Most people buy their travel insurance as soon as they’ve booked their flights / hotel / holiday, as they will usually be covered for cancellations, but there are some people who prefer to leave buying their insurance until the last minute so they can get the cheapest possible premium. What do you think is best, and why bother with Travel Insurance at all? Let’s chat with Beth Macer, Travel Insurance Expert.
Samantha- What made you become so interested in travel insurance?
Beth Macer- I’ve always been interested in travel, different countries and cultures and I spent a gap year traveling and working abroad. The type of cover offered by Payingtoomuch.com is specifically designed to cover those people in the UK with pre-existing medical conditions and I have always been interested in the medical side of things, having previously worked for a medical supply company, so when I had a chance to put the two together, it seemed like the perfect job opportunity to interest me.
S- What is the most common reason people need travel insurance?
B- Travel insurance is designed to protect you against a variety of eventualities, such as loss / theft of personal possessions, holiday cancellation and public liability costs amongst other things, however the most common reason people need insurance is for medical expenses and repatriation. A travel insurance policy is most commonly designed to cover the cost of emergency medical treatment abroad in the event of something unexpected occurring – something which can be very costly!
S- Is travel insurance like homeowners insurance, where they pay only a fraction of what it will actually cost to replace/cancel, or does it fully cover losses and accidents?
B- All travel insurers have different cover levels / policy limits for each section of cover, for example a standard UK insurer will cover £2000 baggage / personal possessions and £5000 cancellation / curtailment. The level of cover is designed to pay you back fully, for any losses or cancellation costs (that are irrecoverable elsewhere), provided that the value you have paid for you holiday etc. is within the limits set by the insurer. With travel insurance there are different levels of cover available, so it is important to make sure you purchase a policy with enough cover to protect your needs.
S- Are there different types of insurance? If so, what do you recommend purchasing?
B-There are different policies available, depending on what it is exactly that you want to insure. Some policies will only cover emergency medical expenses, with no baggage or cancellation cover, which is great for people traveling last minute to a family holiday home, as they are then not paying for something they may not need. However this type of policy may not be suitable for people taking a 3 week cruise or all inclusive holiday packages which have been booked in advance – in this instance they may need cancellation cover in case they can’t travel, or a policy to cover travel delays if they miss a flight.
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