Finder compared the cost of a hospital bed against quotes for a basic travel insurance policy for a 30 -year -old traveler on a week -long trip between July 2 and 9, at 10 popular travel destinations.
Finder retrieved data from the World Health Organization (WHO), Covermore and Airbnb.
Research has found that on average, hospital beds cost travelers 44 times more than buying a travel insurance policy – that the cost in some countries is much higher than the average. ito.
This is most pronounced in the UK, where the average cost of a hospital bed per night (US $ 1,125) is 125 times the daily value of a basic insurance policy ($ 9). Similarly in Singapore, the average cost of a hospital bed per night ($ 1,168) is 97 times the daily cost of a basic insurance policy ($ 12).
Other violating countries include Japan, New Zealand and the US, where the cost difference between hospital beds and travel insurance is 75, 81 and 45 times greater, respectively.
At the other end of the scale, the cost of a hospital bed in India ($ 17) is very similar to the cost of travel insurance ($ 12) – however, even there travelers can save considerably by purchasing a basic policy. travel insurance.
The figures highlight the potential benefits to the cost of buying travel insurance
The research also compared the two numbers to the price of say on an Airbnb rental in the capital city of each country (except the US, where New York City was used instead). Finder found that in six of the 10 destinations surveyed, travelers had to pay more for a hospital bed than an Airbnb.
This is most striking in Singapore, where the daily cost of a hospital bed ($ 1,168) is 13 times higher than the city’s average Airbnb rental per night ($ 90).
According to Graham Cooke, Head of Consumer Research at Finder, the numbers show that skipping travel insurance when planning a trip abroad can have a serious negative financial impact if something goes wrong.
“Overseas health care costs will cost you an arm and a leg, which is the last thing you want to worry about if something goes wrong,” he said. “A basic insurance policy on the other hand is between $ 10 and $ 20 per day, and you can reduce this cost by increasing your excess if you want. It’s always a good idea to take out insurance once you have. “book your trip. That way, if something happens – for example, if Covid catches you – you’ll be covered.”
He warned that if travelers attempted to take out a policy after an incident occurred, their claim would be denied.