Travel insurance: Unknown cover
Holidaymakers 'in the dark' over travel insurance cover
Thursday, 31 Jan 2008 14:56
Twelve per cent of people do not know what their travel insurance covers – meaning they could be over- or under-insured and could miss out on making a claim.
A poll of 2,082 adults by MoneyExpert.com reveals many are uncertain whether their travel insurance covers passports, or how much medical cover they can claim for.
Some 34 per cent could be losing out on making claims as they think they are not covered for late or cancelled flights, trains, or ferries.
However, 97 per cent of travel insurance polices do offer some compensation for cancellations.
"With people travelling to increasingly exotic destinations and keen to do ever more adventurous activities while abroad, it’s a worry m7any don’t understand what they’ll be covered for," said Sean Gardner at MoneyExpert.
"Obviously a white water rafting holiday poses more of a risk than a beach holiday in Spain so it’s vital that people consider exactly what activities they’re going to be doing, and then choose their policy accordingly.
"If they don't they risk a serious pay out should something go wrong."
Consumers could also make savings on travel insurance by using home contents insurance to cover their belongings – although this may not work for high priced objects.
On a standard policy medical expenses of around £2 million are advised, personal liability cover of £1 million, and cancellations fees of £3,000, as well as insurance for any cash you are taking.
An insurance company that is easy to contact on a 24-hour emergency line while abroad in case of an emergency or claim is also useful.