Many UAE travellers don't buy travel insurance, despite risks

Souqalmal data shows that there are widespread concerns of cancellations, medical emergencies and lost or stolen baggage among UAE travellers
Many UAE travellers don't buy travel insurance, despite risks
By Bernd Debusmann Jr
Wed 05 Sep 2018 01:44 PM

More than half of UAE-based travellers have never bought a travel insurance plan before vacation, while 26 percent said they only purchase occasional cover, according to new survey data from Souqalmal.com.

According to the data, the relative lack of travel insurance purchases come in spite of widespread concerns that something may go wrong on their holiday. Among the common concerns were flight delays and cancellations (42 percent), medical emergencies (33 percent) and lost or stolen baggage (25 percent).

One in 10 UAE travellers had had a travel-related accident in the past, according to the data.

“Acquiring a travel insurance policy shouldn’t be looked at as optional,” Souqalmal founder and CEO Ambareen Musa said. “With travel insurance policies starting from as low as AED 20, it’s a small price to pay for getting covered against all kinds of travel risks and accidents, from poolside slips to stolen belongings and cancelled trips.”

Musa added that “adequate coverage can save you thousands of dirhams in financial consequences of travel mishaps.”

The survey also revealed that online channels are the preferred way to buy travel insurance, with 63 percent of respondents saying they purchased online. Nearly 30 percent said they were most likely to look for travel insurance on a comparison site.”

Souqalmal, for its part, has recently launched a travel insurance vertical which allows users to get instant quotes, compare premiums and benefits, pay security and have policies delivered within 20 minutes.

“Our customers buying car insurance have expressed a growing interest in buying additional insurance products online,” Musa added. “In fact, travel insurance emerged as the most sought-after product among our users. And we are super excited to now be able to offer it online.”

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