Travel insurance – What you need to know

Travel insurance provides additional security in case your vacation doesn’t turn out as expected. Therefore, it is advisable to ensure that you have adequate coverage when embarking on a planned trip.

When traveling independently, it is crucial to have travel insurance as it can prevent you from being stuck without a means of returning home and without any assistance in resolving any issues that may arise during your trip.

Take a look at this page for a comprehensive guide on the factors you should consider prior to purchasing a travel insurance plan.

Top tips

  • Travel insurance is crucial, especially when you are traveling solo or independently.
  • Select an insurance policy that meets your specific requirements.
  • Analyzing the coverage provided and the associated costs when comparing policies.
  • Verify if you possess any additional insurance that will provide coverage while you are outside of your residence.

Is travel insurance necessary?

Travel insurance has the ability to safeguard you from potential mishaps that may occur during your travels.

  • If you are forced to cancel or shorten your trip due to circumstances outside of your control
  • If you happen to fail to catch your transportation or experience a delayed departure due to circumstances outside of your control.
  • Emergencies of a medical nature as well
  • Injuries and fatalities resulting from accidents or mish
  • Misplaced, pilfered, or impaired possessions, encompassing luggage, passports, and currency.
  • Unintentional harm or physical harm caused by oneself.

If you lack travel insurance, you will be responsible for covering expenses if any issues arise during your trip. Additionally, if you need to cancel your plans and are unable to obtain a refund, you may experience financial loss, potentially amounting to a significant sum of money.

Older travellers

If insurance is unavailable to you due to your age, many insurers or brokers will recommend an alternative insurance provider or provide information about a referral service like the British Insurance Brokers Association’s (BIBA) ‘Find a Broker’ service. This service enables you to locate specialized insurers who cater to specific coverage needs based on factors including age and medical condition. With this comprehensive approach, individuals can have access to both tailored insurance coverage and prompt medical evacuation services tailored to their specific needs.

Best places to purchase travel insurance

Travel insurance is readily accessible and can be purchased from various sources.

  • Insurance
  • Stores and grocery stores
  • Travel
  • Online comparison platforms
  • Travel

Occasionally, travel insurance could be provided as an additional service included with your bank account or credit card. It is important to verify the cost and extent of coverage provided. It is worth noting that certain limitations may apply, particularly in terms of coverage for your spouse or partner. In such cases, it may be more advantageous to purchase a separate policy.

Your knowledgeable audience may be provided with the option to purchase travel insurance from Your travel agent when booking a package holiday. It is important to note that while this insurance is offered, it is not mandatory to purchase it. It is illegal for The travel agent to coerce you into buying the insurance or to charge you additional fees for your holiday if you decline it. If you encounter such a situation, seeking advice is recommended.

Tips to consider when purchasing travel insurance

When selecting a cover, it is crucial to consider the suitable option that caters to your requirements. Take into account the following factors:

  • When determining your travel destination, it is important to consider the need for additional medical insurance, especially if you are planning a trip to the United States.
  • The cost of travel insurance can vary based on your age, with higher costs for individuals over the age of 65. It is advisable to explore specialized insurance policies designed for older travelers.
  • If you frequently travel, it might be more suitable to purchase an annual travel insurance policy instead of multiple single-trip policies.
  • While you’re on vacation, it’s important to consider the activities you’ll be engaging in. If you plan on participating in high-risk sports like skiing or scuba diving, you might want to consider obtaining additional insurance coverage.
  • If you’re traveling alone or with a prearranged vacation package, you may have different levels of protection in case of transport or accommodation issues. Package holidays often provide better safeguards, reducing the need for a travel insurance claim.
  • The mode of your travel can impact your insurance coverage, as some insurance policies may not include coverage for cruises and budget airline flights.

What components should be covered by travel insurance?

When it comes to your travel insurance, it is crucial to ensure that it encompasses the following types of coverage:

  • Medical costs and protection for repatriation in case of injury or illness while overseas.
  • Insurance coverage for personal injury and protection against accidents or damages caused by the policyholder themselves.
  • Protection in case of lost or damaged belongings.
  • Protection for misplaced or postponed luggage.
  • Protection in case of canceled plans or missed departures.

The cost of your insurance is determined by the level of coverage you require. It is important not to skimp on coverage just to save money. However, there are options available to help reduce expenses.

The EHIC: An Overview

If you’re a resident of the United Kingdom and possess a European Health Insurance Card (EHIC), you have the option to continue utilizing it for receiving medical treatment in European Union countries until its validity expires.

If you do not possess a valid EHIC or if it has expired, you have the option to request a UK Global Health Insurance Card (GHIC) through the official NHS website. This GHIC allows you to access healthcare services in European Union (EU) countries at a discounted rate or occasionally free of charge. It is advisable to obtain travel insurance prior to your journey, regardless of whether you possess an EHIC or GHIC.

Home contents insurance

Make sure to verify whether your home insurance policy provides coverage for belongings that you take outside of your home. If it does, you have the option to increase the deductible on your travel insurance. The deductible is the amount that your insurance provider will not reimburse for a claim and usually ranges from £50 to £100. Opting for a higher deductible could result in lower premiums for your travel insurance.

Selecting the appropriate insurance provider

When you’re considering insurance policies, it’s crucial to not just focus on the price, as the cheapest option may not necessarily provide the best value. Take the time to carefully review what is covered in the policy in addition to its cost.

To obtain information about the offerings and costs of various policies, you can utilize an online comparison platform. Nevertheless, it is important to note that such websites typically provide only generic coverage options. If you have specific requirements, it might be more beneficial to seek out an insurance provider that specializes in tailor-made coverage.