Holiday Travellers Chancing More Than Just the Weather This Summer

Holiday Travellers Chancing More Than Just the Weather This Summer

LONDON, May 28, 2012-

      - Hiscox survey finds one in five don’t know if they are covered when they

                        go on holiday -

  As Britons gear up for their summer holidays, new research reveals that many are
chancing more than just the weather with their holiday planning. According to specialist
insurer Hiscox [http://www.hiscox.co.uk ], 19% of those surveyed* said they either don’t
bother taking out a specialist travel insurance policy, think that they are covered under
another insurance policy such as health, or simply do not know. When it comes to
understanding what exactly they are covered for following the loss of valuables or
luggage, there is an even greater level of complacency with one in ten (10%) respondents
being unsure or not having checked if they are covered by an insurance policy.

  Commenting on the findings, Colin Wallace, insurance expert from Hiscox said: “Recent
changes in the rules governing the sales of holidays have further strengthened consumer
protection. However understanding what you are covered for can become confusing and there
is a worrying degree of complacency when it comes to Britons making sure that they have
the right travel insurance, or indeed any cover at all.

  “Taking the time to think through your travel plans and what type of cover you need
can help take the stress out of travel. Comprehensive travel insurance, such as the Hiscox
policy, should cover you for eventualities that you may not always be aware of, such as
the financial failure of a flight or other travel service disruption.”

  I’m covered…aren’t I?

 
  - The research found that 18% assume that their travel agent or airline
    would compensate them for flight cancellation. However this can be dependent on the
    exact circumstances of the disruption
  - 21% thought that a travel industry body would cover them for flight
    cancellation, but again this is dependent on many factors such as how you booked the
    flight and if the airline is based in the EU
  - 26% assume they are covered by a travel policy from their bank account
    although these policies may not include financial protection if the accommodation
    provider goes bust
  - 13% haven’t checked or are unsure of what cover they have if their flights are
    cancelled
  - One in ten are unsure as to whether they would be covered for a medical
    emergency when on holiday
  - Thrill seekers looking for some extreme sports action on their holiday are
    taking more risk than they should with 36% only sometimes checking, or simply never
    checking, whether their travel insurance will cover them for the activity they are
    undertaking such as bungee jumping or white water rafting; activities which are not
    always covered as standard
  - Check that your travel policy covers all of your planned activities. Riskier
    winter sports such as ski /snowboard racing, jumping, acrobatics, aerials and other
    activities are sometimes excluded and separate specialist cover may need to be added
    to the policy

  Notes to editors

  *2,284 online interviews with ABC1 respondents, working full time, were conducted from
11-13 April 2012 on behalf of Hiscox by Opinium Research LLP.

  Hiscox travel insurance cover includes:

 
  - Up to GBP10 million emergency medical cover
  - Up to GBP2 million personal liability cover
  - Up to GBP50,000 legal expenses
  - Up to GBP10,000 for political unrest and natural catastrophe evacuation to get
    you to a safe destination and includes specialist assistance support
  - Up to GBP5,000 for cancellation and curtailment if a trip needs to be cut
    short due to an emergency such as your home being flooded
  - Extended travel disruption cover for missed departure in the case you miss a
    flight or can’t travel due to a strike, industrial action or mechanical breakdown,
    this cover is especially important for independent travellers
  - Reimbursement of the excess for damage or theft if you rent a car and includes
    the cost of replacing the car keys.
  - The policy also gives clients the choice to select additional covers they
    might need, such as cover for their winter ski holiday or, if they run their own
    business for example, the opportunity to cover themselves when they are away on a
    business trip. These additional options include:
  - Baggage and money cover, including new for old cover for personal belongings
  - Business Travel cover which includes the cost of a close business associate to
    replace you if you are unable to attend a pre-arranged meeting and the cost of
    replacing business equipment
  - Golf equipment in the case it is lost, stolen or damaged and green fees if you
    can’t attend due to illness, an accident or are prevented from playing due to losing
    personal documents
  - Winter Sports, including off-piste skiing within the ski area boundaries of a
    recognised ski resort
  - Extended sports activity cover for ‘high octane’ activities such as white
    water rafting, quad biking and kite surfing

  About Hiscox

  Hiscox, the international specialist insurer, is headquartered in Bermuda and listed
on the London Stock Exchange (LSE:HSX). There are three main underwriting parts of the
Group - Hiscox London Market, Hiscox UK and Europe and Hiscox International. Hiscox London
Market underwrites internationally traded business in the London Market - generally large
or complex business which needs to be shared with other insurers or needs the
international licences of Lloyd’s. Hiscox UK and Hiscox Europe offer a range of specialist
insurance for professionals and business customers, as well as high net worth individuals.
Hiscox International includes operations in Bermuda, Guernsey and USA. Hiscox Insurance
Company Limited, Hiscox Underwriting Limited, Hiscox Europe Underwriting Limited and
Hiscox Syndicates Limited.

  Hiscox UK also offers professional indemnity insurance and small business insurance
[http://www.hiscox.co.uk/business-insurance ] products.

  For professional indemnity insurance quotes
[http://www.hiscox.co.uk/business-insurance/professional-indemnity-insurance ], quotes on
any Hiscox products and further information, visit http://www.hiscox.co.uk

 
  For further information please contact:

  Johanna Boland
  +44-(0)207-448-6494
  .(JavaScript must be enabled to view this email address)

Source: Hiscox