A new survey from AllClear Travel Insurance asked a representative sample of 2,212 adults which countries they thought would be the most expensive in terms of medical costs if they became ill abroad. This was compared to another question about travel insurance – which asked people whether they would be willing to pay a little more for travel cover with better medical cover, or whether the global cost pressures of a holiday would force people to pay less for its policy.
Key Takeaways
Although more than three in four (78%) correctly identified the US as being expensive in terms of medical costs (78%), a smaller percentage (71%) would be willing to pay more for a policy with the best medical coverage. Additionally, 29% would look to spend less on travel coverage (29%) when visiting the US.
For other long-haul holiday destinations – such as Thailand, Australia and Jamaica – around three in five people said they would pay more for travel insurance with the best possible medical cover, even if they didn’t consider some of the countries particularly expensive. for medical expenses.
For short-haul European destinations – such as Portugal and Italy – cheap cover was more important than a quality insurance product, with 68% saying they would not prioritize quality medical cover. Instead, they would look to save on travel insurance costs – although for many, the overall cost of a European holiday would typically be much lower than long-haul travel.
People with health problems putting themselves at risk
AllClear’s research suggested that the very people who need good medical coverage – those traveling with health problems – are less likely to pay more for travel insurance with the best medical coverage. This trend was common on vacations in many long-distance destinations. For example, 73% of people with health problems consider the US to be the most expensive destination for falling ill abroad, but three in 10 (30%) would choose to cut costs on their travel insurance due to the overall cost of going on holiday there. .
By comparing how men and women choose to spend their money on travel insurance, AllClear research revealed that women are more likely than men to pay more for a premium travel policy that has the best possible medical coverage. For example, women are 11% more likely than men to pay for the best possible medical coverage when visiting Thailand (66% vs 53%) – and 10% more likely when traveling to India (65% vs 55%) .
Regional highlights
Looking across all regions of the UK, people from Yorkshire were most likely to pay more for medical cover when visiting the US (76%). However, people from the East Midlands were happier to pay more for travel insurance when they went to India (69%), Australia (66%) and Canada (65%). In contrast, Scottish tourists were the most likely to save on the cost of their travel insurance when visiting countries such as Portugal (71%), Italy (70%), India (47%) and the US (34%).
AllClear recently partnered with Age Co – the commercial arm of the charity Age UK, to launch a new travel insurance offering aimed at older travelers and people with health conditions.
