Summer is an exciting time for most, with warm weather, BBQ’s and the lure of a last-minute summer holiday; you can be forgiven for letting your excitement overtake everything else. Travel insurance is often left until the last minute or, more worryingly, forgotten altogether.
Nearly 1 in 4 British people do not take out travel insurance, however. According to the Association of British Insurers, the average cost of a medical expenses claim is £1,200.00 whilst the average cost of travel insurance is £33.00 per policy.
It is worth checking to see if you are already covered for travel insurance as part of a “package” through your bank or through your employment benefits package. If you are covered through one of these means, ensure that you obtain a copy of your insurance schedule and policy (and take your schedule on holiday with you).
If you are heading to Europe, make sure that you have ordered and received a European Health Insurance Card (“EHIC”) as a number of travel insurance policies will not cover you for any costs which would have been covered, had you obtained an EHIC. These cards are valid for 5 years and are completely free of charge. Be aware that it can take more than 10 days to arrive and therefore order these well in advance of your holiday.
It is important to check the wording of any potential insurance policies very carefully; don’t assume that the cheapest policy will cover you for everything that you need. If you are going on an adventure holiday for example, most insurance policies charge extra fees for specific activities such as bungee jumping or quad biking. Also pay close attention to the cover maximum and the excess in light of the cost of your holiday or specific items that you want to cover, so that if you do need to make a claim, you are not left out of pocket.
Checking policies may seem like a tedious task but it is extremely important to be adequately prepared in case the worst were to happen.
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