travel insurance

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According to findings from financial information business Defaqto, many travel insurance policies don’t add up.

For example, while the average two-week family holiday costs around £5,000, one in five travel insurance policies only pay out to the value of £1,000 in the event of cancellation, Defaqto found.

Further findings were that 15 per cent of single trip policies don’t cover missed departures and that up to 25 per cent of policies only cover £1,000 worth of lost, stolen or damaged luggage.

“Travel insurance policies vary greatly in the level of protection they offer for certain nightmare scenarios – with some policies providing very little cover at all,” commented Brian Brown, head of insight at Defaqto. “Therefore, we urge holidaymakers to check their policy carefully before jetting off and ensure they have sufficient cover for situations such as delays, lost luggage and medical emergencies to avoid more than just the holiday blues on the return home.”

Advice to travellers is to: declare pre-existing medical conditions; make sure they have cancellation cover that matches their trip; gather as much evidence as possible for a claim; check the value of their suitcase matches the policy; and, when travelling to Europe, ensure they have both an EHIC and travel insurance.