Travel insurance is designed to cover any losses you might incur whilst travelling in the UK or abroad, such as medical expenses in case of an accident, and errors on the part of the travel supplier.
Many people believe that their home insurance or credit card accident cover is the only peace of mind they need for travelling, and they will often later regret not taking out proper insurance cover.
An emergency abroad can cost thousands of pounds. If you, or a member of your family or group, requires an air ambulance, this might cost between £15,000 and £45,000. Without travel insurance cover, you will be held responsible for these costs.
What is covered by your Travel Insurance?
Temporary travel insurance will cover the trip’s duration and can be arranged when booking the trip. Multi trip travel insurance can cover unlimited travel within a certain time frame and this may specify an exact number of days for your travel.
The coverage cost of travel insurance varies, depending on the level of risk for your trip, such as a winter sports holiday like skiing or an activity such as scuba diving or jet skiing.
Generally, risks that are covered by your insurance include a medical emergency, trip cancellation, emergency evacuation, a trip interruption, accidental death or injury and lost or stolen baggage and personal belongings. It will also cover overseas funeral costs, delayed luggage, missed flight connections (if these are due to the airline schedule) and travel delays caused by the weather.
Your insurance should cover 24 hour emergency assistance and service, as well as personal liability cover to protect you from being sued against damage to property or causing an injury. Your passports should be covered against theft or loss.
Your travel insurance may protect you against your airline going bankrupt, either before or during your trip abroad, as well as giving you legal expenses cover.
Other travel policies can be purchased that will cover specific risks such as pre-existing medical conditions, and visiting high risk countries that are affected by war, terrorism or natural disasters. These risks will generally be excluded from the more common travel insurance policies. However, 60% of insurance policies will cover terrorism now.
Policies will generally not cover you for drug or drink related incidents.
You are expected to take good care of your possessions whilst travelling, otherwise your policy may not cover you against damage, loss or theft.
Buying Tips for Travel Insurance
Instead of choosing to travel with no cover, take the time to shop around online or on the high street to find the best price and the product that suits you.
There are a wide variety of travel insurance policies available at very competitive prices. These cheaper policies will not have as much cover, so make sure you understand what the cover is before you buy.
If you tend to travel extensively throughout the year, why not think about annual multi trip insurance? This could save you time and money.