroad.

Family holidays in Europe and short duration trips showed the first signs of recovery in 2022. Long-haul trips and transatlantic flights are expected to return to pre-pandemic levels as customer confidence and airline capacity improve throughout 2022.
Whereas previously, some travellers chose to ignore the advice to take out travel insurance, it is now perceived as the new ‘must have’ purchase. Cancellation and abandonment of trips has been commonplace and the need for medical assistance a real possibility, and tourists now have a greater acceptance that when they book their holiday, there is a real probability they could experience these issues.
With so many stung by the pandemic’s impact on previous holiday plans, there is a greater understanding of how travel insurance can alleviate the situation and ensure travellers are not left out of pocket.
Forecasts reveal a potential growth of 13.3% of revenue generated by travel insurance purchases compared to pre-pandemic levels in 2019. With travel plans now so dependent on having insurance in place, it means that quality travel insurance policies really do play a vital role in the tourist industry’s recovery
Along with the peace of mind that travel insurance brings, however, comes increased prices. In part this is to help recover the cost of the many Covid-19 claims but is also due to the increased costs of overseas medical care. For example, as a result of ongoing testing requirements and entry restrictions, which vary considerably from country to country, it can be difficult to arrange medical escorts or air ambulances to fly people home. This is all helping to drive costs upwards.
As a result of market conditions, insurance companies have been working hard to improve cover so that it is appropriate for the post-pandemic market. Cancellation and medical expenses are key, providing effective cover against risks. There is also the option to extend cover if customers cannot return home because of illness, pandemic-related travel disruption, or border closures.
NLIG has many years’ experience arranging travel insurance and is happy to advise you on the level of cover you need to have post-Covid, ensuring you benefit from quality cover that offers you full protection against risks. If you are planning or booking a holiday abroad, please contact us so we can ensure you have adequate cover for your needs at a competitive rate. Call NLIG on 01992 703007 or email