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Rachel Springall

Rachel Springall

Finance Expert & Press Officer
Published: 01/08/2022

Travel insurance policies require an average wait time of almost 12 hours before allowing its users to claim cancellation cover, according to data collected from Moneyfacts in May.

In some instances this can be as much as 24 hours before someone can claim, which can be less than ideal for an individual or family with no place to stay for free nearby while they await their next flight. Footing the bill for an overnight stay and food expenses may be beyond the average cover of £269, so it’s important consumers carefully consider their level of cover instead of the cheapest premium.

When it comes to delay cover specifics, 6% of standard travel insurance policies do not cover any form of travel delay cover. Meanwhile the average cover now stands at almost £270.

Baggage loss cover varies

Baggage loss can be a huge nightmare for holidaymakers. Approximately 97% of travel insurance plans include baggage cover, with the average cover at £2,030.

While most standard annual policies have this feature, the value of cover varies considerably. Some possessions could be irreplaceable, and a summer wardrobe could be expensive to replace, but for others their baggage for a short trip may not have enormous value. Having an appropriate level of cover for any loss is wise and because each person’s luggage varies, it’s not too surprising that the average cover for baggage loss has a massive range from £200 up to £10,000 and most plans require an excess to be paid.

Nearly all plans include some form of cancellation cover

Cancellation or curtailment cover is included in 99% of travel insurance policies, with the average cover priced at just over £4,000.

Some of the top insurance policies can provide up to £15,000 for this type of cover, while others paid at least £500.

Credit cards to the rescue?

Consumers would be wise to take a credit card with them for any trip, along with any travel insurance policy, just in case they must cover unexpected expenses. As a financial safety net, a credit card is wise, as it also offers consumers protection under Section 75 of the Consumer Credit Act. As with any trip, holidaymakers would be wise to check their cover and rights before they travel, particularly if they have booked their flights direct.


Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time. Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. will receive a small payment if you use their services after you click through to their site. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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