Travel Insurance

Do I need Travel Insurance?
If you're very rich and you don't mind paying out if an overseas trip goes disastrously wrong, then you don't need travel insurance. Most people will travel much more securely if they have it.

Selling travel insurance can be a lucrative sideline for travel agents. Often you will get cheaper / better insurance by shopping for it elsewhere. In fact, it's possible you already have quite good cover by virtue of buying your trip using your credit card. Check your credit card terms and conditions or have them sent out to you - you may find your credit card gives adequate insurance cover for your trip.

Also check whether your home contents insurance covers your possessions when you are travelling overseas. If it does, you may be able to get cheaper travel insurance by excluding your possessions from the policy.


What's covered?
Make sure you policy will cover you for the following:

· Compensation if your holiday is cancelled, interrupted or delayed for reasons outside your control.
· The costs of a medical emergency and / or flying you home if you are injured or become ill.
· Ongoing compensation if you are permanently disabled as a result of the holiday.
· Compensation if you die or are killed on holiday.
· Loss / theft of money and loss / damage / theft of your property.
· Expenses resulting from a delayed departure.
· Expenses resulting from a lost passport.
· Expenses and liability if you cause accidental injury to someone and / or damage their property.


What to look out for
Make sure your policy covers you for the items above. Also, when assessing whether the policy is good value, check the excess you are liable for if you need to make a claim. A cheap policy might be cheap because your need to pay a large excess on any claim. If you have a medical condition, make sure you declare this and have it included in the cover.


Extras
Many policies don't cover you if you are injured while taking part in a risky activity - such as parachuting, scuba diving, skiing or horse riding. If you're going on an activity holiday or could take part in an risky activity, ask your insurer about the policy - better still read your policy - and make sure your activity is covered. If it isn't you should get it added.


Annual Cover
If you travel overseas twice a year or more, it may be cheaper to buy an annual policy. Like all policies, read it. Make sure it covers everything you will be doing.


Making a claim
To claim on your insurance you need some evidence to support your claim. For example, if you lose your luggage, get confirmation in writing from the airline that this has happened. If your possessions are stolen, report it to the police and again get some sort of confirmation in writing. If you are injured and require medical treatment, keep the receipts and get the doctor to write a short report for the insurance company.

Insurance claims are always much faster processed if you have good evidence, including photographic evidence if it's appropriate.