Britons warned to protect travel bookings with cover
Personal insurance
15th February 2010
Many people in the UK are leaving their holiday plans for 2010 at risk by failing to protect their bookings with insurance. By securing cover when they pay for a trip, consumers are being advised by Giles Insurance Brokers Ltd to guard their investment against the potential collapse of a company or unforeseen circumstances preventing them from going overseas.
Additionally, those planning holidays this year may be interested in recent comments made by ABTA - The Travel Association spokesman Sean Tipton, who advised that the cheapest insurance products are not necessarily the best as they may not include all levels of cover required by purchasers. These, he said, "can often vary quite drastically" and he advised buyers not to be driven solely by price when selecting policies.
Both ABTA and the Association of British Insurers recommend taking out provision for up to £2 million in medical costs if visits are planned to nations such as the US, for instance, while specific arrangements may need to be made if sports such as surfing, skiing, mountain biking, scuba diving and paragliding are planned. Specialist policies can be arranged to cover watersports, winter sports and other activities, which are often graded by providers based on perceived levels of risk.
Travel guide Simonseeks reports that around 56 per cent of people in the UK are planning trips abroad in 2010 and most of these travellers will require insurance for their break. For those considering making several visits overseas this year, an annual policy may well be more cost effective, with products available for couples or families.
Issuing advice to holidaymakers, Giles Insurance group personal lines director Susan Young stated: "With more people planning to take trips abroad during 2010 than last summer and many of them choosing to plan and book them during the cold winter months, it is important that travel insurance is purchased alongside other holiday arrangements.
"Consumers are advised that the European Health Insurance Card will only provide a limited level of cover and that it is important to take out an additional policy for belongings and in case health problems require repatriation or expensive treatment that is not provided by inter-European agreements."
His comments follow a study by Sainsbury's Finance indicating that 8.9 million people aged between 16 and 64 were planning to book an overseas vacation between Christmas and the end of February, but 1.14 million did not plan to purchase travel insurance at the same time. This means that they will not be able to obtain a refund on trips that cannot be taken as a result of illness or other issues that lead to cancellation, potentially costing large sums.
In order to ensure that holidays go as smoothly as possible, consumers should ensure that all documentation is accurate and up-to-date with copies made, travel information has been given to friends or family and insurance details are easily accessible if problems arise.
Established in 1967, Giles Insurance has a dedicated personal lines team who can search the market on your behalf. It can source insurance for your motor, home (buildings and contents), travel and keys, as well as specialist policies for high-net-worth individuals.
