Travel insurance is the only way to ensure you cover your holiday for any and all eventualities. Many of us go ahead and book our travel insurance without really thinking about the specifics, but this isn't the best way to do it as you may end up with a policy that falls short.
Let's explore the various things your travel insurance policy should protect you against.
Health
No one wants to fall ill or have an accident at the best of times, but you certainly don't want to have an experience like this when you are away from home. Unfortunately, some people are not always lucky. If you fell into this category while on a break, would your travel insurance provide the protection you need to pay for medical bills and other associated costs? This is a very important area; most experts recommend at least £1 million of cover for medical emergencies, and some recommend more.
Cancellation
This will cover your holiday costs in case you have to cancel it. The terms for cancellation should be provided in the small print for the policy, so make sure you check them to know the details. You should also check to ensure you would be covered if the holiday provider should go bust before you leave or while you are away.
Baggage and personal belongings
No one wants to arrive at their destination only to find their luggage has gone somewhere else! However this can and does happen, so it is good to know your baggage is insured in case it happens to you. While you would hope your luggage would eventually turn up, you may have to get by without it for several days. Furthermore if it doesn't turn up and is declared "lost", you have to pay out to replace everything that has disappeared if you don't have a policy.
The same applies to your belongings. Your insurance should cover your holiday if you lose or someone steals any of your belongings like a camera, electronic equipment, phone, credit cards, cash and jewellery.
Watch out for the excess
When you are looking for the best value policy, make sure you check out the excess. The affordability of a particular policy can be directly related to the size of the excess applied. For example, a small premium for your policy is tempting, but you may pay for it with a higher excess if you need to make a claim. Conversely, a slightly higher premium would mean a much smaller excess - it is well worth considering which option would suit you best.
Once you understand the basics of the average travel policy to cover your holiday, you will find it much easier to review and compare the many options available to you. This will lead you towards the best and cheapest policy for your personal situation.
Patrick Chong is the Managing Director of Insuremore. We provide low cost travel insurance and offer a range of policies to cover your holiday, including single-trip, multi-trip and family insurance. For all your insurance needs, Insuremore can help you in the quickest and most cost-efficient way.
