How to Check your Cover
1.4 million of us make a claim on our travel insurance every year,
but just 35 per cent are paid in full. Find out why…
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On holiday, as in every other part of life, things go wrong and
accidents happen. While many people do have travel insurance, when
they come to make a claim it turns out that they’re not as
well covered as they thought.
Research by Sainsbury’s Bank found that one in three holidaymakers
experience some sort of disaster while on holiday. 11% said they
needed medical treatment, 8% had their luggage lost, 6% had to cancel
or cut short their breaks due to unforeseen circumstances and 5%
had money stolen.
Who didn’t get their money back?
The Sainsbury’s research discovered that only 35 per cent
of those who made a claim on their travel insurance had all the
losses they were claiming for refunded. 11% of claims were only
partly paid, while 7% were rejected. More worryingly, 18% of those
questioned admitted they had no insurance at all.
Why are claims rejected?
In a nutshell, most claims are rejected because the cover purchased
doesn’t cover the losses that are being claimed. Cover provided
by credit cards, for example, can be insufficient if you lose a
high amount of money or your passport.
Before you go, you need to check you are covered for:
A suitable amount that reflects how much cash you are taking
Enough medical cover in case of an accident
Any potentially hazardous activities, such as mountain biking or
diving, you plan to pursue
Curtailment or cancellation of your holiday in the event of an emergency
Older people, those travelling with children and people who have
a medical condition should also check carefully what their policy
covers them for.
Don't forget to keep any receipts in case you need to make a claim.
Your insurer will ask to see them.
As always, shop around for the cheapest but also the most comprehensive
cover available for your needs. Unfortunately not having enough
cover can sometimes turn out to be almost as bad as not having any.
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