Why I never bother with travel insurance

davidlizard

Pollycat wrote: »

:rotfl::rotfl::rotfl::rotfl:

I doubt that Martin would agree with that statement.

Do come back to us and tell us how far your '20 big ones in your butt pocket' goes when something goes wrong with your 200 year old house or on one of your exotic holidays.

In all likelihood, the OP will almost certainly never have anything go wrong with his/her 200 year old house or exotic holiday, never have to make an insurance claim, and therefore always be quids in. However it is impossible to prove a negative.

If the OP took 50,000 holidays, then the chances are that he/she will require medical attention incurring considerable expense on at least one of them. If it occurred after 40,000 holidays had been taken, the costs would be covered by the savings from not taking out travel insurance. However if it happened within the first 1000 holidays, then one would out of pocket. And seeing someone (with the exception of my parents blowing my inheritance) is unlikely to take 1000 holidays in a lifetime, the "break even" point (£20,000 medical expense/£20 insurance policy = 1000 holidays) will never be reached.

It really is a big gamble - you have the probability of an event occurring as very low, but the impact of the event would be extremely high, but the costs to mitigate against this event would be relatively small. Anybody involved in risk management would see this as a no brainer and I doubt would ever expose their company to risks of that profile.

A separate issue - where travel insurance is also essential is that of personal liability and legal cover. Some places abroad have some very peculiar legal systems, where people can be held without trial for some time, and then are guilty until they can prove themselves innocent. Decent legal assistance, which can cost thousands to contest claims, which could be for millions is equally essential. Again, you only need to be in the wrong place at the wrong time.

Pollycat

Nobjocki wrote: »

I have enough money to cover every single eventuality which might occur on my foreign travels.
I also have a Platinum Amex card which offers excellent travel insurance.

davidlizard wrote: »

It really is a big gamble - you have the probability of an event occurring as very low, but the impact of the event would be extremely high, but the costs to mitigate against this event would be relatively small. Anybody involved in risk management would see this as a no brainer and I doubt would ever expose their company to risks of that profile.

I think this thread would have taken a different turn if Nobjocki had been up front about his alleged massive fortune that he says will enable him to fund problems such as those described by shirlgirl, piccybabes, Madmel and june.elizabeth below if they happen to him (which of course they won't because he's 'careful' :cool:).

Nobjocki's first post on this thread below - anyone see any mention of 'I don't buy insurance because I have enough money to cover any single eventuality which migh occur on my foreign travels'?
No, me neither.

Nobjocki wrote: »

Travel insurance is very much like car breakdown insurance - I've never had either and have yet to breakdown or need flying back from a holiday.

I accept there are occasions when this happens but, statistically, the number of people taking out holiday insurance every year versus those who actually claim on it must make it a comparative waste of money.

He goes on and on about how statistics are in his favour but admits he's in the position that he can afford to pay any hospital bill or builder's bill without a second thought.

Not many people are in that position and anyone reading Nobjocki's 'reasoning' should bear that in mind when considering not buying insurance when booking a holiday.

The statistics were certainly not on the side of the people mentioned below, even if they continue to shine brightly on Nobjocki.

shirlgirl2004 wrote: »

We had to pay £12,000 when our brother, in his 30s, suffered a ruptured brain aneurysm. There was no warning, he went on holiday an apparently normal healthy person and came back by air ambulance. His treatment was covered by the EHIC system but if we hadn't had the money he would have had to stay out there. We were lucky he had only gone to Spain.

piccybabes wrote: »

Dad had a heart attack, hospitalised in private hospital for 3 weeks then medivac'd out on hospital plane to Cardiff.

A couple of points;

1. The £18,000 hotel bill would have crippled the family financially if they had not had insurance. Heaven only knows what the plane cost.

Madmel wrote: »

3 years ago in the SW USA, my husband's appendix ruptured. A day of generally feeling unwell then stomach pains meant that we went to a local hospital in Arizona. They diagnosed him, but didn't have the facilities to treat him so he travelled 240 miles by air ambulance to Tucson where he was operated on. He spent 5 days on life support, a week in ICU, a further week on a ward and ended up with 4 operations. He had to fly back business-class so he could lie flat to rest.

Thank goodness we had bought adequate travel insurance. It covered EVERYTHING! And I only paid £50 for it!!! The helicopter trip alone was $38,000 USD, the ICU bed was $2500 USD per day and I never found out the costs of the surgeons, anaesthetics teams or drugs. I do know it ran to 6 figures

june.elizabeth wrote: »

Arrived home from USA on Wednesday. Husband tripped and fractured his ankle in three places, luckily at the end of our vacation, within 3 hours of being informed our insurance company had arranged transport to airport, flight with extra seats to keep leg elevated for first flight. Second flight, Business class seats back to UK, Transport Home, wheelchair assistance at each airport. On top of all this the hospital bills which will be high. Probably total cost in the region of £20,00.00. Insurance cost £200.00.

Soubrette

davidlizard wrote: »

I typically expect to pay around £15-£30 for suitable travel insurance.

The insurance costs me less than 1% of the entire holiday costs. This is right down in the noise of overall holiday expenses. For the vast majority, travel insurance does not need to be any more than a couple of percent of the cost of the holiday. Its not as if we are taking a major expense.

The reason that the insurance costs less than 1% of the entire holiday costs is that your insurer expects to pay out even less than that 'less than 1%' of the total insurance monies it receives, it expects to cover claims, overheads and make a profit from your less than 1%, that's how low it thinks the chance of payout would be. Most people lose money on their insurance, that is the nature of insurance and if it were any different the insurance companies could not afford to offer their services.

If you're a multi-billionaire who can more than cover the cost of any claim yourself then you'd be an idiot not to self insure imo

People who don't take insurance and hope they are not unlucky as they can't afford the liability are very different to people who don't take insurance and know they can afford the liability if they incur one.

Nobjocki

Pollycat wrote: »

I think this thread would have taken a different turn if Nobjocki had been up front about his alleged massive fortune that he says will enable him to fund problems such as those described by shirlgirl, piccybabes, Madmel and june.elizabeth below if they happen to him (which of course they won't because he's 'careful' :cool:).

Nobjocki's first post on this thread below - anyone see any mention of 'I don't buy insurance because I have enough money to cover any single eventuality which migh occur on my foreign travels'?
No, me neither.


He goes on and on about how statistics are in his favour but admits he's in the position that he can afford to pay any hospital bill or builder's bill without a second thought.

Not many people are in that position and anyone reading Nobjocki's 'reasoning' should bear that in mind when considering not buying insurance when booking a holiday.

The statistics were certainly not on the side of the people mentioned below, even if they continue to shine brightly on Nobjocki.

You are being selective in your use of my quotes - I have made it quite clear that I have never had travel insurance over many years of travel and it is mere coincidence that I now have a card which provides it.

I have also said on a number of occasions that if people require peace of mind they should go ahead and purchase travel insurance.

However anyone who doesn't should not let this spoil their holiday - statistics show that the chances of them needing it are virtually non-existent.

Insurance is one of the biggest cons of the modern world - there are far more people whose claims have been rejected on spurious grounds by insurance companies wheedling out of their obligations than those who actually benefit from it.

Life is a gamble and in this argument the odds are stacked very much in my favour.

What is amusing is the tone of desperation in those posters who think otherwise.

Relax.Chill.Don't worry.The sky is not going to fall in on you.

pink_princess

You take a child abroad with no insurance ? :eek: My kids are always injuring themselves,this hasn t happened abroad yet ,but Im not taking that risk.

Pollycat

pink_princess wrote: »

You take a child abroad with no insurance ? :eek: My kids are always injuring themselves,this hasn t happened abroad yet ,but Im not taking that risk.

Ah, but Nobjocki is always so careful and his children

Nobjocki wrote: »

have the intelligence, wits and experience to survive in very difficult environments.

So they'd never have accidents, either. :cool:

Pollycat

Nobjocki wrote: »

You are being selective in your use of my quotes - I have made it quite clear that I have never had travel insurance over many years of travel and it is mere coincidence that I now have a card which provides it.

But you said in an earlier post that you "have enough money to cover every single eventuality which might occur on my foreign travels.


I have also said on a number of occasions that if people require peace of mind they should go ahead and purchase travel insurance.

Yeah right. Whilst labelling those people who do take out insurance as obedient sheep, gullible, lacking in common sense and lemming-like.

However anyone who doesn't should not let this spoil their holiday - statistics show that the chances of them needing it are virtually non-existent.
Oh sure. Statistics again.

Insurance is one of the biggest cons of the modern world - there are far more people whose claims have been rejected on spurious grounds by insurance companies wheedling out of their obligations than those who actually benefit from it.
OK, do you actually have proof that this statement is true?
I'd love to see it.

Life is a gamble and in this argument the odds are stacked very much in my favour.
I agree life IS a gamble - and the odds are just that - odds.
How many odds-on favourites actually end up losing?
It may not happen in the majority of cases but it does happen.

What is amusing is the tone of desperation in those posters who think otherwise.
No desperation in my tone.
Your reasoning in your posts has failed to convince me not to buy travel insurance.
And has even given ME some amusement at how superior you consider yourself.

Relax.Chill.Don't worry.The sky is not going to fall in on you.
You've been reading Chicken Licken too much.

To ensure that I've not been selective in my use of your quotes, I've inserted my comments within the text of your post.

Greenlight77

Nobjocki wrote: »

.
A two week holiday on the Coast Brava carries no more risk than two weeks in Blackpool.
You really do have more chance of winning the lottery than coming a cropper on your sunbed.

I agree that a lot of insurance is a con and you're right that a two week holiday in Spain is probably no more risky than 2 weeks in the UK. What is different though is that whereas in the UK all your medical costs would be covered on the NHS, in Spain and many other European countries even if you have an EHIC card you may find youself or your family having to fork out a substantial sum of money if you become seriously ill or die and don't have insurance. The NHS service in Spain isn't as comprehensive as in the UK and in some areas private medical care is the only option available. Ambulances are often private as well and if you have to be transported by air ambulance the costs are (literally) sky high.

I'd be interested to know the actual statistics but I'm sure that the number of people needing urgent hospital care on a holiday is far far higher pa than those who win the lottery. My dad was unfortunately one such statistic and died suddenly whilst on holiday in Spain a few years ago, despite having no previous medical issues. I remember the holdiay company saying that he was one of several people with them who had died that month in Spain. The experience was horrendous enough as it was but without medical insurance which paid for all the costs (wthout any quibbles) it would have been even worse.

If you're wealthy enough to be able to fund any such costs yourself without taking out insurance cover then fine but don't pretend that it's never going to happen as just occasionally it sometimes does.

Nobjocki

Pollycat wrote: »

To ensure that I've not been selective in my use of your quotes, I've inserted my comments within the text of your post.

Your tone of desperation has now turned to shrill - and it's no coincidence this happened when I mentioned I was wealthy.
Why are you so clearly unnerved by someone who chooses not to
follow convention or is it just envy ?
I think you need a holiday somewhere nice and safe.

Pollycat

Nobjocki wrote: »

Your tone of desperation has now turned to shrill - and it's no coincidence this happened when I mentioned I was wealthy.
Why are you so clearly unnerved by someone who chooses not to
follow convention or is it just envy ?
I think you need a holiday somewhere nice and safe.

WOW!
You can tell between 'desperation' and 'shrill' just by reading the words! :rotfl:
Aren't you the clever one?

What part of

No desperation in my tone.

are you having difficulty in understanding?
I personally don't feel the necessity to comment on my financial situation but as you obviously feel the need to keep mentioning your wealth, maybe you should seek help for your obvious insecurities.

I'm not unnerved by someone who doesn't choose to buy travel insurance.
Why would I be unnerved?

You choose not to buy because you can fund every single eventuality which might occur on your foreign travels.
Not everybody can - but you are still extolling the idea that buying travel insurance is a con.

Thanks for your concern, I have a holiday booked to Goa next month - and I have both travel insurance and buildings/contents insurance - because unlike you I don't rely on statistics. :cool:

And, as you are so fond of statisitcs, why not count the number of posters who agree with your viewpoint and the number who disagree?

Oh, there'll be Yoghurt....
and Yoghurt....