Visit Europe!

Going back to Roman times, risks have been shared during times of tragedy and unforeseen circumstances, such as earthquakes, floods and the like. The first formal and recorded insurance company, Lloyds of London, was formed in 1769 and their founding principal remains intact today – to gather the premiums of clients as a pool of resources in order to return to clients who experience unexpected and unforeseen but covered events. So, that is the secret really, plan for the unexpected and unforeseen and make sure you are covered, especially when you are travelling. Whether your trip is a quick one or a round the world cruise, there are many good reasons for travel insurance. Here are just 7 things you should do before you buy your travel insurance:
Whatever you do, please explore the market and educate yourself with all the terms and terminologies of the travel insurance cover that will help you to avail the best travel insurance.
Certainly check what is included in your travel insurance policy but most importantly, check what is EXCLUDED from your travel insurance policy.
Research the area you are going to. What is the weather likely to be like? Is there any danger of hurricanes or tropical storms? Floods? How about Mosquito borne disease? What is the crime rate like? Whatever the perceived dangers your research uncovers then make sure that your travel insurance covers you for that eventuality. It is no good after the event to find out that you are not covered for rabid dog attacks (because there are so many in that particular area).
Discuss Your Existing Medical Conditions and Requirements – You need to carefully assess your likely medical requirements and make sure that these are declared to the travel insurance company.
If you intend to drive make sure that you are adequately covered. Many hire companies charge astronomic excesses in case of an accident. Make sure that you insured for that excess (and it will be a lot cheaper than paying the hire company’s rates for that same cover).
Make sure you have the necessary documentation for travel in that country. Take Spain for example which is part of the European community and will offer free health care say to a UK citizen on holiday or living there. There are certain conditions, one of which is that you must have a UK E111 form, if you don’t have that, you will not be treated. You must also go to a national health hospital, which are not in abundance in certain areas of Spain.
If travelling in Europe, it may pay to get a EHIC (European Health Insurance Card) as this will remove a lot of worry should you need any emergency treatment.
Okay, so there you have it. 7 things to do before buying travel insurance for the next trip you make. The other alternative of course is to not take out travel insurance, or to stay at home. Now, there’s an idea. But seriously, as always when taking out insurance, especially travel insurance, read the fine print first. Importantly, find out before you go what is excluded, not just included. So, always read the fine print. For example, accidental coverage is not provided in case of drunken driving, driving under the influence of narcotic substances etc. Exclusions are also provided for accidents during risky sports like bungee jumping, car racing, (insert for your favourite potentially dangerous sport here), scuba diving, white water rafting, flying (except as passenger in regular airliners), gliding, skiing, bike racing, diving, mountaineering, windsurfing etc. The list goes on. That means in case of accidents in these situations the insurance company is not liable to pay any amount to the insured.

When you fly off this summer on your longed-for sunshine holiday, the last thing you want to anticipate is getting ill whilst abroad, or losing all your belongings. Having adequate travel insurance will give you peace of mind that, should the untoward happen, you will be taken care of.

But the watchword is ‘adequate’. You need to make sure that your policy covers all your potential needs, so check the terms carefully for any limitations or exclusions you might not expect.

Medical – To begin with you need your policy to have a high basic medical cover – one million pounds for Europe and at least two million for the States and the rest of the world. You won’t have the luxury of our good old NHS should you have an accident in America. The medical cover should provide for an air ambulance to fly you back home if need be.

Loss of baggage and personal belongings – Be aware of any single item limit on your policy so that very expensive camera equipment wouldn’t exceed the upper limit.

Cancellation – If you have paid out thousands for a holiday and have to cancel at the last minute through some unfortunate illness, you would be glad to have a policy which would refund most of your money. The same applies if you were abroad at the time and had to rush home for an emergency.

Personal liability – This is an important one especially in the States. A policy should have a minimum cover of one million pounds in case you cause an injury to someone whilst abroad, or to their property.

Emergency help line and legal expenses – a 24-hour phone line should be available on your policy. You should also be able to claim for legal expenses.

Disputes – Your travel insurance provider should be a member of the Financial Ombudsman Service. This is the body you can make a complaint to if you have a dispute that can’t be agreed between you and your insurance company.

When you purchase travel insurance you must be completely honest about any medical conditions you or anyone else on the policy may have. This is important as otherwise you will be denied a claim relating to that condition.

Choose a policy where you are happy about paying the excess.
Don’t sign up for anything you are not sure of. Ask questions if you aren’t clear on any details, and read the small print.

Travel agents are likely to charge more for travel insurance than you would pay elsewhere, so don’t automatically buy it when booking your holiday – shop around. Travel agents are best dealing with travel, not with insurance. Currently you wouldn’t have the safety-net of the Ombudsman if there was a dispute on a policy sold by a travel agent.

You can save on the premium if your possessions are covered on your home contents insurance already. Also, if you are planning another trip later on in the year it might be more cost-effective to purchase an annual multi-trip policy rather than just the single. And don’t accidentally buy a worldwide policy if you’re just going to Europe.

If you use an EHIC card (the old E111) in Europe your policy excess may be waived if you need medical treatment.

When you start thinking about travel insurance don’t forget to check your bank account and credit cards. Some had an incentive of free travel insurance if you used the card to pay for the holiday, so you may find you are already covered. Just check it’s the right cover. And watch the wording – travel accident insurance only offers limited medical cover; it’s not the same as full travel insurance.