Thinking of travel
This week I am discussing the importance of travel Insurance and getting the right type of insurance. It is known that 40% of all travel insurance claims are made before a holiday (due to unforeseen circumstances) therefore it is vital to secure your insurance at this earlier stage.
Martin Lewis, The Money Saving Expert states “There are many cheap, decent value policies available online and via comparison sites from as little as £9 for a year’s European cover for an individual.
“If you go away two or more times a year then annual policies usually win.
“Plus, if you’re skiing or snowboarding you’ll need winter sports add-on for full cover, as this pays out for medical costs from ski accidents, damaged gear and cancellations due to piste closure.
“Check if your current policy includes this - if not, get a quote to extend it, then see if you can beat it buying new cover that includes winter sports.”
When researching the general costs of travel insurance and shopping around the points below should be taken into considerati
For me and my husband we opt for worldwide annual cover as it is best suited to our needs and works out cheaper than purchasing multiple single policies. My advice is to take time to shop around, compare all the policies terms and conditions so you are not caught out. Even if you have researched as recently as 2 months ago, research again. It is always worth a second look.
If you are fortunate to enjoy good health then there is usually not a problem in getting travel insurance. If you have a pre-existing condition then the cost of the travel insurance will increase according to your medical condition. To reduce the amount of the premium some conditions can be excluded. However, if you become ill with any of the excluded medical conditions while travelling your insurance will not cover you.
The Financial Conduct Authority (FCA) recently held a Roundtable meeting to discuss ‘Access to Insurance’. They were looking at people who because of age or health were unable to purchase travel insurance at a reasonable amount.
One group highlighted as finding insurance expensive was people affected with cancer, even though cancer is defined under the Equality Act 2010 as a disability. The Equality Act 2010 imposes various obligations on service providers aimed at preventing discrimination against persons with a disability.
Other people who find travel cover costly are older people, mainly those who have retired. They have the time to travel however the cost of the travel insurance can restrict them from enjoying this time of their life.
At present the United Kingdom is a member of the European Union (EU) and all citizens can avail of the E111 which allows EU citizens to be treated for medical emergencies while travelling within EU countries. However, I would recommend purchasing travel insurance. If you were involved in an accident or suffering from an unexpected serious illness the E111 would not cover costs for you to be repatriated by air ambulance. Nor the cost for your family to be at your beside. On a more ominous note, should you die while abroad the E111 would not cover the cost of bringing you home.
With the coming of Brexit the continuance of the E111 is uncertain. If there is no arrangement put in place for anyone outside of the EU this may also have an impact on the travel cover between Northern Ireland and the Republic of Ireland. If you travelling to the Republic of Ireland regularly it would be very important to know what insurance cover would be required.
Finally, if considering travelling get the insurance that is best suited to your needs, don’t assume and always read the small print.
“If you go away two or more times a year then annual policies usually win.
“Plus, if you’re skiing or snowboarding you’ll need winter sports add-on for full cover, as this pays out for medical costs from ski accidents, damaged gear and cancellations due to piste closure.
“Check if your current policy includes this - if not, get a quote to extend it, then see if you can beat it buying new cover that includes winter sports.”
When researching the general costs of travel insurance and shopping around the points below should be taken into considerati
- Multi trip policies - if more than one trip taken annually.
- Worldwide travel - check your insurance covers you for travelling in countries outside the EU.
- Cover for activities - on your trip you may take part in activities e.g. mountain climbing, hang gliding, bungee jumping, watersports etc. ensure your insurance premium covers your needs.
For me and my husband we opt for worldwide annual cover as it is best suited to our needs and works out cheaper than purchasing multiple single policies. My advice is to take time to shop around, compare all the policies terms and conditions so you are not caught out. Even if you have researched as recently as 2 months ago, research again. It is always worth a second look.
If you are fortunate to enjoy good health then there is usually not a problem in getting travel insurance. If you have a pre-existing condition then the cost of the travel insurance will increase according to your medical condition. To reduce the amount of the premium some conditions can be excluded. However, if you become ill with any of the excluded medical conditions while travelling your insurance will not cover you.
The Financial Conduct Authority (FCA) recently held a Roundtable meeting to discuss ‘Access to Insurance’. They were looking at people who because of age or health were unable to purchase travel insurance at a reasonable amount.
One group highlighted as finding insurance expensive was people affected with cancer, even though cancer is defined under the Equality Act 2010 as a disability. The Equality Act 2010 imposes various obligations on service providers aimed at preventing discrimination against persons with a disability.
Other people who find travel cover costly are older people, mainly those who have retired. They have the time to travel however the cost of the travel insurance can restrict them from enjoying this time of their life.
At present the United Kingdom is a member of the European Union (EU) and all citizens can avail of the E111 which allows EU citizens to be treated for medical emergencies while travelling within EU countries. However, I would recommend purchasing travel insurance. If you were involved in an accident or suffering from an unexpected serious illness the E111 would not cover costs for you to be repatriated by air ambulance. Nor the cost for your family to be at your beside. On a more ominous note, should you die while abroad the E111 would not cover the cost of bringing you home.
With the coming of Brexit the continuance of the E111 is uncertain. If there is no arrangement put in place for anyone outside of the EU this may also have an impact on the travel cover between Northern Ireland and the Republic of Ireland. If you travelling to the Republic of Ireland regularly it would be very important to know what insurance cover would be required.
Finally, if considering travelling get the insurance that is best suited to your needs, don’t assume and always read the small print.