A policy worth having


Spending a bit of extra time to purchase your travel insurance policy might save you a lot of money and some nasty surprises. Suffering an injury in a foreign country or losing your baggage when you go on holiday could completely disrupt your plans and ruin a long awaited break. Shop around to find a policy that suits you and the type of holiday you are planning.

Never go for the cheapest travel insurance but choose that policy which satisfies your travel plans. Check the sum assured you will need to cover any equipment (such as an expensive camera) or valuables you might be taking with you; otherwise you will risk being under-insured. If this happens, any settlement made by the insurance company for a claim will be based on the insurance coverage relative to the replacement cost of the item.

As a Visa (Gold or Platinum) cardholder, one may benefit from a travel and purchase protection insurance at no additional cost. It would be wise to download a copy of the policy document from the card issuer’s website before your travels. Check the benefits and conditions of your policies.

A travel insurance policy will usually cover events such as the costs of medical care following personal injury and loss or theft of your possessions, as well as costs that you incur if your travel plans are disrupted. However, no travel insurance policy will cover you for everything that might happen on your holiday. It is therefore just as important to know what’s not covered by a policy,that is “the exclusions”, as it is to know what is covered.

Not all travel insurance policies are the same.

Some policies include 24-hour medical assistance, a help line and private hospital cover, although be careful of “special circumstances” which can apply. Other policies target younger travellers and will cover a broader range of adventure-type activities. Above all, not all policies have the same level of cover.
Shop around to find a policy that suits you and the type of holiday you are planning and never go for the cheapest policy. Ask any questions which you consider necessary to understand the policy.

Last updated: Sep 07, 2016