As a nation, we love holidaying. The Office for National Statistics records that Britons took a whopping 86.2 million trips abroad last year[1]. However, the economic backdrop in the UK and beyond is making holiday spending a challenge. Britons are spending 25% more on holidays than in 2019[2], and hotels are 17% more expensive than two years ago[3]
Many people are making more considered choices when it comes to booking holidays, such as travelling out of season or taking fewer trips abroad, which you may be doing too. The proportion of your disposable income spent on a trip may be much higher now than previously, so the impact of that spend on your finances is significant.
But what if you need to cancel the trip? Without travel insurance, abruptly cancelling your holiday, perhaps because of illness or injury, could leave you considerably out of pocket. What you spent on flights, accommodation and car hire may not be recoverable, which might mean the loss of a few thousand pounds or more. In this economy, that doesn’t bear thinking about.
What you may not know is that if you have a travel insurance policy secured before you book, your holiday may be covered if you need to cancel it at short notice, for example due to illness or injury4. In these circumstances, you won’t lose the money you spent, which means you can rebook for a later date and enjoy the holiday you saved up for.
When preparing for a trip abroad you should also bear in mind the rising cost of healthcare. Recent data shows that medical care across the globe continues to rise above inflation in many countries. For example, there’s been a 10% rise in global healthcare costs in 20245
If you require medical treatment while on holiday, this could cost you a great deal of money which you may not have. For example, should you be unfortunate enough to get a stomach bug while on holiday in the USA and require medical evacuation or repatriation, the cost may be as high as £150,0006. Even with a Global Health Insurance Card, some types of care may require payment, such as private treatment or repatriation back to the UK, which could be very costly.
Fortunately, Chubb’s 24/7 emergency helpline can protect you from potentially extortionate medical bills. With our help, you can avoid paying for any medical care yourself as, in many cases, we can pay hospitals directly. If you require medical attention while on holiday, we’re there to help you get better and bring you home.
As the rising cost of living puts pressure on your budgets and increases the price of holidays and medical treatment, travelling while uninsured means that you risk losing money. With an annual travel insurance policy, you’re protected year-round for the trips you book7 and, if things don’t go according to plan, Chubb will be there to support you
1 Office of National Statistics, Travel Trends: 2025
2 Compared with 2019. Office of National Statistics, Travel Trends: 2023
3 In 2024 compared with 2022. HSMAI Europe data.
4 Full details of the exclusions, limitations and excess of the policy can be found in the policy wording.
5 Willis Towers Watson: 2024 Global Health Trends
6 Guidelines: Foreign Travel Insurance, UK Government website
7 Annual policy coverage includes 180 days of travel with trip durations limited to 31 days.
8 Offer available only by scanning the QR code or visiting chubb.com/your-health-20. Price shown is 20% off the standard online retail price you would receive if you went direct to uk.chubbtravelinsurance.com
All content in this material is for general information purposes only. It does not constitute personal advice or a recommendation to any individual or business of any product or service. Please refer to the policy documentation issued for full terms and conditions of coverage.
Chubb European Group SE (CEG). Operating in the UK through a branch based at 100 Leadenhall Street, London EC3A 3BP. Risks falling within the European Economic Area are underwritten by CEG which is governed by the provisions of the French insurance code. Registered company number: 450 327 374 RCS Nanterre. Registered office: La Tour Carpe Diem, 31 Place des Corolles, Esplanade Nord, 92400 Courbevoie, France. Fully paid share capital of €896,176,662.