Holidaymakers are being advised to check they are sufficiently covered by their travel insurance policy.
Global health concerns earlier this year saw a surge in people taking out travel insurance policies. However, many holidaymakers are purchasing insurance which is not suited to them, and is in some cases “worthless”.
Basic Cover
According to latest research, many travellers are not covered for even the most basic of issues, with almost a third of single-trip policies failing to cover missed connections in the UK. Fourteen percent of policies also fail to cover missed flights. What’s more, around 50% only pay out on lost or stolen valuables up to the value of £250. With more and more travellers carrying expensive equipment such as smartphones, tablets and jewellery, £250 is a relatively small amount to be able to claim back.
Making Travel Insurance a Priority
Many people fall into the trap of buying insufficient travel insurance policies as often it is not considered a high priority. Many people leave travel insurance until the last minute and take the first, or cheapest, option available. Cheap travel insurance does exist, but it is important to read through the policy to check you are fully covered. You should also check the amount of excess you need to pay on common travel issues like lost property, theft or cancelled flights. If you lose £300 worth of property while travelling, but the excess is £250, you may not be getting the cover you intended when purchasing insurance.
What to Look For
There are key policy points you should look out for when taking out travel insurance. Ensure that your policy covers you for the following for an appropriate amount and be sure to check the excess costs to you should you need to claim…
Medical and repatriation cover
Medical assistance, medicine and doctors trips can be extremely expensive when abroad and it is not that uncommon to fall ill when on holiday. It is wise to take out a policy that has sufficient cover for you and anyone else travelling with you. This is especially relevant on trips like skiing or hiking trips. Repatriation is the process of returning your body in the event of your death. This is not a nice thing to think about before you go on holiday, but it could cost your family tens of thousands of pounds to bring you home.
Cancellation and curtailment
Claiming compensation directly from airlines or travel companies for cancelled flights or trips can be a long and difficult process. Ensuring you are covered on your insurance policy can make things much simpler.
Travel delay
Delays are common, and unless specified, travel companies are not necessarily obliged to reimburse you. You could miss out on hours or even days of a trip, so covering yourself for delays is advisable.
Property loss and money cover
As mentioned, check you are covered for the full value of any belongings you are taking with you on your trip, and be sure to choose a policy with a reasonable excess charge.
There are different policy points to look for depending on the type of holiday you are taking and the length of time you will be travelling for. If you would like help choosing the right travel insurance policy, please get in touch. You can read more about our travel insurance service here.
