Current Feed Content from 6 Oct 08 09:33
Overview of Travel Insurance
Introduction - It is very unwise to embark of a trip abroad without some form of Travel Insurance being in force. Cheap travel insurance policies are available from a wide number of sources and are relatively inexpensive. Most travel insurance and expensive policies cover a number of sections and the following are fairly typical of the sections generally on offer: Personal Accident., Medical & Emergency Assistance., Hospital benefit., Loss of Deposit or Cancellation, Cancellation or Curtailment, Delayed Departure, Personal Luggage Including Money & Valuables, Delayed Luggage, Missed Departure, Loss of Passport, Personal Liability, Legal Expenses and Ski Cover
Medical Expenses Cover - In this country, we tend to take health care and the National Health for granted, however, medical care is not available free of charge in all other countries and it is vitally important that you at least take out a Travel policy covering Medical Expenses. In the United States of America in particular, medical care is very expensive and you may find hospitals unwilling to treat you unless you can prove that you have some form of insurance protection being in force. In Europe, you can obtain a form E111 from the post office, which will provide you with certain covers but not all. It should certainly not be considered a substitute for a policy. Try to purchase a policy with a 24-hour medical emergency help line facility. You will be glad of this in an emergency, as these companies are able to liaise with medical facilities on your behalf. The last thing you will want to do in the time of illness is have to negotiate with a hospital over fees. Most polices will also cover medical repatriation cover if you need to be flown home.
Cancellation & Curtailment - You should consider effecting Travel cover as soon as you have booked your holiday, the cancellation and curtailment section, will come in to immediate effect and will provide a benefit if you are forced to cancel your policy and are unable to obtain return of your deposits.
The period of Cover - In the United Kingdom, your policy cover will start from the moment that your depart the United Kingdom, until the time that you return. Most Travel cover companies are very reluctant to issue any form of cover for you once you left the country so remember to take out cover before you leave. Similarly speaking they usually do not like to issue cover if you do not intend to return to the United Kingdom.
Information Required by Brokers or Lenders - In order to quote you a premium for Travel Insurance, your insurers will require to know a certain amount of information from you. For example, where you are travelling - this information will affect the price of your travel insurance policy, the duration of your trip and the purpose of your Trip. If you intend to engage in any of the above activities or believe any other pastime may be consider dangerous, always refer to the insurer before you travel. The bulk of Travel Insurance policies have what is known as a pre existing medical condition warranty, in simple terms this means that if you are already suffering from an illness or a condition, you will not receive any cover if the condition requires treatment whilst you are abroad.
What is Normally Covered? - Travel Insurance policies vary from insurer to insurer so you should satisfy yourself that the contract you are being offered suits your needs. Point out exactly the purpose of your trip, is it business or pleasure and remember to check if you are carrying out any hazardous activities as defined on the insurers list. Your Travel policy will come in a number of sections, some will be compulsory, some you can choose as extras. In some cases you can exclude sections to obtain a discount. Whatever you decide, it is a good idea to make sure that you have a comprehensive medical expenses section as this is where large claims can arise..
Holiday Checklist - Going on holiday even for a short period of time can be a major event, there are so many things to remember to do; here is list of the most important things to remember to book your travel insurance as soon as you have confirmed your travel arrangements. Even if you are not traveling for quite some time, the cancellation and curtailment section of the insurance policy will come in to force immediately. This is essential cover as you may find that if you are forced to cancel your holiday, you are unable to obtain a refund of your deposit. There is usually no extra charge for cancellation and curtailment insurance cover, even if the police is effected many months in advance.
How to Save Money on Travel Insurance - Travel Insurance polices are available from a wide number of sources and as with all types of insurance policy, it is worth shopping around. Always check the cover on offer as cheaper options may have a lower sum insured for medical expenses, whilst this may be acceptable whilst traveling in Europe, a higher sum insured will be required if you are traveling to the United States of America. If you book your holiday via a tour operator, they will undoubtedly offer you their own travel insurance policy, these tend to be amongst the most expensive available on the market so beware, don't just take out cover just because it is convenient. You may find that if you are travelling as a family, you can buy a policy that will cover all of you, ask about a family policy, it may save you money. If you travel on a regular basis, investigate the possibility of an annual policy as this again may save you money. Be careful if you do buy an annual policy as particularly the cheaper ones have maximum trip duration. more...
Frequently Asked Questions - we hope you find these useful:-
What's the maximum length of time I can be covered per trip? - Most insurers offer flexible travel dates to you starting at just a few days all the way to 12 months policies. It is worth remembering that if you buy an annual policy, in all probability, there will be a maximum duration of trip limitation clause. This will usually be 30 days. You can make as many trips per year as you like but insurance will not be provided if any trip is over 30 days. If you intend to stay abroad for longer than this, refer to the insurers and request a policy that has a larger time limit.
Can I extend the period of cover? - Normally speaking if you or anyone travelling with you cannot finish the journey because of death, illness or injury, or there is a delay to the public transport system that cannot be avoided, the insurer will extend your cover for a reasonable amount of time. There is normally no charge for this facility. However, if you are abroad and you just feel like staying longer it is unlikely that you will be able to extend your policy at all.
Are business trips included? - It is possible to cover business trips at similar insurance premiums to standard holiday Insurance. Don't assume that cover will be automatic though, always refer to the insurance company and tell them exactly what you will be doing particularly if you intend to carry out manual labour. All forms of dangerous work are usually excluded.
Can I purchase cover after I have left the United Kingdom - It is not normally possible to purchase cover once you have left the United Kingdom. Most policies will also cover trips starting and finishing in the United Kingdom so it pays to arrange your cover well before you leave.
What is a pre-existing condition warranty? - Any medical conditions that you are aware of whether diagnosed or not will Usually be excluded from your policy. Most insurers operate a medical; help line and if your condition is stable and controlled they may consider offering you cover, but you must advise them, failure to do so will probably lead to an insurance claim not being paid. Insurers usually also exclude persons wanting to travel for medical; treatment. Certain conditions such as pregnancy or AIDS related illnesses are always excluded. Self inflicted injuries are also excluded from Policies.
What do I do if I am traveling with valuables? - If you are traveling with valuables you should first check the extent of your policy wording. You may find that the sums insured for valuables are quite low. £150.00-£250.00 per item is not unusual. Items above this value can normally be covered under your Home Insurance policy and it is best to check with your insurer as to the scope of the cover. If you have to take valuables abroad with you, it is best to carry them as hand luggage on any aero plane and make use of any safe facilities on offer at your destination
What should I declare to the insurer when booking my Cover? - You should declare all material facts to the insurer. Material facts are things that are likely to effect their assessment of your proposal. With regard to Travel Insurance, all medical conditions should be disclosed along with details of any business being carried out. You should also declare any hazardous activity that you intend to take part in. Remember, if you fail to disclose a material fact to an insurer you may invalidate any subsequent claim submitted.
When should I book my Insurance? - It is a good idea to book your travel insurance as soon as you have made your first deposit. The cancellation & curtailment section of the policy will start at this time. The premium however is usually only calculated on the days of Travel so it should not cost you any extra insurance premium. You may find that you are unable to recover your deposits and if you have a policy in force, you may be able to make a claim from the insurance company
Will my policy cover me against Terrorism? - Usually the answer to this question is a straight no. However some insurance companies particularly under group schemes are prepared to cover you for passive war & terrorism covers. If you are traveling and are worried about Terrorism always refer to the insurance company and ask if they can extend cover for you.
Will the sums insured be total amounts or per person? - The sums insured quoted in the schedule of insurance will be per person not the total per trip.
Will I have to pay the first part of any claim? - Basically yes, each section of your policy will have a policy excess. £50.00 is not untypical of Insurance excess
Protecting your Belongings - When we go on Holiday it is usual to take a number of items of value with us practically jewellery or perhaps photographic equipment. Whilst we may have insurance on these items, it is always better to save guard them rather that be forced to make a claim under an insurance policy. Whilst Travel Insurance will normally cover Personal belongings, the sums insured are normally quite low and it is usual to see if cover can be extended under a Home Insurance policy. Check with your Home Insurance provider, you may find that you have an automatic insurance extension of up to 30 days.
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