British holidaymakers planning to jet off to Europe have been warned that their European Health Insurance Card is not a substitute for travel insurance.
In the present tough economic climate in the UK, many people are looking to cut corners to save costs and ease the squeeze on their finances.
And while not securing a travel insurance plan might seem like a good way of saving the pennies, it is a high-risk strategy which could leave travellers seriously out of pocket in the long run.
The card only accounts for treatment of certain injuries and illnesses and if, for example, an airlift home or a transfer to another hospital is required, those affected will not be covered.
This, of course, is in addition to the lack of cover it provides for the traditional risks of delayed or cancelled flights and stolen bags or possessions.
The trend is also apparently not restricted just to Britons, with a new survey suggesting that 37 per cent of Canadians do not take out insurance when they go to the US - a country with a notoriously expensive healthcare system.
David Redekop, principal research associate at the Conference Board of Canada, told Onlyfinance.com: "Travel insurance is a minor cost for most vacationers. At a time when travellers are paying more for fuel and other goods and services, the last thing they want to see is a large travel medical bill.
"Purchasing travel insurance when travelling to another province or country is one of the most prudent purchases a traveller can make."
