03 January 2014
It isn’t that hard to find a travel insurance policy these days, but that’s also part of the problem. It’s very tempting to just get a policy as quickly as possible. However, it is much better to go over the details first, as it can make a huge difference when it comes to getting the right cover and saving money.
Here are some facts about travel insurance policies you need to know:
Travellers can choose from two kinds of insurance: trip cancellation and medical, although some companies are now offering both. Medical insurance is more important especially if you are going to a country without any Free Medical Health Care System. It might seem like an extra expense, but the truth is Medical Evacuation and Repatriation can cost more than £30,000, so it’s better to be prepared.
The right time to purchase insurance is right after booking your trip. If you can do it on the same day do so, and don’t wait any longer than you have to. Remember too that the moment you pay, the Cancellation Cover start running. Read the Cancellation agreement carefullyto be clear on what you are or are not covered for in the event of you being unble to take your trip.
Before you get travel insurance you should learn the difference between primary and secondary cover. Primary will, for all intents and purposes, take over your current insurance, which will only take effect when your travel policy cover runs out. Secondary cover meanwhile, allows your current insurance to lead and it only covers those aspects that your insurance does not provide for. Secondary insurance can take 9 months to process, so primary insurance is the better option.
If you will notice, the majority of insurance policies have a trip cancellation policy, and there is a reason for it. This means simply that if you have to cancel the trip any time you should be entitled to get some of your money back. The amount you can get varies depending on the level of cover on your policy.
This part of your insurance policy is essential especially if your flight gets delayed due to weather, mechanical trouble, strikes and other reasons. The benefit here is fixed, but it will provide cover for beverages, food and other expenses you incur while being delayed. The cover can be £10 to £60, and this is per 12 hour delay.
If you’re looking for travel insurance make sure to check if the cover includes an Abandon option if your trip is delayed by 24 hours or more. If this is included in the policy you should be able to file for a claim, the total amount being specified in the contract. Before you sign any travel insurance policy read the contract and go through the stipulations so you don’t end up getting shortchanged.
Read also: Pitfalls of Travel Insurance