Is travel insurance worth it?

5 minute read

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How does travel insurance work, why’s it important, and how has it helped our customers when they needed it most? 

  • How does travel insurance work?
  • Real-life examples from LV= customers
  • What travel insurance can we offer you?
 

Ever wondered whether it’s really worth taking out travel insurance? With the rising cost-of-living crisis, you may think it seems a bit expensive for something you hopefully won’t even need. But whether you’re off to St Andrews for a round of golf, or Italy to make some dough, life happens while you’re busy making other plans. No matter how much you’ve planned for, there are bound to be bumps along the way, and you don’t want to be facing the costs alone when you’re caught off-guard.

How does travel insurance work?

In a nutshell, you pay an annual premium to cover you for all your adventures. We offer different cover levels and add-ons, depending on your plans. So, from cruises to skiing and all the beach resorts in between, there’s something here for everyone. 

Once it’s set up, you can go off and enjoy everything you’ve booked with the peace of mind that, should anything go wrong (we’re talking travel delays, lost baggage, falling ill or enduring an injury), we’ll be right there with you to cover the costs and offer you all the support we can.

LV= travel insurance claims

Below are some genuine cases where we’ve been able to offer support to our customers during their darkest moments. It just shows that catastrophe can strike at any time so it’s always worth being prepared, particularly during the cost-of-living crisis where many of us don’t have the funds to pay these costs out of our own money.

Year

2013

What happened?

This person was holidaying in the USA, in a rush to catch a bus. They ran for it but then collapsed, suffering cardiac arrest. They were taken in an ambulance and rushed to hospital. After spending about 23 days in intensive care, they returned home with a DR escort.

How much did the customer pay for their annual insurance policy?

£282.80

How much did LV= pay out for the claim?

£111,409.85

 

Year

2014

What happened?

This person was catching a connecting flight home from the USA with his wife and two children. Their flight was cancelled, but fortunately this customer had bought travel insurance which covered their claims for new flights, delayed departure and additional expenses.

How much did the customer pay for their annual insurance policy?

£117.98

How much did LV= pay out for the claim?

£4,886.20

 

Year

2013

What happened?

This person was travelling through Canada. They found themselves struggling to breathe. They were hospitalised for 16 days and it turned out they had fluid on their lungs. Their journey was cut short and they were flown home by air ambulance.

How much did the customer pay for their annual insurance policy?

£1,241.89

How much did LV= pay out for the claim?

£72,083.80

 

Year

2015

What happened?

This person was travelling to Morocco with their partner. They had two bags lost on their outbound flight and were unable to both recover them and pursue a claim with the airline. Through their Premier policy, we were able to offer the customer a higher overall baggage limit and they were able to claim clothing and belongings back through their travel insurance.

How much did the customer pay for their annual insurance policy?

£150.70

How much did LV= pay out for the claim?

£5,983.61

 

Year

2015

What happened?

This person was backpacking through Spain. They suffered a stroke which caused them to be hospitalised for about 28 days. After almost a month in hospital, they were then flown home by air ambulance.

How much did the customer pay for their annual insurance policy?

£148.66

How much did LV= pay out for the claim?

£134,130.62

 

Year

2019

What happened?

A husband and wife were on a cruise around the USA. There was a COVID-19 outbreak on the ship and the couple were confined to their cabin for 13 days, thereby missing 10 port stops. Their travel insurance covered them missing ports, cabin confinement, as well as any other benefits up to their policy limit.

How much did the customer pay for their annual insurance policy?

£636.77

How much did LV= pay out for the claim?

£5,332.60

 

What travel insurance can we offer you?

Our Premier travel insurance is rated five stars by Defaqto and 9.1 out of 10 based on 5,209 customer reviews independently verified by Reevoo.

Whether you’ve just finished school and need travel insurance for your gap year or you’re a student wanting an adventure. Maybe you’re considering a family holiday or you’re over 50 and need insurance for your holibobs, we’ve got you covered.

You can choose between single-trip insurance, annual multi-trip insurance, and if you’re going skiing or you fancy a cruise, we’ve got cover for that, too! So, take out LV= travel insurance online today for 15% off - it’s plain sailing from there.

 

Our Essential travel insurance policy will cover you for the following:

For those wanting more cover with our Premier policy, you’ll get all the above, plus:

  • Cover for delays and cancellations after 24 hours
  • Up to £1,000 if you miss your pre-booked transport
  • An additional £5,000 cancellation cover (total £10,000)

 

You can get a quote right now and get 15% off for buying online!