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More families than ever before are choosing to take a “stay-cation” in Britain this summer. Recent research showed that very few families bother to take out travel insurance for these UK stays. Should we be buying insurance cover for holidays spent at home?
In this article about insurance cover for UK holidays we shall examine:
- The reasons why an increasing number of UK residents are staying in the UK for their holidays
- The high numbers of holidaymakers without insurance cover
- Different kinds of holiday insurance ideal for UK breaks
- The option of buying single trip insurance
- Popular British holiday resorts
- The increasing numbers of foreign tourists and what they spend
Why are an increasing amount of Britons choosing to holiday in the UK this year?
There are many reasons as to why Britons are deciding to stay in the UK this year. One of the most obvious reasons is the falling rate of Sterling against the the Euro which means that foreign holidays are a lot more expensive than they have been in years gone by.
According to a recent survey by accommodation provider, Airbnb, the most popular reason for people to holiday in the UK is that it is much less stressful than holidaying abroad. Almost half of those surveyed thought that the British scenery was just as nice as it is abroad and almost as many said that they had a lot to still discover by spending holidays in the UK.
The falling rate of Sterling against the the Euro means that foreign holidays are a lot more expensive than they have been in recent years.
Many “staycationers” do not have holiday insurance
The British insurer, Policy Expert, recently conducted a study of 2,500 Britons. Their findings showed that an amazing 75% of those asked, were going to be holidaying in the UK this summer. Of those who participated, half admitted that they did not have any insurance policy that would cover them in the event of their possessions being damaged or stolen. Most admitted that their home insurance policies did not cover them for belongings once they are removed from the home.
The research also showed that 8% of those asked had been victims of theft and loss or damage to possessions whilst on holiday. The most common items affected were mobile phones, cameras, wallets and jewellery. Despite these statistics, only13% said that they would take out insurance cover for a British holiday.
What kind of travel insurance is suitable for UK holidays
Many travellers assume that they do not need cover for UK breaks, but the truth is that if the worst were to happen you could be in as much trouble as you would be if you were travelling abroad. Many annual policies cover trips within the UK as well as holidays abroad. Policies always need to be carefully checked, as some insurers stipulate the distance from home that you have to be, or that the trip must be for a certain amount of days in order for the policy to be effective.
Medical insurance is not such a big concern as we have free NHS cover, but an insurance policy could help a person with any travel costs that were incurred until they could be moved to a hospital nearer to home. Your car would be insured by the car’s insurer and many belongings can be covered by household insurance policies. Many policies state that belongings are not insured outside of the home unless you have “personal possessions cover”.
Insurance could provide cover for cancellation fees
With many UK holidays costing the same price as holidays abroad, it is a good idea to have some kind of cover in case you were not able to travel. Reasons for a cancelling a holiday could be due to bereavement, illness or even sudden jury service. Many cottage holidays can cost up to 1000 pounds for a weeks stay, which is a lot of money to lose through unfortunate circumstances.
Some holiday rental companies like English Country Cottages include a cancellation cover that would see your money refunded if you were to suffer a family medical emergency and could not travel. This cover even includes those looking for travel insurance for over 70s. Insurance policies should be checked to make sure that they do not just cover you from the starting date of the holiday as anything before this could not be covered.
So what have we learned so far?
- More people than ever before are choosing UK holidays
- They say British holidays are less stressful and more economical
- Half of all domestic tourists do not have holiday insurance cover
- The number of victims who had experienced theft, loss, or damage to possessions on holiday was 8%
- Existing insurance policies could mean that you are covered
- Cancellation fees could be covered by a good holiday insurance policy
- Some holiday letting companies have cancellation cover included in the rental price
You can find very good deals for single trip insurance
Holidays can often be ruined in the case of theft or loss of personal possessions. There are many different types of insurance cover available and the prices differ depending on what it is that the policy is covering. As health insurance would not be required if a family were holidaying in the UK, policies can cost considerably less for just basic cover. It is a good idea to shop around for the best deals if insuring yourselves on a UK holiday is something that you feel is worthwhile.
Where are the most popular places to visit in the UK?
The city of London, Cornwall and the Lake District are the most popular holiday destinations in the UK. All of these holiday resorts are expecting a record number of visitors as many Britons have decided to stay at home as opposed to taking holidays abroad. The fall in the price of Sterling means that an average family of four are paying on average 250 pounds more for their holiday than they were before Brexit. TravelSupermarket also goes on to report that the average family of four takes 2050 pounds away with them to spend on holiday.
Travel insurance questions:
Travel insurance policies typically will only cover a holiday within the UK if you have pre-booked your accommodation. Your stay must also be for more than two or three nights consecutively, according to the terms of standard insurance policies.
It is advised that you take out travel insurance while travelling in the UK to be covered in the event that things go wrong during your trip. You could be covered for lost luggage or personal items as well as trip delays or cancellations. As you would still be covered by the NHS, the medical cover is not crucial as part of your travel insurance policy.
If you are looking for ways to reduce the cost of your travel insurance policy, and you have planned an extensive trip, then you may wish to consider taking out a travel insurance policy for only part of your trip. You must, however, be aware that this type of policy will only provide you with the selected coverage for the stages of your trip that you have declared to your travel insurance company.
Foreign tourism is on the rise thanks to the low value of the pound
Millions of foreign tourists are taking advantage of the weakened pound and flocking to Britain for their holidays. Not only are they stocking up on luxury British merchandise, but they are filling hotels and eateries with much needed cash. From January till April 2017 a record number of 11.8 million visitors came to spend time in Britain. This is up by 11% on the same time last year. They spent a staggering 6.2 billion pounds during their stay which is up by 14%.
It was feared that Britain’s exit from the EU may have lowered the numbers of tourists visiting Britain as many may have felt rejected by Britain and would not want to holiday here. These fears have been proved wrong by tourist visits from 27 EU countries increasing by 7% on 2016.
So what conclusions can we draw about the usefulness of travel insurance for UK holidays?
It seems that many consumers can be covered by existing house insurance policies for their personal possessions when they are away from home. It is very important to read policies carefully to check exactly what cover you have in order to avoid paying twice for it. Holidays could be ruined if valuable possessions were lost or stolen.
With many UK holidays costing a lot of money, a policy that would include cancellation cover could be a life saver in the event of unfortunate circumstances. The option of buying insurance cover depends very much on the individual’s circumstances and their attitude to risk. It could be worth buying it for more peace of mind, enabling you to have a more relaxing, less stressful holiday.