The key to making the best decision is to know what coverage you already have and be sure that your travel insurance policy fills any coverage gaps before you get it!
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Have you already planned your next holiday? Hopefully you didn’t forget take out travel insurance!
It’s one of the most important things to think about when going away. It doesn’t matter if you decide to stay in your country, go on a backpacking tour, camping, or fly abroad there are many different travel insurance plans on the market to suit your needs. It doesn’t matter if it takes a little time to find one, you will find the perfect solution to your needs. It is very important that you take your time as it can save you a lot of money. For a lot of people having travel insurance creates a great peace of mind.
There are many different policies available, but most of them will cover travel delays, cancellations, missed departures, lost or stolen items, medical treatments or legal expenses. If you think you need additional safety for something, you have to search for companies that provide special options like winter sports cover or terrorist incident cover. Some companies provide special offers for backpackers, people taking part in adventurous activities and the over 65’s.
To secure a great holiday insurance deals shop around. Comparison sites will help you to make a decision. Check the fees and conditions, apply online for your travel insurance and enjoy your carefree holiday!
What Is Insurance?
Insurance is based on risk. Insurance is essentially taken out to protect people against risks like theft, damage, loss, accidents or illness. You pay against something happening to yourself or your property. Insurance companies calculate the likelihood of a theft or accident happening and use this to decide on how much to charge you for the policy. The price that you pay is called the premium and insurance premiums are calculated on the basis of risk. The higher the risk and financial cost of the loss, the higher the premium you will be asked to pay. Essentially, the more likely a person is to make a claim and the larger their claim, the higher their premium will be.
What do I need to know when buying Insurance?
Insurance products can be brought in many ways. You can buy insurance directly from an insurance company, usually over the phone or online. You can also buy insurance from a high street retailer including some supermarkets and banks. You can even purchase insurance alongside another product, for example travel insurance from a travel agent. A great way to buy insurance is through comparison because you can easily compare different products against each other and find the policy most suited to you. Some customers have particular needs or characteristics which may require specialist attention from insurers for example individuals with complex medical histories. Please remember that insurers may choose not to offer cover at all. If you are unable to find cover on a comparison website try contacting insurers directly for more information.
All you need to know about Travel Insurance
Holidays can take a lot of time and energy to plan, not to mention money. Also with the cost of air travel and hotels on the up, a holiday can be a major purchase and it is important to protect your investment which you can do with travel insurance. Failing to take out travel insurance can turn a holiday into a costly financial nightmare. Most people when going overseas will have a trouble free trip. However, sometimes the unexpected can happen and things can go wrong. But having a comprehensive travel insurance policy can be a great help if you have to deal with any number of problems while you are abroad. Travel insurance policies often provide a 24 hour assistance help line that can provide you with help and support at any time. Furthermore they have staff trained to deal with hospitals and doctors abroad in the local language. You can buy travel insurance for a single trip or an annual policy for all trips taken in a year.
Different travel insurance policies cover different things and the risks that are covered will vary from policy to policy. Before signing anything, make sure you know exactly what is covered but more importantly what things you are not covered for. To help you make the right decision you should think about if certain instances were to happen and you didn’t have the insurance to cover them, what would you do? In short, you need to decide what is important to you and make sure that the policy you are considering provides the right level of cover for your circumstances. This will help you avoid any unexpected surprises if you are unfortunate enough to make a claim. With this is mind price isn’t everything. Although trying to find cheap travel insurance is what most people look for the cheapest insurance is not necessarily the best. This is because the policy is probably cheap because it offers the least amount of cover.
There are a huge range of policies available so it is worth taking the time to find the best cover and value for money to suit your needs. Travel insurance can be bought from insurers, insurance brokers, the post office, banks and supermarkets. Buying travel insurance through a tour operated or travel agent is typically much higher than what is available elsewhere. Do not be fooled by holiday operators who insist that you take out their own insurance. Some aspects that are likely to affect the price of your insurance include, existing medical conditions, pregnancy, whether you have a history of claims, are over 65 and are taking part in adventurous activities
European Health Insurance
As a UK resident you are entitled to free, or reduced, state produced healthcare when visiting a European Union country. This can be used to cover any necessary medical treatment due to either an accident or illness during your trip. To be covered you must obtain a European Health Insurance Card, which you can get free of charge from Post Offices, online or over the phone. However, the European Health Insurance Card should not be treated as a substitute or replacement for private travel insurance. This is because few countries pay the full cost of the medical treatment and you often have to pay for medicines and beds. Furthermore, additional travel, accommodation and repatriation costs are not covered which is why you should consider the benefits of travel insurance to make sure any medical costs are covered should the unexpected happen.
What is covered?
No insurance policy will cover absolutely everything that can happen during a trip but policies will aim to provide cover for the most common problems. When you are on holiday it is important that you don’t take any unnecessary risks and please remember that most insurers do not cover drink or drug related incidences or leaving valuables or possessions unattended.
Some things that are covered in most insurance policies include:
– Travel delays – Unfortunately many people experience travel delay but with this cover you will receive compensation for any additional costs incurred while waited for a delayed departure.
– Cancellations – You may have to cancel your trip or cut it short because you have fallen or ill or had an accident, been made redundant or been called up on jury service.
– Missed departure – This provides assistance and support to reach your final destination if you miss your departure.
– Lost/ stolen items – Compensation for baggage, belongings, money, passports
– Emergency medical treatment and repatriation – Some countries may have a limited public health services and the costs can be extremely high. You can be sure that you are covered for unforeseen illness, injury or accident and repatriation to the UK
– Personal liability – If during your trip you are responsible for accidentally injuring someone or damaging their property there is a chance that you could be sued. This is important if you are taking part in activities where there is risk of collision with someone such as skiing.
– Legal expenses – Many policies provide cover for the cost of legal action to obtain compensation if you are injured while away and someone is responsible for that accident.
There are many additional cover options that can include:
– Winter sports – If you are going on a winter sports holiday you should think about a specialist policy that will cover you while on the slopes. This will cover you for all your medical expenses, piste closure and lost theft or damaged ski equipment.
– Hazardous or sports and leisure activities – Can cover you for a range of activities from scuba diving, windsurfing to mountain biking and many more.
– Terrorist incidents – Will cover medical costs and repatriation if you need to be flown home after a terrorist attack. Can also cover damaged goods and the cost of alternative accommodation or flights home.
– Scheduled airline failure – If the airline goes out of business
Existing Health Conditions
Medical emergencies that policies do not cover include claims relating to existing medical conditions that have not been declared and accepted by the insurer. You must therefore disclose any medical conditions because you may be unable to make a successful claim if you need to. You must tell your insurer about your health history. If you had a condition before your trip that you have not declared to the insurance, your insurer may not pay for medical treatment or the costs to get you home for any claim related to that condition. If you have a disability, health condition or illness then this is likely to affect your premium and also the level of cover available.