Send travel worries packing by comparing travel insurance
Compare travel insurance with MoneyHub. Find the cheapest holiday insurance for you. Ready, jet-set, go!
MoneyHub experts say:
“If you’ve booked a holiday but not got travel insurance yet, DO IT NOW, DON’T DELAY. Half travel insurance’s value is protecting you BEFORE travelling if something happens. It stops you from going, in addition to covering once you are on holiday, though sadly, no policy covers every scenario, so compare our top-pick travel insurance policies. Also, ask your bank or credit card provider whether you are covered for your upcoming travel.”
Travel Insurance FAQs
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The aim of travel insurance is to cover the cost of the unforeseen, such as illness and injury or theft of your stuff while you’re away.
It’s also designed to cover you if you have to cancel your trip before you go, or if you need to return early due to an emergency.
However, it’s not designed to cover every eventuality, loss, or inconvenience you experience while on holiday. Read this guide carefully so you know what is (and isn’t) covered.
Sadly not all travel insurance is created equally, but you should expect an insurer to pay out for most of the below.
However, the exact level of coverage will vary by policy – so always check the terms carefully before you buy.
There are several different types of insurance, they mostly differ in terms of the length of the policy, who’s covered by it, and where you’re covered. For example, you can choose between:
- Single-trip travel insurance. This covers you from the point you buy insurance to the day you come home from the specific trip you’re insured for.
- Annual multi-trip travel insurance. This covers all trips taken during the period of time the policy covers.
You can also get travel insurance to cover different people:
- Family travel insurance. Generally covers parents, and children who live with them.
- Couples travel insurance. Covers the two named policyholders.
- Individual travel insurance. Just covers the person named on the policy.
And your final decision is where you want the travel insurance to cover:
- European travel insurance. Does as it says, but insurers’ definitions of ‘Europe’ vary, so do check
- Worldwide travel insurance. You’ll often have to choose to include or exclude North America from the policy (medical costs are often high in the USA, so you may pay extra for cover if you’re travelling there.
An excess is the amount you have to pay towards any claim you make. For example, if you cancel a trip and are entitled to €3,000 back from your insurer but have a €100 excess, you will only receive €2,900.
However, the excess amount, and if it applies per section, and if it applies per traveller, does vary from insurer to insurer.
For instance, most providers will likely expect you to pay an excess per person. So if the policy was for a couple, and the flight was cancelled – do expect to pay an excess per person.
It is also worth knowing that an excess per section could also apply. An example could be if your suitcase was nicked and your wallet was inside you could have to pay an excess on both.
If you have a group policy you may also have to pay an excess for each person for any loss that impacts your entire party, such as cancellation. It’s important to check all excesses so you know exactly what you will have to pay if you make a claim.
Hence why it is always important to check the policy cover so you know what you are getting.
If you’re going away for more than 60 consecutive days then standard travel insurance is unlikely to cover you.
Claiming on your travel insurance shouldn’t be daunting and – if you understand the terms and the excesses on your policy – you shouldn’t be in for any nasty shocks. Follow the five steps below if you do need to make a claim.
- Submit your claim as soon as possible. Contact your insurer as soon as you can. Some parts of your policy may have a short window to submit a claim and it may take a while to be processed.
- Get your insurer to accept a medical claim before you get treatment. If you need to make a medical claim – and it’s not an emergency – get your insurer to accept the claim over the phone first, before getting treatment. For example, if you sprained your ankle, call your insurer – if it accepts the claim then, you’re less likely to be faced with a rejected claim later down the line. For obvious reasons, don’t delay treatment if it’s an emergency.
- Notify the police if it’s a theft or loss. If something goes missing or is stolen when you are abroad you may need to get a crime reference number or the overseas equivalent to make a successful claim. Report the incident to the police as soon as you can – you often have to do so within 24 hours – to make sure your claim doesn’t hit the skids.
- Keep receipts. If you are claiming for lost luggage or delay, remember to keep receipts of essential items you have bought while waiting, such as food and drink. Many insurers allow you to add these expenses to a claim and may ask for receipts as proof.
- Complain if you feel your claim was unfairly rejected. If your insurance company rejects your claim, and you think it has done so wrongly, don’t take it lying down. Ask for the reasons why.