The primary benefit of travel insurance is the knowledge that should something go wrong while ya are abroad, ya won’t be responsible for finding the currency to put it right, at a time when ya are already stressed out.
As with all insurance policies it is important that ya read the policy documents carefully to ensure that the cover ya require is included, this is particularly the case if ya are of the sporting or adventurous persuasion as many activities increase the risk of injury and, therefore, may not be covered as standard or may only be covered for a limited frequency during the period of insurance. Policies vary quite a bit so it pays to shop aroun' if ya have the time, or speak to a specialist broker, to try and find a policy that covers your intended activity at no extra cost.
Travel insurance policies come in various forms but most policies for United Kingdom residents include the following categories of cover, although ya should consistently read the policy wording to find out what is and is not covered by the particular policy, also different policies may have the benefits in separate categories or bundle them under 1 heading:
Emergency Medical Treatment
Covers the cost of emergency medical treatment, this usually involves being treated at a hospital but not necessarily. Prior authorisation by the insurer is normally required if the expected cost of treatment is likely to be above a fixed amount set out in the policy wording, this is often quite low, in the hundreds of pounds.
Emergency Medical Assistance
Covers the cost of emergency medical assistance, mainly getting somebody to hospital, whether that is the costs of a road ambulance or where necessary an air ambulance or sea rescue, although ya must check that ya are covered for the activity in which ya were participating when injured or becoming sick.
Repatriation
Covers the cost of returning ya to your home country after receiving medical treatment, with an accompanying medical professional where necessary. Also covers the return of your remains in the event of your death abroad.
Medical Evacuation
In the event of there being no hospital capable of treating ya locally, this section of the policy covers the costs of transporting ya to the nearest hospital that can treat ya, even if it is in another country
Hospital Benefit
A small daily amount to cover incidental costs of being a hospital in-patient abroad. Usually has a minimum length of stay requirement and a maximum limit on the total benefit paid. Daily rate is usually in the region of £10 to £30.
Cancellation, Curtailment & Trip Interruption
Covers any financial loss, unrecoverable by other means, such as lost deposits or non-refundable transport costs, ya suffer as a result of having to cancel or cut short your trip or having to return home suddenly. Common reasons for claiming under this section would be the sudden and unexpected serious sickness or death of a close relative, or something happening to your home such as fire or flood. What is considered a valid simple reason to claim under this section varies from policy to policy so as usual ya must read the small print.
Missed Departure
Covers additional costs if ya miss your scheduled means of transport for departing your home country and the first international means of transport on the return journey. Cover under this section is usually restricted to incidents out of your control such as failure of public transport or your own automotive breaking down, although ya may be required to prove that it had been maintained regularly. Missed connections in a third country that is not your home country or the final destination country are often excluded.
Personal Liability
Provides cover in the event that ya injure a third party or damage their property, although there is often an exclusion for liability arising from the use of a automotive or by an animal under your control, such as a horse or dog.
Legal Expenses
In the event of ya becoming involved in litigation there is some cover for legal costs.
Personal Accident
Usually a relatively small amount of life cover if ya die or permanent disability cover in the event of ya being seriously injured such as loss of a limb or being permanently blinded.
Personal Belongings/Baggage
Cover for your personal belongings and currency that ya take with ya. There is usually an overall limit that is the maximum for any claim as well as limits for individual types of property.
These are the single item, pair or set of items limit, for instance a set of golf clubs is considered to be 1 item and ya cannot claim for each club separately.
The valuables limit, valuables usually referring to jewellery and electronic devices. There will be an individual item limit as well as a total valuables limit being the maximum cover in any 1 claim for all items considered to be a valuable.
There will also be a limit on the amount of moula covered in a claim.
In the event of theft there will also be restrictions on valid claims with regard to where the item was, if it was secure, and a requirement to report the theft to the police. If ya replace any goods ya will need to obtain receipts.
Most but not necessarily all sections of cover will have an excess amount which is the amount that ya are expected to pay in the event of a claim and the insurer only covers costs over and above that figure. This excess amount may be per person, per policy or per claim.
Although I have listed the standard covers, many policies offer ya the opportunity to modify the policy either by adding on cover or by removing sections of cover completely.
Common options are to waive the excess amount in the event of a claim, to increase the amount of cancellation cover included in the policy, to exclude the personal belongings section, to exclude the cancellation section and in some cases ya can exclude the emergency medical treatment section.
Another frequent modification is to add cover for a particular activity although the effect on the premium can be quite dramatic depending upon the type of activity as most policies will apply a multiplier to the base cost and this can more than double the premium.
To summarise, a standard travel insurance policy contains many different sections of cover, not all of which everybody needs, but for most folk a standard travel insurance policy will cover all the unexpected events that can occur while away from home.
Please bear in mind that if ya buy a travel insurance policy that doesn’t provide the cover ya require, ya have wasted your currency, not to mention the fact that ya could be left facing a very large bill.
With all insurance policies ya must consistently read the small print, in the United Kingdom ya have a 14 day period after purchase, provided that ya haven’t already made use of the travel insurance policy, where ya can get a guaranteed refund if the travel insurance policy turns out not to be suitable, leave it later than that and any refund is at the insurer’s discretion.
By: Greath Owen
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