- Personal Finance
Don't Travel without Holiday Insurance
Holiday insurance or travel insurance is not a legal requirement but it is highly recommended. If you are going on holiday this year, then you may need to take out some form of family holiday insurence or travel insurence just in case things go wrong. Clearly it is in your interest to keep any insurance costs to a minimum whilst at the same time providing you with decent cover and peace of mind.
Generally speaking it is not a good idea to get your insurance from your travel agent, there are generally cheaper places to get your insurance. It is illegal for any travel company to discriminate against a customer who does not take out their insurance, so if you think you are being charged a different price then you have grounds for complaint.
If you're anything like me you won't like taking out insurance, preferring to take the risk and just hope nothing bad will happen. Generally speaking nothing bad ever did happen to me on my travels, but maybe I was just lucky (I was also very careful). But some people will say that is just a way of sticking your head in the sand. Insurance is certainly the wiser option. But if you don't trust insurance companies then it is very important to make sure you check out the small print. There are usually clauses in insurance policies to exclude a whole oad of stuff.
Also,. be sure to point out to your potential insurer if you intend to engage in activities which may be deemed as dangerous ar adventurous, such as scuba diving, bungee jumping, rock climbing etc... it would be a pity if you had an accident to discover that you weren't covered simply because you 'forgot' to mention what you would be doing. And don't forget, insurance companies will be on the look-out for any reasons they can use to screw you out of any money they owe you, so don't make it easy for them.
It is recommended (for people in the UK) that they get a minimum of: £2 million ($3.2 million) medical cover, £1 million ($1.6 million) personal liability insurance and £1500 ($2400) baggage cover. You should make sure that the cost of your holiday is fully covered if it is cancelled or delayed. To make sure you are getting the best insurance cover at the most reasonable price it makes sense to use an online comparison service such as confused.com If you are over 65 or have a pre-existing medical condition then family holiday insurance will be more expensive. You may be able to find cheaper family holiday insurance cover from specialized associations such as Age Concern in the UK. If you have a pre-existing medical condition then you should also check out specialist insurance companies as it may prove difficult to get the cover you need. If you travel abroad regularly, particularly if you travel to the USA where health care is very expensive, your insurance cover will be more expensive if you take out single trip travel insurance , it makes sense therefore for regular travellers to take out multi-trip travel insurance. It will bring down the cost of the insurance, in the same way as buying wholesale does.
What about Scheduled Air Line Failure ?
Lost of businesses go bust, you might like to consider therefore insisting that your insurance policy includes Scheduled Airline Failure Insurance (SAFI)
Check that your insurance policy covers the following :-
- cancelling your holiday or cutting it short
- illness or injury
- loss or theft of belongings
- missed or delayed connection
- liability for accidents to other people caused by you
Finally, make sure you have the contact details of your insurance policy with you along with a copy of it. Make sure you keep receipts or proof of purchase of anything you may be likely to claim for. And make sure you inform your insurer before taking out the policy if you think you will be involved in dangerous or hazardous activities while you are away.