Sunday 25 February 2018

Revealed: The Top 5 reasons for Irish travel insurance claims

Travel insurance

Do Castelo Beach, Albufeira. Photo: Education Images/UIG via Getty Images
Do Castelo Beach, Albufeira. Photo: Education Images/UIG via Getty Images
Pól Ó Conghaile

Pól Ó Conghaile

Trip cancellation accounts for more than half of all travel insurance claims in Ireland, a new study reveals.

The study, by Allianz Global Assistance Ireland, found that 51pc of all travel insurance claims in 2016 came on foot of trip cancellation - due to factors ranging from unforeseen illness to accidental injury and bereavement.

Medical reimbursement is the second most common reason for travel claims, with 14pc of claimants filing for hospital stays, medicines and doctors' bills, while loss of personal possessions such as wallets, phones and luggage accounts for 11pc.

Top 5 Reasons for Travel Insurance Claims 2016

  1. Trip cancellation 51%.
  2.  Medical reimbursement 14%
  3. Loss of personal possessions 11%
  4. Travel delay 7%
  5. Trip interruption 5%

Source: Allianz Global Assistance Ireland

Travel delay accounted for 7pc of claims in 2016, according to Allianz, while trip interruptions arising during travel accounted for 5pc.

The data comes during a boom in overseas travel, as new figures show a record number of Irish people took trips abroad in 2016.

According to the Central Statistics Office, (CSO), more than 6.8 million Irish residents travelled overseas between January and November 2016, compared to 6.5 million who travelled abroad in the same period in 2015, and 6.1 million in 2014.

"You may feel travel insurance is an unnecessary extra cost, but if you are investing hard earned money on a holiday and you go without travel cover your dream trip could turn into a nightmare," said Roland Hesse, Managing Director at Allianz Global Assistance Ireland.

Travellers are advised to check out all policies in great detail, to read the small print, and to get the right insurance policy to suit them. 

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