Planning a holiday takes time and isn’t always as straightforward as it seems. You have to think about flights, transport to and from the airport, accommodation, activities, where to eat etc. The last thing you want on your mind is any unforeseen circumstances taking place such as delays, cancellations or lost luggage to name just a few. This is where a travel insurance policy can help, giving you the added protection and peace of mind, should you suffer a financial loss.
These days, cover is relatively affordable, as there are a number of companies offering these types of policies. This is why it’s even more important to compare various products to make sure you’re getting adequate protection. You can do this at Utility Saving Expert, a free online comparison site helping you compare leading industry providers in a matter of minutes. It’s quick and easy to compare the various features each policy offers and filter these deals by price. Our simple guide will give you a good understanding of travel insurance is and what you need to look out for.
So, what actually is travel insurance?
Simply put, travel insurance covers you against any losses that you may suffer should something unexpected occur whilst you are on holiday. This applies to UK and overseas travel. It aids you if your flight or accommodation is cancelled, your possessions have been lost or stolen, and is a must have if you injure yourself abroad.
What type of cover is available?
Each provider will offer its own policy types, although you can normally expect to choose from three different options, we have listed these below.
Single trip
As the name implies, this covers you for a single trip while you are travelling.
Annual multi-trip
The name has given it away again; this covers you for multiple holidays over a full 12-month period. You won’t have to purchase cover each time you travel.
Backpacking
This covers you for an extended period of time to multiple locations.
What will my policy cover?
This will depend on which insurer you choose, and the policy you select. Remember, it’s a good idea to carefully read the terms and conditions before buying so you know what is included, and what exclusions and limitations are applicable. Not every policy is the same, some may offer a basic level of cover, whilst others are far more comprehensive.
Generally speaking, most travel insurance policies will cover the following:
Your possessions
This includes your personal belongings, luggage, documentation and cash up to a specific amount, if it’s been lost by you or you’ve been a victim of theft.
Medical cover
Most insurers will normally provide cover for any emergency medical treatment, should it be required. However, it’s important to note that if you do not disclose any pre-existing health conditions when buying the policy, you may not be covered for this. This is why it’s important to provide accurate and honest information to ensure your claims do not get rejected.
Disruption
You can claim back money if your holiday plans get disrupted for a number of different reasons. These include delayed or cancelled flights, missed transportation or cancelled accommodation.
Legal expenses
If you are involved in an accident that you were not at fault for, your legal fees may be covered. This can also apply to incidents that were your fault and you have to pay personal liability. The insurer will be able to cover these costs up to a certain limit.
Remember, don’t automatically assume that your travel insurance policy covers things that are considered to be common, even if you have a comprehensive policy. This is why we recommend reviewing the terms and conditions beforehand. Fortunately, some of these common things can be included as an optional extra for an additional fee. Examples include: outdoor sports activities, expensive personal belongings and labour induced injuries.
Travel insurance can vary in price and will be based on a number of different risk factors. This includes your age, where you’re travelling to, length of stay and any extra add-ons that you’ve purchased. For example, an individual in his/her 20s visiting Italy for the weekend may be expected to pay about six to seven pounds, while a retired couple on a journey across the world may have to pay 20 times more.
Annual travel insurance can benefit you if you’re planning to take multiple trips within a single 12-month period. It’s also recommended that you buy a travel insurance policy as soon as you’ve booked your next vacation. If you have to cancel the trip, you know that you will have sufficient cover in place. You can’t cancel the trip and buy cover after the fact.
Commonly accepted reasons why someone may cancel a trip include: becoming injured or too ill to travel, made redundant from work or you’re forced to cancel because of a bereavement.
In summary, travel insurance is relatively inexpensive and will be a must-have for anyone travelling in the UK or overseas. Cover provides a whole range of benefits and can give you peace of mind should the unexpected take place.
