Ensure Holiday Dreams Don't End Up A Nightmare
CHESTER, England, February 8, 2012 /PRNewswire/ --
- Over half of holiday makers (58 per cent) drag their heels over travel insurance
- Annual travel insurance policies often cheaper than single trip
With many Brits already booking their 2012 getaways, the count down is on for jetting off to sunny climes - but don't let it be ruined by leaving it too late to buy travel insurance, says MoneySupermarket.com.
Research from Britain's number one comparison site found over half of holidaymakers (58 per cent) delay buying cover, opting not to take out travel insurance as soon as they book their holiday. A third (30 per cent) leave it to within a month of their departure date[*] - a risky move should anything happen in the meantime that could mean cancelling a trip.
Bob Atkinson, holiday insurance expert atmoneysupermarket.com, said: "Holidays often mean precious family time, and having cover in place as soon as you book your holiday ensures real peace of mind. Cover doesn't have to break the bank - a single trip policy for a family of four travelling to Spain for two weeks in August can cost as little as £11.[1]
"It really should be a case of "book when you buy"! Taking out travel insurance when you book your break won't cost a penny more, yet as long as you've ensured cancellation is included, you'll be protected from the moment you book your travels. Beware though; don't assume you're automatically covered for all eventualities - when choosing a policy, it's vital to check exactly what you are getting as policies vary considerably. Imagine if you've booked a skiing trip for example, and you sustain an injury before you go - your holiday is dependent on you being in good health, yet without cancellation cover you face losing up to 100% of the value of your trip."
Holidaymakers also need to ensure their travel insurance covers them in the eventuality that their holiday is cancelled or disrupted due to their travel company collapsing - if not, they'll lose their hard earned cash.
Bob Atkinson, continued: "Taking out insurance with 'end supplier failure' is a wise move. Not only will this ensure you get a full refund if your airline or accommodation provider goes bust before you leave, it will also help to cover the cost of any arrangements you need to make if this happens while you are away, such as booking a return flight."
Families should also bear in mind the number of trips they are likely to take in one year, as its often more cost effective to buy an annual multi-trip policy; annual European cover for a family of four, for example, can cost from £26.[3] The levels of cover, particularly for medical expenses, baggage and cancellation, tend to be more generous on an annual policy too so it pays to think carefully about where you intend to travel, and when. The price of a single trip policy for a family of four travelling to the USA starts from around £28,[4] whereas, the price of an annual worldwide (including USA) multi-trip policy for a family of four starts from around £38,[5]and comes with half the excess charges than that of the single trip policy.
Bob Atkinson, concluded: "When comparing travel insurance policies, take some time to work out exactly what level of cover you need and don't let a couple of pounds now mean you are left under-insured when it really counts. Don't leave it till the last minute - taking cover out in advance won't cost you any more, yet you'll be thanking your lucky stars if the unexpected happens and your holiday has to be cancelled."
For the 30 per cent* of people who take out insurance at the last minute; it's not too late to shop around for the right level of cover for a half term getaway. Good levels of cover can be found for a family of four spending a week in the Canaries this month for around £10.[2]
MoneySupermarket.com recommends at least the following level of cover:
- £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)
Notes to editors:
* When do you organise your travel insurance?
Organise travel insurance
As soon as I book my holiday 42%
Up to six months in advance 8.5%
Up to four months in advance 7%
Up to two months in advance 12.5%
Up to one month in advance 14%
Up to two weeks in advance 10%
Up to one week in advance 6%
Based on a recent TravelSupermarket survey of 1207 respondents
[1.]Two week single trip to Spain & Canaries (6-20 August)
Family of 4
Medical
Expenses Cancellation Baggage
Provider Premium Cover Cover Cover
GBP5,000,000 GBP500 GBP500
Cheaper Travel Insurance (GBP150 GBP100 (GBP100
Best Price Single Trip Standard GBP10.90 Excess) Excess) Excess)
Recommended GBP5,000,000 GBP3,000 GBP1,500
Cover Holiday Extras (GBP150 (GBP150 (GBP150
Levels Supersaver GBP11.80 Excess) Excess) Excess)
GBP10,000,000 GBP3,000 GBP1,500
Debenhams (GBP150 (GBP100 (GBP100
Essentials Single Trip GBP11.85 Excess) Excess) Excess)
GBP10,000,000 GBP3,000 GBP1,500
Virgin Money - ms.com Exclusive (GBP150 (GBP100 (GBP100
Essentials Single Trip GBP11.95 Excess) Excess) Excess)
GBP10,000,000 GBP5,000 GBP1,500
Post Office (GBP60 (GBP60 (GBP60
Classic Single Trip GBP53.50 Excess) Excess) Excess)
Sourced by http://www.moneysupermarket.com 20.01.2012
Sourced by http://www.moneysupermarket.com 20.01.2012
[2.]Family of 4 - single trip to spain & canaries (11-18 February)
Medical Expenses Cancellation Baggage
Provider Premium Cover Cover Cover
Cheaper Travel
Insurance GBP500 GBP500
Single Trip GBP5,000,000 (GBP100 (GBP100
Best Price Standard GBP10.10 (GBP150 Excess) Excess) Excess)
Virgin Money -
Recommended ms.com Exclusive GBP3,000 GBP1,500
Cover Essentials Single GBP10,000,000 (GBP100 (GBP100
Levels Trip GBP10.15 (GBP150 Excess) Excess) Excess)
Debenhams GBP3,000 GBP1,500
Essentials Single GBP10,000,000 (GBP100 (GBP100
Trip GBP10.30 (GBP150 Excess) Excess) Excess)
GBP3,000 GBP1,500
Holiday Extras GBP5,000,000 (GBP150 (GBP150
Supersaver GBP11.00 (GBP150 Excess) Excess) Excess)
Post Office GBP5,000 GBP1,500
Classic Single GBP10,000,000 (GBP60 (GBP60
Trip GBP40.00 (GBP60 Excess) Excess) Excess)
Sourced by http://www.moneysupermarket.com 20.01.2012
[3.]Family of 4 - Annual multi-trip Europe
Medical Expenses Cancellation Baggage
Provider Premium Cover Cover Cover
Cheaper Travel
Insurance GBP500 GBP200
Annual Multi-trip GBP5,000,000 (GBP100 (GBP100
Best Price Standard GBP26.27 (GBP150 Excess) Excess) Excess)
Recommended Virgin Money - GBP3,000 GBP1,500
Cover ms.com Exclusive GBP10,000,000 (GBP100 (GBP100
Levels Annual Multi-Trip GBP36.54 (GBP150 Excess) Excess) Excess)
Debenhams GBP3,000 GBP1,500
Essentials Annual GBP10,000,000 (GBP100 (GBP100
Multi-Trip GBP36.76 (GBP150 Excess) Excess) Excess)
Protect Your GBP3,000 GBP1,500
Bubble GBP10,000,000 (GBP75 (GBP75
Standard AMT GBP43.27 (GBP75 Excess) Excess) Excess)
Post Office GBP5,000 GBP1,500
Classic Annual GBP10,000,000 (GBP60 (GBP60
Multi-Trip GBP79.04 (GBP60 Excess) Excess) Excess)
Sourced by http://www.moneysupermarket.com 20.01.2012
[4.]Family of 4 - Single trip to USA (6-20 August)
Medical Expenses Cancellation Baggage
Provider Premium Cover* Cover* Cover*
Travelinsuranceweb.com GBP500 GBP500
- ms.com exclusive GBP5,000,000 (GBP200 (GBP200
Best Price Budget Single Trip GBP28.06 (GBP200 Excess) Excess) Excess)
Recommended GBP3,000 GBP1,500
Cover Holiday Extras GBP5,000,000 (GBP150 (GBP150
Levels Supersaver GBP31.00 (GBP150 Excess) Excess) Excess)
GBP3,000 GBP1,500
Debenhams GBP10,000,000 (GBP100 (GBP100
Essentials Single Trip GBP32.30 (GBP150 Excess) Excess) Excess)
Virgin Money - ms.com
Exclusive GBP3,000 GBP1,500
Single Trip inc Winter GBP10,000,000 (GBP100 (GBP100
Sports GBP37.70 (GBP150 Excess) Excess) Excess)
GBP5,000 GBP1,500
Post Office GBP10,000,000 (GBP60 (GBP60
Classic Single Trip GBP120.00 (GBP60 Excess) Excess) Excess)
Sourced by http://www.moneysupermarket.com 20.01.2012
[5.]Family of 4 - Annual multi-trip Worldwide inc USA
Medical Expenses Cancellation Baggage
Provider Premium Cover Cover Cover
Protect Your GBP1,500 GBP1,500
Bubble GBP10,000,000 (GBP100 (GBP100
Best Price Economy AMT GBP38.83 (GBP100 Excess) Excess) Excess)
Recommended Virgin Money - GBP3,000 GBP1,500
Cover ms.com Exclusive GBP10,000,000 (GBP100 (GBP100
Levels Annual Multi-Trip GBP48.38 (GBP150 Excess) Excess) Excess)
Protect Your GBP3,000 GBP1,500
Bubble GBP10,000,000 (GBP75 (GBP75
Standard AMT GBP48.57 (GBP75 Excess) Excess) Excess)
Debenhams GBP3,000 GBP1,500
Essentials Annual GBP10,000,000 (GBP100 (GBP100
Multi-Trip GBP52.19 (GBP150 Excess) Excess) Excess)
Post Office GBP5,000 GBP1,500
Classic Annual GBP10,000,000 (GBP60 (GBP60
Multi-Trip GBP137.87 (GBP60 Excess) Excess) Excess)
Sourced by http://www.moneysupermarket.com 20.01.2012
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