Click here for the hard truth about the current job marketAugust 31, 2015 8:50
UAE residents unaware of travel insurance
Top insurance broker says lack of awareness is 'worrying'.
July 18, 2013 2:12 by Muhammad Aldalou
Do you have a tendency to worry while travelling? Do you imagine unforeseen emergencies or accidents – or are your concerns more restricted to delayed flights and lost luggage?
Kipp is a worrier by nature – particularly when travelling abroad. Even then, like roughly 60 per cent of the UAE residents, we’ve never purchased travel insurance before. In fact, although we’re theoretically aware of the benefits of such products, we’ve never seriously considered purchasing them.
According to a recent research by Zurich Insurance Group, 58 per cent of those surveyed in the UAE have never purchased travel insurance, while 32 per cent only did so occasionally.
Highlighting what is described as a ‘worrying’ lack of awareness among the country’s residents, a top insurance broker says that even with the wide range of travel insurance products on the market, the uptake is limited and globetrotting residents are at risk.
“UAE residents have a worrying lack of awareness when it comes to seeking adequate protection for their travels, and that is a problem,” said Sandi Saksena, a financial advisor at Nexus Insurance Brokers.
Saksena says that travel insurance is absolutely essential and covers everything from minor inconveniences to major unforeseen accidents or emergencies.
According to Nexus Insurance Brokers, single trip insurance can cost as little as AED50 per person, with premiums rising depending on the length of stay, countries visited, age and inclusions, such as, sporting activities.
“You must take into account what types of risk could arise from your itinerary,” added Saksena.