Five minute guide to getting covered for your holiday

Last year more than 150,000 Britons made travel insurance claims in the country, one in 4 of the worldwide total.

That is a rate of 400 claims each and every single day and highlights the importance of taking out travel insurance coverage this summer, anywhere worldwide you are heading.

TRAVEL TROUBLE

It is hardly a surprise that Spain, consisting of the Canary Islands and Balearics, creates the greatest number of travel claims, considered that it is the top location for Britons jetting overseas.

However, it also highlights the importance of buying travel insurance, even when holidaying in a familiar location.

Popular hotspots the US, France, Italy and Greece made up the rest of the top 5, according to the research from Direct Line Travel Insurance coverage. There was a sharp drop in claims from North Africa, as Britons avoided the distressed area after the dreadful terror attacks in Tunisia.

Direct Line’s head of travel insurance Tim Bishop stated by far the most common reason for making a travel insurance claim was cancellation, representing almost 40 percent of all claims. This makes it essential to secure travel insurance at the very same time that you schedule your holiday, so you are covered for any problems that emerge prior to leaving from the UK, such as death or household illness.

Bishop says: “It is shocking how many holidaymakers leave purchasing travel insurance coverage to the eleventh hour. Losing out on a vacation is bad enough, but if you have taken out extensive travel insurance coverage you will not suffer a monetary loss too.”

AT A LOSS

One in 4 claims was for a medical problem requiring medical facility treatment, which can be particularly pricey in the US, where costs quickly run into countless pounds.

Lots of Britons get the totally free European Medical insurance Card when flying to the continent, however you should still set up travel insurance coverage due to the fact that the EHIC just covers local state health care and does not use personal treatment or repatriation.

Unexpected loss of baggage and airline or travel business curtailment or hold-ups likewise created a considerable number of claims. One in eight travel insurance claims exceeded ₤ 1,000, underlining the significance of insurance coverage. Bishop adds: “You can unwind in the knowledge that you are covered needs to anything unanticipated occur.”

GET COVERED

You should constantly shop around for the right offer, instead of getting the first policy you are used by your bank, travel company or insurer. Emma Morris, spokeswoman at vacation comparison website TravelSupermarket.com, states the very best worth policy for 7 days’ travel cover for a household of four to Spain this week costs simply ₤ 13.86 from InsureFor.com: “This compares to a quote of ₤ 76.26 for an equivalent standard policy with the Post Office, which would cost the exact same household five times as much, an additional ₤ 62.40.”

James Bridge, assistant director of the Association of British Insurance companies, says cost is not everything and you should compare policy features carefully: “Always remember to , and not merely purchase on rate alone.”

As a rule of thumb, the Federal government backed Loan Recommendations Service says a good travel policy will offer you ₤ 1 million or more towards medical costs in Europe, increasing to at least ₤ 2 million in the United States.

It ought to also give you a minimum of ₤ 2,000 for cancellation and curtailment, with more payments for missed out on departure, delays or travel desertion, and ₤ 1,500 or more luggage cover.

Lastly, you require around ₤ 2 million of individual liability cover in case you are responsible to pay damages for injury to somebody else or their residential or commercial property.

If you have already reserved your journey, make sure you have it covered, to alleviate the pain if you never in fact make it to Spain.

Daily Express:: Personal Finance Feed

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