Travel claims cost insurers more than £500m in 2023

Insurers paid out over £500m for travel claims during 2023, new figures from the ABI have revealed.

The trade body’s data, which was published today (22 August 2024), showed that 574,000 travel insurance claims were made last year.

This totalled £511m – £41.7m of this figure came from claims for Spain, with 29,000 being recorded.

Some £291m came from medical claims, meanwhile, with the average cost of this standing at £1,724.

This can increase in some cases though. For example, one ABI member paid out £25,000 in repatriation and medical costs for a customer who sustained injuries in a forest fire.

Ages

Payouts for all types of claims also rose with age – for example, the average claim value for those aged 36-40 was £518 and increased to £1,830 for travellers aged 71-75.

ABI policy adviser Lucie Hart, who specialises in travel cover, said: “No one wants to think of anything spoiling their holiday but if you do fall ill, you could be left counting the cost for many years.

“Travel insurance ought to be at the top of everyone’s packing list and it’s essential to make sure you’re properly covered should the worst happen.

“Unfortunately, many of us can make simple mistakes when taking out insurance, such as not disclosing pre-existing medical conditions or buying insurance once you’re already on holiday, which may invalidate your policy.”