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Home or away - make sure you’re insured this Bank Holiday

20th May 2014 Print

Families taking advantage of the bank holiday or jetting off for a half term getaway should check the levels of cover offered by their travel insurance, and not just opt for the cheapest policy available, warns MoneySuperMarket.
 
Cost versus cover
 
Analysis from the comparison site shows those who opt for the cheapest level of cover available could be at risk of considerably underinsuring themselves. For example, a family of four can cover themselves for a fortnight’s holiday in Europe for £8.48 from OUL Direct – this policy offers £750 worth of cancellation cover, however, ensure you read the policy details carefully as you would have to pay the first £250 worth of any claim relating to cancellation, substantially reducing the benefit of claiming.
 
For £17.00, the same family can secure £3,000 of cancellation cover, with a much lower excess fee of £100, from an insurer such as CoverForYou. That same policy would also provide £15m of medical expenses cover and £1,500 of baggage cover, compared to £10m and £500 respectively with the cheaper policy.

Home or away – ensure you are covered
 
With the sun shining across the country this weekend, many will decide to ditch the airport crowds and spend Bank holiday and half term ‘staycationing’ in the UK, however, it is still vital to check you have sufficient cover in place. Most European and Worldwide travel insurance policies include the UK but take a few minutes to read through the policy details to confirm this. Typically a UK holiday stay must be somewhere at least 25 miles away from your home and you often have to be staying away for a minimum of two nights, and if in any doubt give your insurer a ring to clarify.
 
Bob Atkinson, travel expert at MoneySuperMarket.com, said: “A good all round travel policy is as important as finding the best flights to suit your holiday needs and is something that should be bought as soon as you have booked your getaway, rather than a last minute purchase on the way to the airport. Planning in advance is crucial to ensure you benefit from cancellation cover during the time leading up to your trip – cover which is often forgotten about by travellers. Ensure you have comprehensive levels of cover including End Supplier Failure for those who book their own trips as opposed to going on ATOL backed packages.
 
“Be sure to take a short amount of time to read the small print of the policy to ensure you choose the right deal. A good policy will offer the adequate levels of cover for your needs, and give you the benefit of low excess fees.
 
“In addition to suitable travel insurance, holiday-makers staying within the EEA (European Economic Area) should also make sure they have a valid European Health Insurance Card (EHIC).This gives access to state healthcare at a reduced cost or in some instances for free. Each person travelling will need to have their own card in order to be covered, however this is designed to be used alongside an insurance policy – definitely not as a replacement.”

£2m for medical expenses
£1m personal liability
£3000 cancellation - or enough to cover the total cost of your holiday
£1500 baggage
£250 for cash
Policy excesses under £100
Cover for scheduled airline failure and end supplier failure as desirable
Delay cover (e.g. £20/hour for first 12 hours)
 
Motor breakdown
 
To avoid being stranded at the roadside watching other holidaymakers go by, those travelling by car to reach their holiday destination should check they have adequate breakdown cover in place. Breakdown cover with onward travel will ensure that the driver and any passengers still make it to their journey’s end even if their car fails. UK cover can cost less than £30 for an annual policy with The Green Insurance Company and will ensure that no one misses out on the holiday fun.