Now that cheap flights are available to us all, we are traveling to more places more often. We tend to book our holiday insurance through our local travel agent when we book the holiday.
Travel agents account for half of the insurance sold to holiday makers despite the fact that buying from them is not the most cost effective method.
Travel agents used to make so much money from selling insurance that over five years ago the Monopolies and Mergers Commission banned the practice of making discounted holidays conditional on taking out the agents travel insurance. So now you have the choice to shop around and with the internet policy cover and prices is more transparent than ever.
Now that you can buy holiday insurance anywhere from banks, post offices and on line. For people making more than one trip abroad each year it can sometimes be more cost effective to opt for an annual multi trip policy. This allows you to go away as many times as you like without having to apply for insurance each time.
Make sure you keep your documents with you on holiday as you may need to call the emergency medical assistance telephone number and quote your policy number.
When choosing your insurance you may wish to consider the following points;
- Does your policy include repatriation?
- Will you be refunded if your trip is cancelled or cut short?
- Will you be covered with 24 hour emergency assistance?
- Are you covered for all the sports you plan on taking part in?
- What is the excess on the policy for lost or stolen possessions/cash?
- Are you covered if you injure another person or damage their property and they take action against you – personal liability?
- Will your legal costs be covered if you need to claim against someone whilst on holiday?
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