Travel Insurance - What you need to know

Posted on Monday, 30 March 2018

Millions of people in the past 12 months have had payout themselves due to invalid insurance or none at all. Are you the one in four people that have the wrong insurance or don’t even bother with travel insurance at all?

Travel insurance – the facts

  • 38% of travellers didn’t have the right insurance in the last year
  • 22% of those people had been away without any kind of insurance
  • 27% who had bought travel insurance didn’t declare pre-existing medical conditions or had done activities their insurance didn’t cover

Why do people go on holiday without travel insurance?

The main reason travellers don’t look into travel insurance is that they simply think that they don’t need it. Yet ABI (Association of British Insurers) has revealed that travel insurers paid out £370m in 591,000 claims last year. Incredibly, of the people who were surveyed, 82% of them didn’t even know that the emergency number in Europe was 112.

So do you still think you don’t need travel insurance?

You might be thinking, “oh it’s okay, I have travel insurance with my bank.” This may be sufficient. However, you need to make sure it’s valid for what you’re doing and where you’re going. Not declaring your existing medical conditions is also a really easy mistake to make but could cost you thousands in medical bills.

One final common mistake people make with travel insurance is not checking if it covers your flights and lost luggage. The last thing a traveller wants is their claim rejected because they didn’t check exactly what their insurance covers.

Do you need travel insurance for a holiday in the UK?

The UK is a popular holiday destination in its own right. A lot of people explore the ends of their home country and take an average of £676 in valuables with them. Without insurance, there’s no cover for lost, stolen or damaged belongings. UK travel insurance comes in many ways, covering you from cancellation emergencies, sickness or even bereavement.

Research shows that 8% of Brits on a staycation have been a victim of loss, theft or damage with expensive tech and jewellery.

So what do you need to look into?

  • Tell your insurer of pre-existing medical conditions
  • Be aware that travel insurance offered through your bank may be limited
  • Remember, some countries are excluded from European cover (even though they’re in the EU)
  • Realise not all activities are covered – even just jumping on a push bike can put you at risk if you need to make a claim
  • Be conscious of limits on expensive items (as well as limits on passports!) – phones, cameras and laptops are commonly omitted from standard policies due to their high value

What is the best travel insurer?

Well, there are hundreds of travel insurers. However, everyone has a different budget, different medical background as well as different needs for insurance. So we can’t advise exactly who to go to.

Looking around and getting quotes is time-consuming, but once you have found a company with good customer service rating, good price and clarity of their policy, you’re good to go and will save yourself thousands in the future if anything does go wrong.

Finally, don’t be scared to contact them to ask and double check!

You can browse and book travel insurance packages here .