New research1 from Nationwide FlexPlus uncovers the top ten risky holiday activities, despite more than four in ten (43%) Brits taking chances by not having travel insurance.
The findings come as Nationwide recently predicted that, in a bid to offset the January blues and with February half term approaching, many will start planning and booking holidays.
The top ten risky activities people do while on holiday, according to the poll1 of 2,000 people, are:
- Watersports: done by 36% of people
- Cycling: 33%
- Hiking: 29%
- Skiing / snowboarding: 26%
- Scuba diving / snorkeling: 25%
- Climbing: 21%
- Quad biking: 20%
- Skydiving: 18%
- Bungee jumping: 15%
- Paragliding: 13%
While these activities will be on lots of people’s to-do lists when they are on holiday, it’s essential that they always check that any activity they want to take part in is covered by their travel insurance and carefully read the policy terms and conditions.
Nationwide’s poll highlighted that people are more than three times as likely to purchase travel insurance for an overseas trip (70%) versus a UK ‘staycation’ (21%), despite the potential for things like lost or stolen luggage, travel delays or cancellations to occur when holidaying either at home or abroad.
Travel insurance can provide general peace of mind with covering medical expenses (33%), flight delays or cancellations (21%) and lost and/or stolen luggage (11%) being some of the key things that people want covered, according to the survey. Aviva, which provides Nationwide’s FlexPlus travel insurance, sees a similar correlation when it comes to claims, with medical emergencies ranking highest followed by trip cancellations and delays to either baggage or travel.
According to the findings, those aged 35 to 44 are the most likely to go away without cover, with more than half (54%) admitting to doing so. This compares to 48 per cent of 25 to 34-year-olds, 39 per cent of those aged 45 to 54 and 36 per cent of those aged 55 and over. Interestingly, those aged 18 to 24 are the least likely to have gone away without cover, which may be due to 43 per cent of them saying they take part in riskier activities versus just 28 per cent of people aged 35 to 44.
While only 10 per cent of respondents said they’ve had a travel insurance claim declined, more than a third (34%) of those cases were because they had failed to declare a pre-existing medical condition, highlighting the importance of declaring these to the insurer before travelling. Two in five (40%) of the declines were because the right upgrade (e.g. winter sports cover) wasn’t purchased. The average cost of a declined claim, according to the poll, was around £1,200. However, according to Aviva, medical claims can escalate very quickly abroad, sometimes rising to hundreds of thousands of pounds.
Marta Edwards, Head of Current Accounts at Nationwide, said: “As we enter a busy period for booking holidays, people should ensure they have the right insurance in place once their holiday is booked. As our research shows, many people risk travelling without any cover and, while they will hopefully not need it, it can be an expensive gamble. Nationwide’s FlexPlus current account provides worldwide family travel insurance as one of its perks and we would encourage customers to talk to us about any upgrades they might need and any pre-existing conditions they have to ensure that their cover is appropriate.”
Nationwide’s FlexPlus current account is a market-leading2 packaged account with benefits including worldwide family travel insurance and commission-free usage abroad for £18 per month. This includes cover for winter sports and travel disruptions, while upgrades can be purchased to ensure customers have the cover they need. Reassuringly, given they are more likely to participate in risky activities, people under the age of 23 still living at home are covered by the FlexPlus travel insurance, even if they travel without the policy holder.
For those looking to move to take advantage of the benefits of the FlexPlus current account, Nationwide is currently offering a £175 switch incentive to customers who move their banking relationship to the world’s largest building society.
