Cheap Travel Insurance Always Read The Small Print

AllCreal Travel Insurance is warning holidaymakers over buying cheap travel insurance without reading the small print. According to AllClear, 41% of travellers admit to prioritising cost when selecting travel insurance policies.

Some 41% of travellers admit to buying travel insurance on price without necessarily checking what their policy covers, according to a new survey from AllClear Options – the comparison website for specialist medical travel insurance.

Only just over a quarter (28%) said that their decision was mostly affected by the amount of medical cover provided, even though bills for medical care abroad can run into tens of thousands of pounds.

When shopping for policies, travellers should look beyond price and pay close attention to what they are actually covered for, says Mike Rutherford, Chairman of AllClear: “While cheaper priced policies may seem attractive to cash-strapped holidaymakers, it can be a false economy. Travellers should check the cover levels and the excesses they may be required to pay in the event of a claim. They should also check the maximum payout for cancellation, as they may find that their holiday price is more expensive than the standard payout offered in their policy.

‘Always Read The Small Print On Travel insurance’

“Travellers should pay particular attention to the medical emergency small print. If a traveller’s medical condition is not declared on their policy, then their cover could be invalidated if they fall ill with the condition abroad. This could work out very expensive – a claim for emergency medical care in some parts of Europe can easily be £20,000 to £40,000, and repatriation with an air ambulance from the USA could be £80,000 to £100,000,” Mike explains.

AllClear commissioned the ICM survey of more than 2,000 adults to find out what factors travellers take into account when shopping around for travel insurance. More than half (52%) of travellers aged between 35 and 44 said that price was the most important factor affecting their decision on what policy to buy.

Mike advises factoring in the cost of travel insurance from the very start when booking a holiday: “That way, you have the freedom to shop around for insurance that is tailored to your needs, enabling you to travel with complete peace of mind.”

He also warns against the pitfalls of taking advantage of insurance offers: “If your bank or credit company offers you a package that includes travel insurance, be sure to check the age limits and if your medical conditions are covered, to avoid this supposedly cost-effective insurance potentially being of no use to you at the critical moment.

“Thankfully, incoming government legislation that will oblige insurance companies to be more explicit about the age limits of their cover, and to signpost people to another provider who can meet their needs if they’re unable to cover them, should be good news for travellers and help you to understand exactly what you’re paying for with your policy.”