General Insurance Article - Lack of travel insurance for children can put them at risk

 Of these, a third had to use a credit card and another third were forced to use savings to fund treatment, with no insurance to fall back on. The findings mirror a YouGov survey commissioned by Aquarium Software, which revealed very similar attitudes (51 percent of parents/guardians not covered by any travel insurance policy, and 12 percent admitting they never were). If parents realised the cost of treating a sick child abroad, they might think again.

 “The average claim for a sick child on holiday is over £600 and specific treatments can cost thousands of pounds,” said Aquarium Software Director, Mark Colonnese. “It is frightening so few children are insured and we are working to make insurance more accessible for families, with new technology delivering information direct to mobile devices and offering online screening for cheaper premiums; but we have to all get better at explaining the true value of adequate cover,” added Mark.

 “Of parents with 5-11 year olds who have insurance, 77% have never claimed, so it’s hardly a surprise that many families see travel insurance as just another avoidable expense*,” said Mark. If the perceived price is too high and the perceived benefit too low, people may take unnecessary risks,” he added. “Despite increasing numbers of trips abroad, policies are in decline and we must accept the industry has an image problem in certain quarters. Technology enables us to spell out exactly what’s included and make policy recommendations based on the likely activities and risks associated with particular destinations,” Mark concluded.