Travel Insurance, What is it and Why do you need it?

If you’ve never taken out a Travel Insurance policy, or if you have previously been covered on your parents’ policy, you may be wondering, why do I need one? Especially if you have been abroad several times and been lucky enough to never experience any problems…

The thing is, you never know when something could go wrong. Your bags could get stolen, or worse, you could fall ill abroad and require medical attention. Fortunately, these are just some of the things that are likely to be covered on your Travel Insurance policy.

So how does it work? What do you get for taking out Travel Insurance? And why is it important to do so?

What is it?

Insurance in any form is designed to protect you should the unexpected happen, like car insurance is there to protect you should something unexpected happen on the road. In Travel Insurance there are usually 2 types of policies, a Single Trip policy which will cover you for the duration of one trip, or an Annual Multi-Trip policy which will cover you for an unlimited number of eligible trips for 12 months once you take out a policy.

Travel Insurance will cover you against costs or financial losses you face should something on your trip go wrong. What is covered can change from policy to policy, insurer to insurer, so it’s important to check what costs or losses you are insured for.

As much as you won’t like us for saying this, unfortunately there is no getting away from reading the policy wording if you want to know exactly what you are and are not covered for.

Why is it important to get Travel Insurance?

Put simply, Travel Insurance will protect you should the unexpected happen. Typically, travel insurance policies will include similar items of cover including:

• Emergency Medical Expenses, should you unexpectedly need treatment whilst you are abroad
• Cancellation Cover, should your trip be cancelled due to unavoidable insured circumstances
• Baggage Cover, in case your baggage is lost or stolen on your trip

The exact levels of cover you will receive for these will vary, sometimes significantly, from company to company and policy to policy. So, you need to make sure that the amounts you are insured for meet your needs before buying any policy.

Most policies will also provide a range of policy options that can be added on to a standard policy for an extra fee (called an additional premium). These can include anything from Gadget Insurance to Winter Sports Cover or Golf Insurance and provide extra cover levels not covered on your standard policy.

By purchasing Travel Insurance, you are also giving yourself peace of mind that if something did go wrong you have cover in place so that you are not financially worse off.

What do you need to be aware of?

There are certain things won’t be covered by your Travel Insurance policy. Now this will depend on the insurer and the policies they offer but there are some things that will either not be covered or will cost you more:

• Gadgets: We all take our phones abroad with us, sometimes a laptop or tablet too, but these are not always covered in Baggage Cover, and you will possibly need to take out separate Gadget Cover to protect these items
• Drug and Alcohol Exclusions: All policies are likely to have a general exclusion that will mean any claims arising from your excessive consumption of alcohol or use of drugs will not be covered. Excessive will most likely mean if you are notably impaired, physically, or mentally. All policies will have a slightly different definition of this so make sure you understand it before your trip.
• Medical conditions: Severe medical conditions won’t be covered unless you go to a company that specialises in this area. It is super important though to declare any and all pre-existing medical conditions you have when prompted to do so as if you require treatment abroad for one of these conditions, your insurer won’t cover the costs unless they had previously agreed to when issuing the policy.
• Adventure sports, these are potentially dangerous activities and are seen as risky by insurers so it is likely you will need to pay for extra cover – each policy will provide a list of activities that are covered as standard. Anything not listed will either cost you an extra premium or will just not be covered under any circumstances.
• Travelling with the purpose of seeking medical treatment is not covered
• Travel disruptions due to Civil Unrest, War, Terrorism, or a Pandemic is unlikely to be covered as standard. This will sometimes extend to natural catastrophes too such Earthquakes or Volcanic Ash Clouds.

So, just as it is important to check what you are covered for, it is equally important to check what you are not covered for!

Things to consider when buying cover

• Do the Sums Insured meet your needs – for example, does the cancellation cover limit cover the total cost of your holiday?
• Declare ALL your pre-existing medical conditions when prompted – if you don’t and you require treatment for one of these conditions that you failed to mention when asked, then you won’t be covered and will have to cover the treatment costs yourself.
• What is the amount of Excess you are expected to pay – excess is a pre-agreed amount stated on your policy schedule of benefits that you agree to pay in the event of a claim. You need to check that you are happy for this amount to be deducted from your pay-out in the event of a successful claim.
• It’s not just about price – although a cheap policy might sound great, it might not be right for you. You may be better off spending a couple of extra quid to get the right cover rather than for the cheapest Travel Insurance!

What COVID cover is provided – although we are seemingly emerging from the pandemic, it is still worth seeing what COVID cover your policy includes in case you do happen to test positive for the virus and are unable to travel

If you're looking for Travel Insurance then why not see if InsuraTrip can offer a policy thats right for you!

Our InsuraTrip Travel Insurance policies include cover for cancellation, missed departure, lost or damaged baggage, emergency medical expenses and more. However, remember to be cautious and keep an eye on your drinking limit. If you injure yourself whilst intoxicated, your emergency medical expenses are unlikely to be covered!

To get a quote click here

*This article is for information and entertainment purposes only. It does not constitute advice in any way. The information provided here is correct at the time of writing however please check the latest policy wording for the latest terms, conditions, and exclusions.