Your Guide To Travel Insurance

Travel insurance is often overlooked until the last minute and sometimes forgotten completely. This is understandable during the typical pre-holiday excitement, but it is vital you consider seriously taking out a policy. Of course many of us feel that this is an unnecessary cost and the money can be better spent elsewhere, perhaps a new pair of shorts or sunglasses, I hear you suggest? By the end of this article it is my hope that you will come to realise that travel insurance is really an essential component of your holiday and perhaps armed with the information you will find here, you will be able to find the perfect policy and maybe even save a little money in the process.

1. The card formerly known as E111

It is a common misconception for many of us to believe that the new European health card (formerly known as the E111 form) will cover for any eventuality whilst travelling abroad. This unfortunately is not the case. The card was created to cover the cost of emergency hospital treatment and after the initial treatment you are left to foot the bill yourself. Covering yourself with holiday insurance will mean you should not have to pay for any continuing treatment. Of course it is still essential that you have the card as it is vital for the provision of initial emergency treatment. It is free to apply for and could prove very valuable in the event of it being needed.

2. How often do you travel?

Now you have hopefully applied for your European health card and begun to seriously consider the prospect of taking out an insurance policy you may want to decide what type of policy to go for. When I say type I refer to the length and frequency of holidays in a yearly period that the policy will cover. Standard offerings in terms of policy type are; single trip, multi trip, annual and family/group. If you are only planning to travel once in a yearly period you will find it cheaper to search for a single trip policy. If however you are planning to travel several time’s you will find it much cheaper to apply for a multi-trip policy (be careful to check the length and frequency of holidays allowed under this type of policy). Travelers who frequently find themselves abroad may find it better to choose an annual policy as this will cover for a longer period and allow more trips under the one policy. Of course if you are a family or a large group you will find it cheaper to choose a policy bearing the same name. Many providers give free travel insurance to under 18’s in a family party.

3. Be honest

I cannot emphasise strongly enough the need to be completely honest when applying for a travel insurance policy. Failure to declare a health issue no matter how insignificant it seems, could result in your policy being classed as void when you really need it. It is much better to be honest even if this means your policy becomes a little more expensive.

4. Sightseeing, relaxation, sporting activities; what type of holiday are you planning?

It is important to consider what type of holiday you are intending on. If you simply plan to see the sights or spend you time relaxing you can simply apply for a standard policy of your choice. If however you plan to carry out any sporting activities such as skiing, water sports or climbing, you will need to seek specific insurance such as winter sports in the case of skiing. It is a little know fact that many insurers do not cover scuba diving as standard on their polices. This is a past time many of us have enjoyed when traveling to the more tropical of destinations, possible unaware as to the lack of cover. Following a similar vein, if you intend on backpacking you should seek backpackers cover as this is considered a higher risk by the insurance companies.

5. How do I know what levels of cover to look for?

You should use the following amounts of cover as a guide when searching through policies.

As a minimum your policy should cover for; Medical expenses £2m, personal liability £1m, cancellation £3,000, baggage £1,500, cash £250, a 24 hour emergency line, cover for legal costs and finally financial ombudsman service membership in case you need to complain.

6. Almost there

Now you are armed with the above information you should be able to find the best cover to suit your needs. Before you begin to look, here are some further pieces of useful info to help you. Remember that all insurance is a case of risk assessment. If you make yourself more of a risk to the insurer you will be more expensive to insure. A great piece of advice I can give is not to look just for the cheapest policy, but consider the level of cover you are receiving at this price. Check you are covered for eventualities such as theft, cancellation of holiday/flights and baggage cover. Look for a policy offering you at least the minimum level of cover you require in all areas, who knows it may end up being the cheapest. Always check the excesses you will be expected to pay in the event of a claim. These vary considerably between policies and can make a big difference in the amount you will pay at the time of purchase. Finally 2 facts you should be aware of; If you are under the influence of alcohol /drugs at the time of an accident your policy provider will not pay out. Secondly, with regards to theft cover; if you leave your items unattended and visible to a potential thief, you will not be covered. Always ensure you carry any expensive items, where possible, upon your person or use a safe if provided in your accommodation.

As a final note; why not consider using a comparison site to search through policies quickly and easily. Moneysupermarket.com is one such site and will allow the visitor to perform a free search through over 500 travel insurance policies.