Lost? Travel Insurance Advice Can Help

Travel Insurance has become a necessity instead of a luxury nowadays. We’ve included an advice list that we have found to be relevant when considering what to look for applying for this type of insurance.

“ Always read the policy through and ensure the small print covers the type of travel cover that you are looking for.”

Types of Insurance

Shop Around

What to Look For (Basics)

Medical

Pitfalls to Avoid

How Do I Choose?

Travel Insurance Advice

Types of Insurance

Duration

Trip-By-Trip (Single Trip)

Traditional travel insurance provides cover on a trip-by-trip basis. If you only make one or possibly two trips abroad a year, this may well be the best option.

Annual

A second idea is to opt for an annual policy. The advantages include eliminating the need to arrange cover for each trip and are a better deal for families.

Travel Purpose

Travel cover is generally structured according to your travel purpose. A ‘basic rate’ is calculated based on duration and then the purpose of the trip is added on as additional cover.

Higher Risk = Higher Cost

Some examples can include:

Adventure Travel ; Backpackers ; Business ; Winter Sports

Shop Around

You can buy travel insurance through a number of mediums. Shop around as the first deal may not always be the best. Options can include:

Travel Agents/Tour Operators - they are excellent if the policy is provided as part of the holiday deal. Otherwise they can be very expensive.

Brokers/Insurers - can be a lot better than add-on deals from travel agents. This can vary widely from insurer to insurer.

Online – nowadays the simplest and most effective way to obtain cover quickly and easily is through the web.

Holiday insurance prices can be very competitive based on the kind of cover you want and even who you are, so Shop Around!

What to Look For (Basics)

1. Additional Cover – See Types of Insurance
2. Cancellation Policy – are you covered if your holiday is cancelled.
3. Delays and Missed Departure – Covers replacement costs where directly related to a delay.
4. Legal Expenses – Payment of legal costs if you sue someone for damages.
5. Loss of Passport – Not always covered. Covers additional expenses incurred to get it replaced.
6. Medical Costs -See Medical section.
7. Permanent or Recurring Illness – Insurers will not cover a recurrent illness if not informed beforehand. They may request proof of travel ability (eg. a letter from your doctor).
8. Personal Accident Cover – to pay out if you are killed or permanently disabled on holiday.
9. Personal Belongings – Coverage against loss of your personal belongings and cash. Insurance insist on a duty of care requiring you to look after your items and as such may have to prove how loss occurred.
10. Personal Liability – Basic cover if you are being sued for damages.
11. Violent Events – additional cover for violent activity such as mugging, hijack or natural disasters.

Medical

The most important part of travel insurance is medical cover. At the very least, ensure that the following is covered:

Treatment at the destination, additional costs related to the illness, the cost of being flown home, and access to a (English speaking) helpline.

Remember to keep illness related bills to submit for any claim you make.

Pitfalls to Avoid

Insurers may not pay up if they find you have been reticent with your insurance information provided or negligent during your travels.

Avoid

• Drink or drugs.
• Travelling against medical advice eg. late into pregnancy.
• War related medical expenses and accidents are excluded from many policies.
• Travel insurance claims can lead to a loss of your household no claims bonus in certain instances.

How Do I Choose?

The first place to start is to check that the insurance agent is a member of the travel insurance regulatory body of your country.

Also Consider using an independent advisor for an unbiased review. As an independent, they will be able to help you through the maze of covers available, and choose the right insurer for your needs at the most reasonable cost.