Do you know what your travel insurance covers you for?
The insurance world can be mind-boggling to the average person and it’s no wonder a huge 25% of us admit to only reading the terms and conditions of a policy when we need to make a claim. Many of us are left frustrated when we realise we are not covered for every eventuality, but by this point it is too late to do anything about it!
By reading your policy wording before buying a policy, you can ensure you are covered for your needs – and will not be left out of pocket should the worst happen.
Knowing where to purchase your policy is another worry when it comes to buying travel insurance; you can go direct to the insurer, through a comparison site, take out cover through your home insurance or bank account… with so many options, how do we know which one is more cost-effective and more importantly, which will give us the cover we need?
We spoke to three families who purchased their policies through their home insurance, a comparison site and through their bank, to ask them if they knew what their travel insurance policy covers them for.
Travel Insurance Cover Through Home Insurance
Mother and Son, Sam and Myles, are starting to plan their next family holiday.
Sam buys her travel insurance through her home insurance provider at £10 per month: that’s £120 per year! For that price you would expect cover for every eventuality, but does Sam have the cover she wants and most importantly needs?
Myles is likely to take his iPad on holiday with him therefore it is important to make sure the policy covers for gadgets as standard or offers an ‘add on’. When buying a policy, you should also check the cover limit, as some policies will only cover up to £500.
Sam tells us that if Myles’ iPad was lost or stolen, she would want a replacement within 24 hours. Unfortunately, this may not be possible; most travel insurance policies will ask that claims are submitted when you return home, and will then be assessed.
It is also worth taking into account that most policies do not replace gadgets new for old but instead take into account the age of the gadget and any wear-and-tear damage. There are some policies that will replace gadgets new-for-old so if this is something you expect from your travel insurance, we recommend doing your research before buying.
Watch the video now to see if you thought the same as Sam!
Buying Travel Insurance Through Comparison Sites
According to Lily of the Finney family all she needs on holiday is the pool, the Wi-Fi and drinks – and we couldn’t agree more! As the Finney family used comparison sites and focused on the cheapest policies, they may not be buying a policy that fits their needs.
The Finney’s believe that if they had to cancel their holiday, they would only pay one excess. Unless stated otherwise, an excess on a policy is per person and with some policies on comparison sites offering a cheaper premium with a high excess, the Finney’s would be at risk of paying more than the holiday cost in excess should they need to cancel their holiday.
It is worth noting, there are policies that have zero excess. Although these policies are slightly more expensive, spending a few extra pounds now could mean you are not left both disappointed and out of pocket should the worst happen.
Watch the video now to hear more.
Travel Insurance With Your Bank
What is Sophia’s favourite part of going on holiday? No school of course!
The Ranas Family have purchased their travel insurance through their bank, but do they know what to do if one of them was taken ill or injured on holiday?
Mum and Dad both felt they should know what to do in an emergency situation. Dad mentioned he has a card with important phone numbers on from the insurer (very sensible!), but Mum doesn’t know where it is kept!
Dad says he knows what to do – Mum asks, but what if he is the person taken ill?
We recommend everyone is aware of the insurer’s emergency contact team number and the number for the local authorities; store them in everyone’s phone, keep a copy in your bag/purse and leave a copy in the hotel safe – this way, everyone will be able to contact the correct person in an emergency.
The family, like many of us, had no idea what the European Health Insurance Card (EHIC) was or why is was important. The card, when shown to state hospitals in Europe, will provide you with free or discounted healthcare. Despite Brexit the EHIC is still valid, but it is important to remember it is not a replacement for travel insurance. Your EHIC will not cover for repatriation or if you need to be air lifted to hospital!
Watch the video to see if you have the same process as The Ranas.