annual travel insurance
28 October 2011
Autumn half term holidays are here and many families will be looking to get away to catch the late summer sun.
If you are planning to get away during the school half term then you may want to consider the level of protection you have on your travel insurance policy for you and your family.
Features to ensure you have a good school half term getaway
We have highlighted some features worth considering when choosing an annual trip travel insurance policy:
- cancellation of your holiday
- loss or damage of your luggage
- cover for your money
One feature certainly worth checking is protection against the cancellation of your holiday due to you or one of your family members becoming ill, being injured or passing away. This feature will help cover the costs of your holiday lost due to the cancellation.
Our data shows that 23% of annual trip travel insurance policies provide up to £3,000 to cover the costs for your holiday being cancelled, while 47% of products will offer up to £5,000 worth of protection.
Another feature to look out for on your travel insurance policy before you go on your half term holiday is cover for the loss or damage of your luggage.
Our data shows that 38% of travel insurance policies will provide up to £1,500 to cover your baggage, while 36% of products offer between £2,000 and £2,500.
Cover for money that you take away on half term holiday with you is another feature to consider on your annual trip travel insurance policy.
Our data shows that 22% of annual trip travel insurance policies provide up to £200 to cover any lost or stolen money, while 7% of products will offer up to £500.
However, in order to claim you will need to prove that the cash was stored in a locked safe, if it disappears from an apartment or hotel room. Your insurer will also require you to report the loss or theft of your money directly to the police in order to receive a crime reference number. You’ll usually have to do this within 24 hours of the theft occurring.
These are a few key features to consider in order to give you peace of mind while you are away on half term holiday. If you are going away during school half term, then why not use our Star Ratings tool to help you find a product with the right level of coverage for you?
19 August 2011
25% of claims on travel insurance policies are rejected because holidaymakers have the wrong travel protection, according to research carried out by Sainsbury’s.
Their findings show that holidaymakers claim around £20 million each year on their travel insurance policies for lost or stolen possessions and money. However, many holidaymakers have inadequate travel protection to cover their belongings.
Before going overseas it is always worth checking your travel insurance policy to ensure you have the level of cover you need, particularly when it comes to protecting your money and personal possessions.
How your travel insurance policy can protect you
There are many features that can be included in annual trip travel insurance policies, and a varying level of coverage too. We have highlighted a couple of essential features that you should check your travel insurance policy for in order to ensure you have adequate cover:
Travel money: Our data shows that more than 93% of annual trip travel insurance policies provide protection for your money being lost or stolen.
20% of annual trip travel insurance policies will give a maximum of £250 for cash or travellers cheques that are lost or stolen.
Cover for loss of passport: Another key item for any holidaymaker alongside their ticket is their passport, so it is important to review the travel protection you have in case your passport is lost, stolen or destroyed.
40% of annual trip travel insurance policies offer between £200 and £350 to cover the costs of replacing your passport abroad. Our data shows that some providers even reimburse you for the costs of accommodation, travel and communications during the time it takes you to get an emergency replacement passport.
Before jetting off on your holiday, review your travel insurance policy. Why not use our simple annual travel comparison tool, so you can sit on the beach with the peace of mind that you have the right travel protection.
04 August 2011
More than 12,000 British holiday makers have been stranded abroad as travel firm Holidays 4U has gone into administration.
The Brighton based company also traded alongside Aegean Flights and sold packaged holidays and flights to Turkey.
The Civil Aviation Authority (CAA) has vowed to ensure that all stranded holiday makers return home safely, and have warned customers of Holidays 4 U due to fly abroad not to travel to the airport.
Holidays 4U are one of many small holiday firms to go into administration since the recession started and it is believed that some other companies could follow.
How can holiday makers get their money back if a travel company goes into administration?
If you have booked a packaged holiday, you will need to check with your travel agent or company directly to check if they are covered by the Air Travel Organisers’ Licensing (ATOL) protection scheme.
This scheme will ensure that you will not be stranded overseas if your travel company goes into administration and that, if you are about to travel, that you receive a refund.
Having the right level of travel insurance can also help you to reclaim the cost of your holiday, which is easier to do than applying for a refund through the CAA.
The holiday abandonment feature will protect you if your holiday is cancelled due to a disruption.
49% of annual trip travel insurance policies will pay out £5,000 or more to cover the cost of your holiday if it is curtailed or cancelled due to a tour operator going into administration.
If your holiday is not packaged then your travel insurance could help you recover some of the losses through the scheduled airline failure feature. This feature covers each insured person if the company goes into administration prior to departure or while you are on holiday.
Our data shows that 49% of annual trip travel insurance policies offer this feature as standard. From those products, 27% of policies offer £5,000 to cover your costs.
If you want to check if your travel insurance is up to scratch, then you can compare annual travel insurance policies with each other using our simple comparison tool.
02 August 2011
More than 50% of a woman’s holiday wardrobe never leaves their suitcase while they are away on holiday, according to a survey carried out by The Co-operative Insurance.
The average British female holidaymaker takes 44 items of clothing abroad when going on holiday, ranging from tops and shorts to skirts and bikinis.
These beach fashion items on average cost a staggering £1,140 and it would be extremely costly to replace your holiday wardrobe if your baggage was lost or damaged. However, your travel insurance could rescue you.
If your baggage was lost or damaged, a majority (81%) of annual trip travel insurance policies would offer cover between £1,000 and £2,500.
Before travelling overseas, you should check the terms and conditions on your travel insurance policy to determine how your provider defines a valuable item and what the maximum sum it pays out is.
Our data shows that 62% of annual trip travel insurance policies have a single valuable item limit of between £250 and £500.
After packing all the delights of your holiday wardrobe in your suitcase, you may want to check if your travel insurance is up to scratch. You can compare annual travel insurance policies with each other using our simple comparison tool.
23 June 2011: Mike Powell, Insight Analyst – General Insurance.
There are a number of issues that need to be considered when purchasing annual travel insurance. The two most important things to look for, is the definition of ‘family’ and the cover provided for ‘independent’ travel, something that customers may not be currently aware of.
We have looked into how providers define ‘family’, particularly with regards to children. Most providers offer family cover, and many customers would therefore assume that all the members of their family would be protected. This is not always true and the definition can vary. It is important therefore that customers should be aware of how a provider defines ‘family’ before purchasing any form of travel cover.
This is essential for you if your child or children does not live with you, but with their other parent. It is not uncommon for families to have children who live with the mother, and the father takes them on holiday, or vice versa. This may also be alongside step-children from a second marriage or partnership.
Most customers in this instance would sensibly take out ‘family’ cover to protect the two adults and all the children travelling. Our research shows 29% of annual travel insurance policies only protect children and step children under ‘family’ cover if they permanently reside with the policyholder. Therefore children, who normally live with the other parent, would not be insured.
50% of annual travel insurance policies will allow the insured persons on each policy to travel independently of each other. Many providers state that ‘all insured persons’ are covered, yet there may be restrictions that apply. A number of policies state that a child travelling independently must be accompanied by a relative, guardian or person with a legal duty of care, such as a school teacher.
It is essential that customers are aware of the policy conditions and definitions when they purchase their annual trip travel insurance. Always read the policy document carefully, to ensure that the cover provided meets your needs and if there is any doubt, speak to the provider.
