There are many vendors who would try and convince you that going abroad without traveler's insurance is downright foolish. However, most people going on vacation have already invested enough in their travel costs that they generally overlook extra costs they consider frivolous, at best.
Understanding Travel InsuranceTravel Insurance is important to understand, since like health insurance coverage, the customer may be refused coverage. Many insurance companies will offer a surplus of coverage for individuals and families. The company will consider few aspects of the policyholder, by reviewing the risk factors involved. If the policyholder is a high-risk the company may cover the holder, but the premiums will be higher than standard in most instances. Travel Insurance on the other hand, can refuse customers if they pose a high-risk.
Travel Insurance Tipsby UK Insurance Index
It's often an after thought when booking a trip but good Travel Insurance can be a life saver if things go wrong, especially if you're thousands of miles away from home.
At the very least a good travel insurance policy buys you a little extra peace of mind. Or is it a false sense of security? With travel insurance companies estimating that up to 10% of claims are fraudulent, how can you be sure that any legitimate claim you make gets paid?
TIP 1 - Take a good look before you buy
Many disputes arise because people think they're covered but discover too late that they're never were.
So before you simply opt for the cheapest premium, take a closer look and check that you're comparing like with like. In particular, be sure to look at:
*The excess: confirm how much of any claim you would have to pay. If the excess is £50 per item that means you have to pay the first £50 of any claim for each item you are claiming for.
A comprehensive list of insurers can be found in the Travel Insurance Index.
TIP 2 - Take a copy policy document with you
TIP 3 - Disclose any medical conditions
When completing the application form, be open and honest about your medical history and any activities you're likely to take part in, whether you think they're risky or not. If in doubt declare it anyway and if possible keep a copy of the form.
TIP 4 - Document your valuable possessions
TIP 5 - Report thefts or losses immediately
If your bag is lost, stolen or damaged at the airport, report it immediately and get a receipt from the airline or baggage handler.
TIP 6 - Be prepared for medical claims
Before you leave check your policy document or contact the insurer to confirm what precise steps your insurance company requires you to take in a medical emergency.
TIP 7 - When you get home
Makes sure you keep copies all correspondence and make detailed records of every phone call, including the name of the person you spoke with and the time of your call.
TIP 8 - If your claim is refused?
The first step is to appeal against the decision providing detailed and specific points for your arguement backed up by any additional evidence. If you feel you have been poorly treated you can refer your case to the Financial Ombudsman Service who will assess your claim independently.
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