Insurance companies in Mallorca and the rest of the world are in for a big pay day as tourists snap up policies that offer maximum cover when they're on holiday in the wake of the coronavirus pandemic.
British tourists are prepared to shell out an extra £1,478 on holiday insurance to ensure peace of mind when they’re on holiday abroad, according to a survey by AllClear Travel Insurance.
It found that 76% of Brits will take out extra holiday insurance and 50% will consider the Covid-19 situation and the possibility of a lockdown when choosing where to go.
"What our research finds, time and again, is that people in the UK are taking their safety more and more seriously, they are prepared to spend more on ensuring this than ever before, are conscious of the potential risks and are taking the right action in advance to minimise those risks,” AllClear Travel Insurance CEO, Chris Rolland told the Mirror newspaper. "With more and more insurers including Covid-19 policies in their packages, now is the best time to protect yourself on holiday with annual cover that you can trust. Most policies are now well equipped with cancellation clauses that are there to take the stress out of the decision for customers.”
On average, those surveyed said they would be prepared to spend an extra 25% on insurance cover to protect themselves when they go overseas this year.