Although travel insurance is not a legal requirement, it recommended that everyone should take out travel insurance when going abroad, be it a long beach holiday or a quick weekend break. Travel insurance provides cover for a number of unfortunate situations an individual may encounter whilst on holiday such as:
- Medical expenses
- Luggage, passport and money loss or theft
- Having to cut a holiday short
Although an Ehic (European Health Insurance Card) will cover most medical expenses if you have an accident or are taken ill whilst on holiday in the EU, it is not comprehensive enough to be used by itself. Indeed, it may not cover all of the medical expenses that you may incur and it will certainly not cover you if your luggage becomes lost or stolen. An Ehic should be complemented with a decent travel insurance policy.
Similarly, many people do not bother with travel insurance because their personal items are covered by their house contents insurance. While this may be the case, it is important to remember that if you do have to make a claim whilst on holiday, this claim can significantly increase your premium when you come to renew the policy.
Types of Travel Insurance
In general, travel insurance comes in two varieties: single trip and multi-trip (sometimes called annual). Most people purchase single trip travel insurance which covers them for the duration of their holiday. However, those who travel out of the country more than twice a year are likely to find it more economical and less hassle to take out an annual or multi-trip policy. Usually, annual travel insurance will cover you for an unlimited amount of trips within a 365 day period. However, do make a note that a number of multi-trip policies cap the amount of days abroad in a single trip.
If you are going skiing or snowboarding, regular travel insurance is not enough as you are putting yourself at considerably more risk both physically and financially as winter sport equipment can be very expensive. Therefore, you will need to take out a winter sports travel insurance policy.
Where to Buy
As travel insurance is such an important and common insurance policy, it is available from a number of vendors. On the highstreet, you can purchase travel insurance from virtually all travel agents and banks. Travel insurance can also be easily bought online from a number of general insurance companies as well as companies that focus solely on travel insurance. In order to make sure that you are getting the best deal for you travel insurance it is always a good idea to check out the travel insurance price comparison websites. At the same time, it is important that when you compare travel insurance policies that you take into account what each policy covers as sometimes the cheapest policy may not be the best policy for you.