According to recent reports, £7 million worth of luggage was lost in British airports in 2009. 5.3 million is spent each week on medical emergencies for UK travelers. It can cost up to £5,000 to cancel or curtail your trip.
Do not become a statistic.
Buy travel insurance. The small upfront fee could save you hundreds, if not thousands, of pounds, and it will certainly buy you greater peace of mind, making your stay more enjoyable. If you make multiple trips a year, annual travel insurance or multi trip travel insurance is the more convenient and often more affordable way to go.
As you are shopping for travel insurance, make sure that your insurance policy covers the following points:
Medical and health coverage for illness or injury – A simple heart attack while traveling could mean a lifetime of debt without insurance. You might also consider personal accident payments for permanent disability or death.
24 hour emergency aid – Emergencies abroad can be costly: an air ambulance from the US could cost up to £45,000. Medical emergencies oversees can be financially devastating without insurance.
Personal liability to cover possible lawsuits for injury or property damage – Accidents happen, and in our increasingly litigious culture, they can be costly. Make sure you are personally covered.
Lost or stolen possessions – Since you get to determine the limit in your policy, be sure to estimate the value of your goods accurately and realistically. If possible, list these items in advance and keep a copy at home for reference.
Changes to your travel plans – Make sure your policy will refund the full cost of your trip, especially if you need to cancel, and cover the extra costs you incur to get home if you need to cut your trip short.
Your annual travel insurance company may also offer cover for flight accidents, personal accident, legal expenses, and financial protection. Take these options into consideration as you evaluate your situation.
Check for common policy exclusions, such as alcohol or drug-related incidents, terrorism, and neglect; knowing the exclusions in advance can help you make wiser decisions later. If you might need to cancel or curtail your trip, look carefully to see if you are covered for accidents, illnesses, bad weather, possible pregnancies, jury service or court summons, and home emergency such as fire, flood or burglary.
Shop around for the best price on the right product, knowing that the cheaper policies often offer less cover, which may make initial savings irrelevant in a crisis. Be sure to consider multi trip travel insurance if you travel frequently – they will save you time and money!
In your research, look for a travel company that holds an Air Travel Organizer’s License (ATOL) or is a member of an association which offers financial protection. The more reputable the organization, the more likely they will quickly and conveniently cover your needs as they arise. Ultimately, whether you are travelling for business or for pleasure, travel insurance will ensure that you travel with peace of mind.