Travel insurance myth 5: Travel insurance should not cost more than my holiday

Watch the animation to find out how the cost of travel insurance is calculated and why you should remember that you are insuring yourself, not just your holiday.

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Travel insurance myth 5: My holiday insurance should not cost more than my holiday: The transcript

If you want to find out why how the cost of your travel insurance is calculated, but don't want to, or can't watch the video we have reproduced the transcript below

Myth: My holiday insurance should not cost more than my holiday.

When you buy travel insurance you are actually insuring yourself not just your holiday.

Sometimes people complain that the cost of travel insurance is more than the holiday itself, but it is important to remember that you are insuring yourself, not just your holiday.

The most important element of travel insurance is the protection it provides against the risk of incurring large medical bills if you require emergency treatment abroad.

The price you pay is related to the cost of medical treatment in the country you are visiting, the length of time you will be there and the likelihood that you will require medical attention.

Emergency medical treatment abroad can quickly amount to many 1000s of pounds and it is these potential costs that you are protecting yourself from by buying travel insurance.

If your insurance cost is high it means that you could have an increased risk of requiring medical treatment whilst you are away and it is very important to ensure you have appropriate travel insurance cover.