Travel Insurance Guide
Introduction Types of travel insurance How much travel insurance do you need? How much should it cost? Travel insurance included Finally (and most importantly)| Introduction | Top |
With the world getting smaller and air travel getting cheaper, most of us seasoned travelers are jetting of to exotic parts of the world to enjoy sun kissed beaches, breathtaking mountain views, famous cities and many other of the wondrous delights mother earth has to offer us. The more energetic of us now pursue a number of activity holidays including skiing, mountain biking, surfing, to name a few. Now I don’t want to be the one to put gloom and doom into your mind but what if something goes wrong on your holiday? The answer travel insurance.
Depending on where you are going, if you do suffer an accident such as a broken arm or leg, or have a heart attack, or any other misfortune that requires medical treatment, the lightly hood is that unless you have travel insurance, you will have to pay out a hefty bill for medical expenses which could be in the tens of thousands!!
As a rule of thumb, the farther away from the UK you are, the more expensive it will be to get back home. The cost of being repatriated from the USA could be up to 40,000 GBP and up to 4,000 GBP from Europe.
Countries within the EU plus Switzerland, Iceland, Norway and Liechtenstein have reciprocal healthcare arrangements with the UK which you can take advantage of by applying for a European Health Insurance Card (EHIC). This will allow you to receive either free or subsidised treatment. Note however that the EHIC card only gives you cover for basic medical costs and does not provide cover for such things as repatriation costs or ambulances and other extras. You can apply online, over the telephone (0845 606 2030) or at the Post Office. It is advisable to look upon the European Health Insurance Card (EHIC) as an additional form of travel insurance and not a replacement for travel insurance. I would advise you that if you are going to a country that accepts the (EHIC) take out private medical insurance as well (Remember, better safe than sorry).
It is not only medical cover you need from a travel insurance policy, other disasters are waiting to strike the unsuspecting and unprepared traveller.
Loss of posessions
Lost luggage whilst travelling to your destination, stopping at your destination and coming back home from your destination.
Damage to personal posessions
Dropped the camera into the sea!
Lost your expensive gold ring!
Cancellation
If for any reason you have to cut short or even cancel your holiday.
Personal Liability
Just in case you accidently damage another person or their property.
Repatriated costs
Not to put too finer point on it, you die whilst on holiday and your family have to pay to get you back home.
| Types of travel insurance | Top |
There are a number of different types of travel insurance cover to suit the particular needs of the traveller, and the type of holiday he or she is embarking on. They are:
- Family travel insurance
- Annual travel insurance
- Single travel insurance
- Over 65 travel insurance
- Travel insurance for people with a medical history
- Winter sports travel insurance
- Activity travel insurance
Family Travel Insurance
Quite significient savings can be made on travel insurance premiums if you take a family travel insurance policy rarther than an individual travel insurance policy for each member of the family. Anybody under the age of eighteen is classified as a child and some travel insurance policy providers offer the same travel insurance premiums whether it is for one child or for six, which represents quite a saving for those with large families.
As with all insurance, check the terms of the travel insurance policy to make certain that it meets your requirements.
Annual or Single Travel Insurance
Annual travel insurance as the name suggests, gives you travel insurance for a number of holidays during the year whereas single travel insurance cover only gives you travel insurance for one holiday.
Depending on your holiday plans, the choice of annual travel insurance or single travel insurance could save you money on the premiums. If you take a number of holidays throughout the year, it would pay you to take out annual travel insurance, as this works out cheaper than taking out single travel insurance for each holiday. If on the other hand your only holiday abroad is a two week trip to the Costas, then single travel insurance would be a better bet.
For the More Mature Traveller (Over 65 Travel Insurance)
Although seen as a higher risk by some travel insurance policy providers, if you shop around, it is still posible to get good travel insurance cover at a reasonable price.
Additional benefits provided by travel insurance cover for the over 65s include bigger medical expenses (10m GBP against 2m GBP), additional cover in case of cancellation, and for departure delays.
Travel Insurance for People with a Medical History
People who have a medical history pay a bigger travel insurance premium than those who have not, but do not be temped to hold any information back as if anything were to happen while you are on holiday, the travel insurance company may not pay out.
It may be the case that your travel insurance provider will not cover you for any treatment for your pre-existing condition.On the other hand, they may provide travel insurance for you at an increased premium.This is still better than having to pay out thousands in medical expenses if anything happens to you.
If you are going on holiday to the European Economic Area, then make sure you have a European Health Insurance Card (EHIC) which will provide cover in case you need medical treatment. As always make sure you know exactly what the travel insurance policy covers you for (and what it doesn’t cover you for).
Winter Sports Travel Insurance
With skiing becoming evermore popular for people in the UK, there is always an associated risk of an accident whilst on the piste.Winter sports travel insurance can be provided as an optional extra with your general travel insurance policy or provided as a separate travel insurance policy. Depending on how much of a fanatic you are will determine the level of travel insurance cover you require, there are also travel insurance policies that cover additional winter sports such as ice hockey, tobogganing, skateboarding and bobsleighing.
You will need to make sure that what ever equipment you have brought with you or have rented, is also covered within your travel insurance policy against damage, loss or theft.
Finally, what happens if you get to your winter resort only to find that there is no snow.
It pays to take out a travel insurance policy that covers against green slopes (i.e. no snow).
Activity Travel Insurance
Most general travel insurance policies will provide travel insurance cover for the less dangerous activities as an add on to the main policy. If however, you intend to go on an adventure holiday that concentrates exclusivily on a particular activity or includes a more dangerous form of activity such as bungee jumping, hang gliding or white water rafting, then you should look for a travel insurance policy, to provide travel insurance cover for your specific needs. Make sure that you are insured before you take the first bungee jump.
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How much travel insurance do you need? |
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As a rough guide the following should be sufficient for most general holidays
Medical Costs 2 million GBP
Personal Liability 1 million GBP
Cancellation 3,000.00 GBP
Baggage 1,500.00 GBP
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How much should it cost? |
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On average, the cost for travel insurance cover when abroad is around 25.00 GBP per person per week. However, many of us only think about travel insurance when we are actually booking the holiday at the travel agents and then take the easy way out by letting the travel agent arrange the travel insurance for us as well. This is not the way to do it!
By organizing your own travel insurance, you could save over 50% of the premium and get a better form of cover to boot. For those of you thinking of an adventure or activity holiday, doing your own research when looking for specific travel insurance cover will also save you money. Just because one travel insurance company is more expensive than another, does not mean that the more expensive travel insurance policy will be better.
Always make sure that you know exactly what is being offered and what your travel insurance covers you for.
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Travel insurance included |
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You may already be paying for some sort of travel insurance which is included in your house contents policy, check with the house insurance policy provider to make sure exactly what possesions are covered outside the house. Bank account and credit card holders are sometimes offered ‘free’travel insurance, check the policy very carefully and make sure you exactly understand what the travel insurance covers you for. More likely than not you will still need to take out additional private travel insurance. Some Credit Card providers offer ‘free’ travel accident insurance, again check the policy very carefully.
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Finally (and most importantly) |
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I hope you have found the guide on travel insurance of use to you, and please remember whatever type of holiday you go on, the main thing is that you enjoy it.
