Travel Insurance Cover: The most important thing in your suitcase

As summer arrives and millions of us prepare to head overseas, it’s worth taking a few minutes to make sure you have the right travel insurance cover in place. While most holidays go exactly to plan, it’s the unexpected events that travel insurance is designed for.

A medical emergency in the USA could leave you facing a bill running into tens or even hundreds of thousands of pounds. A cancelled holiday could cost your family thousands before you’ve even packed a suitcase.

Yet many travellers still treat travel insurance as an afterthought.

What Could Possibly Go Wrong?

Most trips abroad are trouble free. We all expect to return home with our luggage, our health and plenty of holiday memories.

Unfortunately, things don’t always go to plan.

A family emergency could force you to cancel before you’ve even left home. A delayed flight could cause you to miss a connection and leave you paying for alternative travel. Your luggage could go missing, your passport could be stolen, or you could require medical treatment while abroad.

These situations may be relatively uncommon, but when they happen the costs  could be significant.

That’s where appropriate travel insurance can make all the difference.

The Biggest Travel Insurance Mistake

One of the most common mistakes is waiting until just before departure to arrange cover.

Many people assume travel insurance only matters once they’re abroad. In reality, some of the most valuable protection starts from the moment you buy the policy.

If illness, injury, redundancy or a family emergency prevents you from travelling, cancellation cover  could help recover the costs you’ve already paid. But only if the insurance was in place when the problem arose.

For that reason alone, it’s usually prudent to arrange travel insurance as soon as the holiday is booked.

Eight Travel Insurance Checks Before You Fly

 1. Buy cover as soon as you book

Don’t wait until the week before departure. Cancellation cover starts from the date the policy begins.

2. Match the policy to your destination

Medical costs vary enormously around the world. Cover for Europe is very different from cover that includes the USA, Canada or the Caribbean.

3. Declare all medical conditions

Failing to disclose a pre-existing condition is one of the most common reasons for claims being declined.

4. Check the medical cover limit

 Look for policies that offer an appropriately high level of medical cover, including repatriation to the UK

5. Review your cancellation cover

Make sure the policy covers the full cost of your holiday, not just part of it.

6. Understand the excess

A low premium can sometimes hide a high excess, reducing the value of any claim.

7. Check baggage and gadget limits

Pay particular attention if you’re travelling with phones, laptops, cameras or expensive items.

8. Read the exclusions

It’s not exciting, but understanding what isn’t covered can save a lot of frustration later.

Travel With Confidence

Travel insurance isn’t the most exciting part of planning a holiday, but it can be one of the most important.

The most appropriate policy can help protect your finances, provide valuable support when things go wrong and give you peace of mind while you’re away.

If you’d like help reviewing your protection arrangements or discussing any aspect of your financial planning, please get in touch with your Continuum adviser.

This article is intended for general guidance only and is based on the opinion of Continuum it does not constitute financial advice. Individual circumstances vary, and you should consider seeking advice from a regulated financial adviser before making any financial decisions.

You should refer to policy documentation and seek advice in order to understand what the policy does and does not cover before making an application.