UK Travel Insurance Market Analysis
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.
UK Travel Insurance Market Trends
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.
Frequently Asked Questions about the UK Travel Insurance Market
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UK travel insurance market in 2024 is reaching around £980 mn.
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Growth in the UK Travel Insurance Market Size is driven by rising demand for customized coverage, technological advancements, and increasing international tourism
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The leading segment in the UK travel insurance market is multi-trip annual policies
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The leading players in the UK travel insurance market include Allianz, Aviva, AXA, Collinson Group, Great Lakes Insurance (part of Munich RE), and Zurich
About Report
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.
Key Topics Analyzed in the Report
- Current size and five-year forecast of the UK travel insurance market, by gross written premium (GWP).
- Main market players, competitive strategies and product innovation.
- Recent travel trends and key issues affecting the overseas travel market.
- Take-up rates among UK adults who have travelled abroad within the past three years, and recent claims experience.
- Intentions to travel abroad within the next 12 months, by purpose, number of trips and type of insurance.
- Attitudes towards buying travel insurance, including consumers’ use of price comparison sites and mobile apps, buying from unfamiliar brands, and concerns around answering health questions.
| 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, and Wedding Cover. |
| Leading Companies | Allianz, Aviva, AXA, Collinson Group, Great Lakes Insurance (part of Munich RE), Zurich, Gigasure, and Urban Jungle |
Meet the Expert Behind the Analysis
This report was written by Sarah Hitchcock. Sarah has worked for Mintel since 2001, initially as a member of the UK Financial Services team before turning freelance and taking up the role of an associate consultant. As a finance specialist, she works across the full range of UK banking, insurance, investment and pension report titles.
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
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EXECUTIVE SUMMARY
- Opportunities for the travel insurance market
- Increase roll out of full-service travel apps to help customers maintain coverage
- Great potential to upsell cover
- Insurers must adapt to an evolving travel landscape
- Market dynamics and outlook
- Market size & forecast
- Market predictions
- Travel insurance market set for further growth
- What consumers want and why
- Scope to improve inconsistent take-up among some travellers
- Demand for travel insurance is set to increase, as more people take flight
- Many adults who’ve booked an overseas trip have yet to get cover
- Graph 1: travel insurance provision for upcoming trip(s), by whether or not consumers have booked any part of the trip(s) they plan to take, 2025
- Opportunities exist to upsell cover
- Most insured travellers are in favour of travel assistance apps
- Competitive environment
- Providers come and go
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MARKET DYNAMICS
- Market size
- Travel premium income growth slows after strong recovery
- Graph 2: travel insurance GWP, reported by ABI members and estimated for non-members, 2019-24
- Market value grows despite dip in volume sales
- Market forecast
- The market is predicted to grow steadily over the next five years
- Opportunities for customisable cover will help to drive future growth
- Market segmentation
- Sales of annual multi-trip policies fell in 2024, but their value increased
- Shifting travel habits sees growth in single trip policies
- Claims costs incurred
- Claims cost pressures have eased over the past two years
- Graph 3: travel insurance claims ratio*, 2019-24
- Rising medical inflation fuels growth in claims costs
- Graph 4: proportional distribution of the value of travel insurance claims incurred, by type, 2024
- Age affects claim frequency and costs incurred
- Graph 5: average claim value and claim frequency, by age, 2024
- Market drivers
- Reduced participation in overseas travel in the year to May 2025 compared to 2019
- Graph 6: when last took a trip abroad for any reason, 2019 versus 2025
- Overseas travel was decimated during the pandemic, but has since recovered
- Graph 7: number of overseas visits by UK residents, by purpose of visit, 2015-24
- Holidays represent over three fifths of all visits abroad
- Holiday firms can leverage their cross-sell advantage to sell more specialist cover
- Business travel strengthens in 2024
- Geopolitical landscape and economic uncertainty affect travel choices
- Spain remains the number one destination for UK holidaymakers
- Graph 8: number to visits taken by UK* residents to the top 12 most popular countries, 2019, 2023-24
- Travel insurers must respond to shifting travel preferences
- Rising cost of travel could prompt more people to seek savings on insurance
- Above-target inflation puts more pressure on household budgets
- Graph 9: CPI inflation rate, 2021-25
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WHAT CONSUMERS WANT AND WHY
- Insurance coverage for past overseas trips
- Only around two thirds of travellers have insurance cover on every trip they take
- Graph 10: travel insurance purchase activity, 2025
- One in six overseas travellers cannot be relied upon to always have cover
- Many younger adults risk going abroad uninsured
- Technology and rewards can help boost take-up
- Purpose of travel affects take-up of insurance
- Claims experience
- Having a travel claim disputed is fairly common
- Graph 11: travel insurance claims experience in the past three years, 2025
- Too much focus on price can lead to poor purchase decisions
- Travel plans for the year ahead
- More intend to travel abroad in the next 12 months than did in the past year
- Graph 12: intentions to travel abroad in the next 12 months and reason for trip, 2025
- Strong appetite for overseas travel
- Purpose of visit varies according to age
- Even some of the wealthiest choose to travel without cover
- Many of those expecting to travel abroad are planning multiple trips
- Graph 13: number of overseas trips planned in the next 12 months, 2025
- More than half of prospective travellers have already booked
- Graph 14: whether or not consumers have booked any part of the trip(s) they plan to take in the next 12 months, 2025
- Insurance provision for next trip
- A small minority intend to travel abroad without insurance
- Graph 15: travel insurance provision for upcoming trip(s), by whether or not consumers have booked any part of the trip(s) they plan to take, 2025
- Many need a nudge to get cover as soon as they book a trip
- Interest in annual policies and specialist cover types
- Around half of insured travellers expect to use an annual policy
- Graph 16: type of travel insurance policy bought/intending to buy for trip(s) in the next 12 months, by number of trips planned, 2025
- Annual policies are more likely to held by wealthier travellers
- Long-term insurance tends to be the preserve of the young
- Those going on longer trips are more likely to need extra cover
- Graph 17: specialist cover types or add-ons bought or expecting to buy for trip(s) in the next 12 months, by policy type, 2025
- Cruise insurance set for growth
- Buying behaviours and attitudes
- Brand loyalty is a huge advantage in this market
- Graph 18: attitudes towards buying travel insurance, 2025
- Many stick with what they know despite being open to the unfamiliar
- Two in five policyholders are potentially at risk of voiding their cover
- Younger adults are more likely to find health questions difficult to answer
- Most travel insurance buyers like the convenience of using an app
- Graph 19: agreement with statements about buying travel insurance via aggregators and interest in travel apps, 2025
- Travel assistance apps are popular with consumers
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INNOVATION AND MARKETING TRENDS
- Key players and competitive strategies
- A fragmented market, with numerous brands competing for share
- The market has undergone significant structural change in recent years
- New brands emerge to capitalise on the growing need forcover
- Spotlight on four underwriters: key partnerships
- Launch activity and innovation
- Urban Jungle expands its range with the roll-out of travel insurance
- Gigasure launches customisable cover
- OneBefore launches new European travel insurance product
- Ryanair launches new membership subscription with free travel insurance
- Advertising and marketing activity
- Travel insurers increase adspend
- Graph 20: above-the-line, online display, social and direct mail advertising expenditure on travel insurance and related categories, 2020-24
- Specialist brands invest heavily in advertising
- TV accounts for the largest proportion of adspend
- Graph 21: travel insurance above-the-line, online display, social and direct mail advertising expenditure, by media type, 2023-24
- Examples of recent TV ads
- Staysure puts the ‘sure’ in ‘insurance’
- Allclear promotes its annual cover for all
- Goodtogoinsurance tells consumers ‘you’re good to go’
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APPENDIX
- Market forecast data and methodology
- Market size: underlying data
- Market size and forecast: at current and constant prices
- Market forecast and prediction intervals
- Forecast methodology
- Market size sourcing information
- Supplementary data
- Summary of claims incurred
- Adspend by category
- Adspend by media type
- Adspend by advertiser
- Nielsen Ad Intel coverage
- Report scope and definitions
- Market and sub-sector definitions
- Abbreviations and terms
- Consumer research methodology
- Other sources
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