"Providers that adapt to evolving travel trends and coverage needs can capitalise on new opportunities for growth and improved margins."
Sarah Hitchcock - Associate Consultant, Financial Services
The UK travel insurance market has recovered post-pandemic, with growing premiums from 2019 to 2024, reaching around £980m, driven by hardening premium rates, particularly for annual multi-trip policies. Forecasts predict nearly 15% growth in the foreseeable future, fuelled by rising demand for customised coverage and technological advancements, though growth may be moderated by economic and geopolitical factors.
Consumers show strong interest in flexible and customised coverage in the UK Travel Insurance Market. While single-trip policies now dominate market share, annual multi-trip policies remain popular among frequent travellers and higher-income households.
Younger travellers, especially under-35s, often skip insurance for some trips due to perceived irrelevance, lack of awareness, and greater risk tolerance rather than cost alone, presenting an opportunity for insurers to target this group with digital platforms and loyalty programmes.
Among UK adults planning overseas trips, more than half the consumers are purchasing insurance for upcoming trips, but a significant portion of these bookings delay buying until closer to the travel date.
Insurers can capitalise on this trend by offering timely reminders and engaging consumers through targeted advertising to encourage early purchase, further influencing Travel Insurance Market Trends.
UK travel insurance market in 2024 is reaching around £980 mn.
Growth in the UK Travel Insurance Market Size is driven by rising demand for customized coverage, technological advancements, and increasing international tourism
The leading segment in the UK travel insurance market is multi-trip annual policies
The leading players in the UK travel insurance market include Allianz, Aviva, AXA, Collinson Group, Great Lakes Insurance (part of Munich RE), and Zurich
The UK Travel Insurance Market Report provides comprehensive insights into the travel insurance market, including current market dynamics, consumer behaviours, competitive strategies, and future growth projections. It covers areas such as travel insurance uptake trends, policy preferences, claims experience, and the impact of economic and geopolitical factors on travel insurance demand. The research surveys key consumer groups, including frequent travellers, younger demographics, and high-income households, as well as examines the role of technology and digital platforms in shaping the industry. This Travel Insurance Market Report will be valuable for insurance providers, travel companies, marketers, and financial services professionals looking to understand evolving trends and capitalise on opportunities in the UK travel insurance market.
| Report Attributes | Details |
|---|---|
| Published Date | August 2025 |
| Data Range | 2019 – 2030 |
| Measurement Metrics | Revenue in £ |
| Country Focus | United Kingdom (UK) |
| Consumer Data | 1,955 internet users aged 18+, May 2025 |
| Number of Pages | 67 |
| Market Segmentation | Single-trip Insurance, Annual Multi-trip Policies, Long-term/Backpacker Insurance, Cruise Cover, Extended Stay Cover, Gadget Cover, Car Hire Excess Cover, Winter Sports/High-risk Activities Cover, Wedding Cover |
| Leading Companies | Allianz, Aviva, AXA, Collinson Group, Great Lakes Insurance (part of Munich RE), Zurich, Gigasure, Urban Jungle |
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