The potential costs of embarking on a
gap year travel excursion without the proper travel insurance is "putting parents' homes at risk", it has been revealed.
According to gapyear.com, around one quarter of young people taking gap years are either underinsured or not insured at all.
The founder of the travel advice website, Tom Griffiths, said that he is "seriously concerned" about the number of travelers who leave themselves and their parents open to potentially large costs.
"The question is what would happen if a parent suddenly faced a bill of £50,000 right now," he explained.
"Someone will lose their home, or they'll have to remortgage and lose their life savings. The highest ever medical bill was about £1.2 million."
According to a recent Mintel report, around 230,000 18 to 24-year-olds go
backpacking or gap year traveling every year.
"The reality is that for most people it's about falling off a kerb, falling off a donkey or a camel; it's the little things that cost so much money," Mr Griffiths added.
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