Does travel insurance save you money?
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We know travel insurance might feel like another item on your pre-holiday to-do list (probably the least exciting, too), but the peace of mind it provides is invaluable – let alone the financial protection it offers if things go wrong.
What does travel insurance cover?
With the right level of travel insurance, you can holiday with the peace of mind that you have:
- Financial cover: For medical treatment, lost luggage and cancelled trips
- Legal cover: If you need legal assistance or advice while abroad
- Personal liability: If you accidentally cause injury or damage to property
- Activity cover: For specific activities like skiing or scuba diving
LV= Travel insurance Stats…
- The average claim for medical bills in 2025 was £2,676
- The average claim for lost/stolen or damaged luggage in 2025 was £298.83
- The average claim for cancelled holidays in 2025 was £1,316
- The highest medical bill in 2025 was £415,994
- The highest claim for lost luggage in 2025 was £7,185
- The highest claim for cancelled holidays in 2025 was £34,100
Did you know, the most common holiday destinations our customers have had to make a claim for include:
- Spain 21.7%
- France 7.8%
- Greece 6.7%
- Portugal 4.9%
- Italy 4.7%
- USA 4.7%
The USA also leads the way for the most expensive medical claims, thanks to high healthcare costs, with Spain, Italy, Greece, and France not far behind.
So, if you're heading to any of these destinations, having the right travel insurance is key to protecting yourself from unexpected expenses. Get a travel insurance quote today.
With so many travel insurance options out there, it’s important to choose a policy that suits your specific needs. Here are a few things to consider…
Does travel insurance cover lost luggage?
Imagine arriving at your dream destination, but your suitcase hasn’t made it. Lost or delayed luggage is one of the most common travel mishaps, leaving you without your holiday essentials and potentially out of pocket. Our results showed travellers who had to pay to replace lost or stolen items, were faced with an average cost of £359. Even baggage delays can be a problem, but having the right insurance can cover you for that. It’s worth remembering that when things go wrong on holiday, it can be extremely costly and often far more than the cost of travel insurance.
Does travel insurance cover medical bills?
No one wants to think about falling ill or having an accident while on holiday, but medical emergencies can happen to any traveller. Healthcare abroad can be expensive, and without the right travel insurance, you could end up with a large bill.
Our data shows the average cost of a medical emergency claim was a staggering £3,208.52 in August 2024, with the USA topping the list as the most expensive destination because of its high medical costs! So, one thing to consider when flying across the pond is making sure you’ve got good medical cover, you never know what might happen.
Does travel insurance cover cancelled holidays?
Sometimes, life throws curveballs that are beyond our control, like a cancelled flight, but sometimes it’s us who need to cancel a trip because of illness, the loss of a loved one, or unexpected global events. Trip cancellations can come with a hefty price tag though - especially if you don’t have travel insurance. Our travel cancellation coverage lets you reclaim some or all of the money you've already paid out - if needed in an emergency!
Many holidaymakers have had to cut their holidays short and leave the country due to natural disasters or extreme weather, making it even more important to stay prepared and covered when travelling abroad. Having the right insurance can save you from unexpected costs and stress when things go wrong.
How do you choose the right travel insurance?
When it comes to travel insurance, it’s important to make sure you have the right level of cover for your trip…
- Destination: Make sure your policy covers all the regions you’ll be visiting
- Length of Trip: For longer trips, you may need extended coverage
- Activities: If you plan on like skiing or any adventure sports, check your policy covers them
- Excess: Know the excess (the amount you'll need to pay) if you make a claim
Travel insurance is an important part of holiday planning. It’s not just about the premium cost, it’s about protecting yourself from the much higher cost of being unprotected.
With the right policy, you can travel with peace of mind, knowing you're covered for any unexpected bumps along the way.
So, all you’ll need to do is kick back, relax and enjoy your trip!
Get an LV Travel Insurance quote today