£3.6 Billion in Uninsured Children’s Items at Risk This Half-Term

ESSEX, UK. October 25th, 2024 - It is anticipated that 3.8 million individuals will travel abroad this half term. But have you ever really considered the total value of the belongings you bring along with you when travelling as a family? 

The average value of items children travel with for a week abroad is estimated to be £3,911.79. But most standard travel insurance policies only cover items up to the value of £2,000. That leaves parents with a shortfall of £1,911.79 to pay out if items need to be replaced because they are lost, stolen or damaged.

 

If we assume that 1.9m of those travelling this half term are children, that leaves more than £3.6 billion worth of items flying up in the sky, potentially uninsured.

 

As half term approaches, Gigasure is urging travellers to check their policies carefully to make sure they are covered for everything they are travelling with. In the event of needing to make a claim, travellers may find that they don’t have cover to help replace the cost of the items they have lost.  

 

Gary Murphy, Head of Travel, Gigasure said: “Travel insurance tends to be something we buy to tick a box, but generally individuals don’t tend to pay too much attention to the detail. That is, until they need to make a claim. Should the worst happen, and your belongings become lost or stolen while travelling, the discrepancy between what the value of those items will cost to replace, and what the insurer will be able to pay out could be quite a difference. 

 

“As we go through life, the value of the items we travel with tends to go up. Even more so when travelling with children. If you look at the replacement costs for buggies, car seats and other paraphernalia they need, along with their toys and gadgets including games consoles and iPads, then the cost of the belongings we have with us rises exponentially.

 

“It is also important to remember that if the worst does happen to your belongings, most standard policies will take into consideration the age of your items. This means that if your pram, which you have had for the last year and a half, is lost whilst you are away, a deduction will be made based on its age, only giving you back a percentage of what you paid for it.

 

“Some travellers may wrongly assume that they already have insurance cover for their items under other policies, like their home insurance or as part of their bank account tech package. However, these policies will not always provide cover for your items when you are away from home.

 

“Including additional baggage and personal item cover to your travel insurance policy goes a long way towards covering the costs of replacing items that go missing. We encourage customers to check their policy wording and make sure the full value of their items are covered before they travel. Flexible travel policies will allow you to create a policy that’s right for you, and your family.”

 

 

1.        Use a safety deposit box in your hotel room for the more valuable items such as phones, computers, games consoles and iPads. Never leave them lying around in the room, or by the pool as you may not be covered by your insurance. Take more than one form of payment with you abroad (if you lose your phone you may need to use a card!).

 

2.        Keep valuable items on your person while travelling on an aeroplane. Items are far safer when they are with you, rather than going in the aeroplane hold where they may not be covered by your insurance. Only travel with the tech you need and buy a travel policy gadget extension where available.

 

3.        Where possible, consider travelling with a less expensive pram or buggy. Individual items are only usually covered up to the value of £500 or less. With the cost of the most popular buggy systems far exceeding this, along with any depreciation deduction, you may find you are unable to claim enough to replace this. 

 

4.        Of course, people are more important than possessions. Ensure you buy travel insurance that covers any pre-existing medical conditions as well as adequate care for the country you are in. In addition, ensure your children know what to do if they become separated from you.  

 

5.        Ensure your travel insurance policy is fit for purpose. Buy a level of cover that fits your needs, taking into account the value of the items you’re travelling with and if you are looking for replacement as new cover, consider extending your household policy to cover items outside of your home.