How to buy travel insurance that suits your individual needs?
The word holiday conjures images of exotic destinations complete with golden beaches, glorious sunshine, hours of relaxation and quality time with your partner. It should be a truly tranquil experience. It is probably the biggest investment you will make in a year and something that you will have been looking forward to for many months. The last thing that you would want is for your peace of mind to be shattered, but, in the event of untoward circumstances, it is great to know that you are covered for any eventuality. With adequate insurance in place, you can truly relax, knowing that your luggage, health and even the holiday itself are protected. Taking a trip without adequate insurance is a one-way ticket to worry and could end up ruining your precious holiday.
If you fall seriously ill abroad and need hospital treatment, the average cost is now £2,040, up 6.25% year on year, according to research by Sainsbury’s Finance.
Travel insurance: do you really need it for a European … (n.d.). Retrieved from http://www.guardian.co.uk/money/2010/sep/11/travel-insurance-european-holiday
If any of the following incidents occur, you will be glad that you have adequate cover.
- The airline decides to cancel your flight.
- Due to illness you need to cancel the trip.
- Your day pack with your passport and wallet are stolen. You need to obtain emergency cash and replace the passport.
- You have a medical emergency whilst on holiday.
- A terrorist incident occurs at your destination and you wish to cancel the trip.
Annual travel insurance can cover all these events, as well as a few of you have never considered.
Cover for medical emergencies is probably the most vital element here. Circumstances may conspire for you to miss your flight, or lose belongings, but this pales in comparison to concerns about your health. It is hard to imagine a worse situation than being stuck in a foreign country, unable to repatriate yourself and at the mercy of inadequate medical care.
The bills for certain medical emergencies, for example, an air ambulance transfer can be truly astronomical.
The most expensive country for inpatient treatment is the US, with the average hospital visit costing £6,000
Travel insurance: do you really need it for a European … (n.d.). Retrieved from http://www.guardian.co.uk/money/2010/sep/11/travel-insurance-european-holiday
If travelling in Europe a European Health Insurance Card (EHIC) will cover basic medical care, and is a requirement to validate most travel insurance. As a UK resident, the EHIC gives access to state provided medical care at a reduced cost, or sometimes for free, when travelling in EU countries. You will receive the same care as a resident of the country you are visiting. It will not cover costs for repatriations and routine monitoring of existing conditions. When engaging in dangerous sports, insurance becomes even more vital, as the likelihood of an accident is highly increased. A skiing holiday can become extremely expensive if you need rescuing from the top of the mountain.
As we become older our insurance needs change. Pensioners travel insurance can be more expensive as the risks a well involved are greater for the insurer. It is exciting to know that you can still scratch the travel itch and enjoy an active retirement. There is a host of reputable insurance brokers, like Columbus Direct, who can present a range of policies and advise on what is best for you.
Tags: cover, eu countries, Member state of the European Union, mind, Insurance
Many UK workers at ‘financial tipping point’
May 22, 2008 by admin
Filed under News, News-Credit-Cards
New research commissioned by Callcredit has revealed that 40 per cent of people in the UK would not be able to live off their savings for more than a month, rising to 53 per cent among people aged between 25 and 34-years-old.
One in four people have been forced to reduce their savings or stopped saving altogether because of the financial pressures they are facing due to the credit crunch.
Head of the credit reference agency Owen Roberts said: “Many of the UK’s workforce are at what could be described as a financial tipping point where just one unexpected unfortunate incident could have dire financial consequences.”
Mr Roberts advised people who are struggling financially to take an “active role” in sorting out their debts by reviewing their credit reports and bank statements to get a clear idea of how much they owe.
Credit Action recently warned people not to become too reliant on paying their essential household bills with credit cards.
