Buying travel insurance can give us peace of mind, but it is really important to take the time to choose the right policy for your needs. All insurance policies are not created equal! For real peace of mind you need to be sure that the product you have in place gives you the cover and security you expect.
Here are some common covers you should consider:
- Lost luggage Ensure cover is adequate to cover the costs of all your belongings.
- Flight delay or cancellation Ensure cover is adequate to cover the cost of your holiday.
- Cancellation in case of illness or death of a close family member
- Medical treatment while you’re away. Minimum cover should be £1m but for trips to counties with high healthcare costs eg USA and Australia you may prefer to obtain cover up to £10m.
- Adventurous activities Water sports, winter sports, horseback activities and aerial activities may need additional cover. Always check each activity is covered and purchase additional cover if needed.
- Medical evacuation and repatriation Particularly advisable if partaking in dangerous activities that may lead to serious injuries.
- Individual items Make sure the value of your expensive items such as latops or cameras falls within your policy’s single item claim amount. If it is worth more, you will need to purchase additional insurance in order to ensure it is protected.
- Personal liability cover of at least £1m
- Catastrophic cover “Acts of God” may not be covered, so in order to reclaim additional costs due to ash clouds, volcanoes or floods etc you may require additional cover. Insurers will often step in and help in these circumstances as a good will gesture, but this is not assured.
- Pre-existing medical conditions are generally not included in travel insurance policies, so it is likely you will need to purchase additional cover for this and go through medical screening.
- Consider paying for your holiday on your credit card as this provides additional security and rights to redress in the event of the company going bust.
- Single trip insurance offer good value if you only go on holiday once a year. Multi-trip or annual insurance generally works out much cheaper than purchasing several single trip policies.
- EHIC (European Health Insurance Card) entitles holders to state-funded healthcare while traveling in Switzerland and the European Economic Area. Additional insurance is advised to cover repatriation or cancellation and to cover charges for care not included in the programme.
- Some family travel insurance policies cover members travelling together and separately. Children can often be added free of charge. A family policy may offer best value for your needs.
- If you are an employer, or a charity with volunteers, it is worth considering a group business travel policy.
These policies provide greater scope of cover, better cover for pre existing medical conditions and for incidental holidays.
There is also the key consideration of ensuring that all employees have consistent cover. If you let each employee buy their own insurance you can find a wide variety of covers, endorsements, warranties and so forth, resulting in some claims being covered and others not while a group of your employees are undertaking the same trip.
- A policy is only good value if it meets your needs. Don’t just plump for the cheapest quote- take the time to choose carefully.
If you have any further questions or would like a travel insurance quote, get in touch here.
Any advice or information in this blog is general advice only. It does not take into account your personal circumstances: please do not take action based solely on this information.