TripAdvisor LLC

TripAdvisor LLC

July 08, 2008 05:16 ET

Brits at Risk With Fall in Travel Insurance

Insurance Claims Frustrating and Time Consuming Brits Insure Health While Rest of the World Worries about Trip Cancellation

LONDON, UNITED KINGDOM--(Marketwire - July 8, 2008) - TripAdvisor®, the world's largest travel community, has completed a survey about travel insurance involving more than 3,700 travellers around the globe.

While British travellers are among the best insured with 85 percent claiming to purchase travel insurance compared with 73 percent worldwide we could be taking a risk with vital travel cover during the coming year. Eighty-four percent of British travellers said they bought travel insurance in the last 12 months, while ten percent less (74 percent) plan to buy travel insurance in the next 12 months.

Getting the Best Deal

Meanwhile British travellers seem to be the keenest bargain hunters when it comes to travel insurance, with 89 percent claiming to check a quote on a price comparison site and only 11 percent accepting the first quote. This compares with fifty-eight and forty-two percent respectively of all travellers taking part in the survey.

Brits are also more likely to take advantage of the economies of scale offered by multi-trip policies. Looking forward to the next 12 months, 69 percent of British travellers say they plan to buy annual multi-trip policies and only 17 percent single-trip cover. Worldwide, the situation is reversed with 40 percent of all travellers opting for single-trip cover and only 18 percent multi-trip.

Making a Claim

Forty-five percent of British and 29 percent of all travellers said they had previously made a travel insurance claim. Describing the process, 22 percent of Brits said it was frustrating and 26 percent, time consuming. The most difficult part of the process for 31 percent of British travellers was substantiating the claim, whereas for 23 percent it was simply dealing with a claims department.

It would seem however that British bulldog perseverance pays off with only
14 percent saying that they had been refused a claim. The most common reason given by British travellers (46 percent) for a refusal was inability to substantiate the claim.

Peace of Mind

The main reason for buying travel insurance was peace of mind according to 68 percent of British and 51 percent of all travellers. When it comes to the type of insurance cover, British travellers are much more concerned about their medical welfare and less concerned with cancellations than the rest of the world. Asked about what was the most important cover, 76 percent of Brits said medical/health, which was only rated as important for 38 percent all travellers worldwide. Thirty-nine percent of all TripAdvisor travellers said trip cancellation was the most important item to cover, but this was only rated important by 11 percent of Brits.

About TripAdvisor Media Network

TripAdvisor® Media Network, operated by TripAdvisor, LLC, attracts nearly 32 million monthly visitors(i) across 12 popular travel brands, TripAdvisor®, airfarewatchdog.com™, bookingbuddy.com ™, cruisecritic.com™, holidaywatchdog.com™, independenttraveler.com™, onetime.com™, seatguru.com™, smartertravel.com™, travel-library.com™, travelpod.com™ and virtualtourist.com™. TripAdvisor-branded sites make up the largest travel community in the world, with 24 million monthly visitors(i), six million registered members and 15 million reviews and opinions. Featuring real advice from real travelers, TripAdvisor-branded sites cover 300,000+ hotels and attractions and operate in the U.S. (http://www.tripadvisor.com), the U.K. (http://www.tripadvisor.co.uk), Ireland (http://www.tripadvisor.ie), France (http://www.tripadvisor.fr), Germany (http://www.tripadvisor.de), Italy (http://www.tripadvisor.it), and Spain (http://www.tripadvisor.es).

(i)Source: comScore Media Metrix, Digital Calculator Report, July 2007

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