Travel Insurance should be compulsory

Travel Insurance should be compulsory

 

There is nothing more rewarding or relaxing than spending two weeks on holiday with your partner, spouse or family. It makes all those extra hours working worthwhile, to know that you are going to spend quality time with your loved ones.

I am one of those people that takes a few days to snap out of my work day routine and to properly relax. My family always comment on it, but every holiday I have been on with my loved ones, has been a joy. I guess I am very lucky, my children and my wife are great fun to be with. We rarely argue about anything, just happy to go with the flow and do what ever takes our fancy. From lounging by the pool, to hiking coastal paths, or experiencing the local cuisine.

I find it very hard therefore to understand, why anyone would want to try and sabotage, such lifetime experiences, by not taking out travel insurance. We all venture to foreign countries, not expecting anything untoward to happen (maybe an hour or two flight delay is normal!), but that is the reason any sensible person takes out insurance in the first place, to protect against the unexpected.

I have read astounding figures, that 4 in 10 holidaymakers venture abroad without any or the correct travel insurance. I could not fathom spending several thousand pounds on a wonderful experience, and not spend maybe another fifty or one hundred pounds on insuring that experience, doesn’t leave me in a large financial hole.

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Not only is it irresponsible, but it is completely selfish, especially if you are endangering other people, including your own family. Imagine if one of your children suffered an injury and you didn’t have travel insurance. You couldn’t afford the best treatment, you couldn’t afford to get them home again. How would you live with yourself?

Cost just isn’t an excuse. There are so many different providers to choose from. You can visit many different comparison websites or visit the travel insurer website direct. This large amount of competition keeps the price of cover down. In fact I would be surprised if travel insurance is actually profitable, once claims, management expenses and commission plus Insurance Premium tax has been removed.

You could be forgiven for not understanding travel insurance. It is undoubtedly a complicated product. There are so many different sections and types of cover.

On the flip side there is a wealth of information on the internet explaining the different types of cover, expert ratings, and customer reviews. Sorting through the crap, does take a bit of time, but knowing what you need and the amount you need to cover does help the situation. Some policies offer high sums insured and to cover everything, but the premiums are a bit high, others offer little cover and have some heavy exclusions, but the premiums are very cheap. It is definitely a balancing act between cost and cover.

The other area which can be a problem is where you suffer from a pre-existing medical condition. If you suffer or suffered from an illness or disease, you have a duty to tell the Insurer about it. Maybe you feel embarrassed to talk to an anonymous person about your condition and so don’t bother declaring it.

The good news is that there are many insurance companies who allow you to include conditions online, without the need to speak to anyone. Their quotation systems are geared up to asking you relevant questions connected to your condition and you can walk away fully covered, without ever having spoken to anyone.

When you go on holiday, do everyone a service and, insure yourself and your family against the unforeseen. If you don’t I would be in favour of making travel insurance a compulsory purchase.

 



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