Travel insurance is a must for any holiday, but failing to read the fine print could cost you thousands, an expert has warned. James Andrews, money expert at Be Clever With Your Cash, highlights six common pitfalls that could leave travellers unprotected.
1. Exceeding Trip Limits
Annual multi-trip policies are great for frequent travellers, but most cap individual trips at 31 days. Some allow as few as 17 days, posing a risk for extended cruises, long-haul holidays, or lengthy family visits. Andrews advises checking the annual limit too, which is often more generous at 180 days.
2. Not Declaring Pre-Existing Conditions
“You even need to tell your insurer about something minor like new blood pressure medication,” Andrews says. Failing to disclose such conditions could result in huge medical bills.
3. Ignoring Foreign Office Warnings
If the Foreign Office advises against travel to a destination and you go anyway, your policy will likely be invalid. “Today, it’s advising against all travel to Israel, Iran and Iraq, and all but essential travel to parts of the UAE, including Dubai. If concerned, check.”
4. Getting the Region Wrong
Ensure your policy covers your destination. A Europe-only policy won’t cover you in Florida or the Caribbean. Some European policies include Turkey, Egypt or Morocco, but others do not.
5. Free Insurance Can Fall Short
Insurance bundled with bank accounts or phone contracts may not be adequate. “Age limits are usually stricter, valuables cover lower, and rules on pre-existing conditions tighter.”
6. Everybody Must Be Named
Family multi-trip policies only cover listed individuals. “If a name isn't on the policy, they aren't covered.” This could prove costly if grandchildren, friends or relatives join at the last minute.
