Travel Insurance

The Financial Conduct Authority (FCA) confirmed that over 15 million people with long term illness feel “poorly served” when it comes to having access to travel insurance. Often travel insurance companies will not serve to what they determine to be “non-standard risk”. In one instance, the regulator was informed of a nurse with breast cancer who found the cheapest cover to be £2,800 for trip to Dubai, but luckily she found a specialist provider who provided cover for £800. What did the FCA report find? In the UK, at least 15 million people have a long term health condition and this number is expected to rise to 18 million over the next 10 years. In 2017, the FCA starting working on figuring out how best to address the issue of affordable travel insurance for people with long term illnesses. Their findings led to 3 key issues being identified: Lack of […]

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With Christmas around the corner, most of us are busy planning a good vacation with friends and family. If you are one of them then do not forget to buy travel insurance for your trip. Make it a priority as it is a proactive measure to manage financial losses if anything goes wrong during and before the trip. The best way is to insure the entire trip and buy content insurance for all the valuables that you carry with you. Today, we will discuss the common mistakes travelers make when they insure expensive items while travelling and how to avoid them. Common travel insurance mistakes and ways to avoid them If statistics are to be believed, the percentage of Brits choosing travel insurance has reduced compared to last year. It is mostly due to reluctance towards paying expensive travel insurance premiums but continuing with this behaviour is certainly not advisable. […]

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UK’s leading financial services provider Thomas Cook announces pay-as-you-go travel insurance and a multiple currency card to facilitate the travelers. This is a wonderful opportunity for frequent travelers that need travel insurance at very short notice. Christened Roam, the holiday insurance cover can be activated through a smart phone app. The company named the prepaid travel card, Lyk, which will be in partnership with MasterCard. The best part is that the currency card would allow traveler to switch between ten different currencies without paying commission or transaction charges. It will come in the market during the New Year and would be initially advertised online. The global financial company plans to refurbish its existing plans and make it available through a smart phone app. They are in plans to apply the same method for credit cards and saving accounts. The revamped financial products would fall into a new division called Thomas […]

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Who doesn’t love to go on a cruise holiday amidst the sea with many adventures and places to explore? But, there is a loophole in this which can actually put you in big trouble if you fall ill or have to cancel the trip. Therefore, one should check their travel insurance cover to verify if it covers them in all situations. According to a recent survey, it was discovered that only 35% of single and 40% of annual travel insurance policies offer cruise cover as a standard. This means only one third of the policies ensure that you are covered when on a cruise while the rest would want you to pay expensive medical and repatriation costs in adverse circumstances. Moreover, 50% of those policies which cover the cruise may not offer you payouts if they are not informed about the cruise in advance or if you have missed out […]

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Many of us choose single trip or annual travel insurance to make sure our holidays are hassle free and we can at least recover the losses if anything goes against our planning. However, a big number of travel policy holders are not aware of the fact that their travel insurance policy does not cover many portions of the trip as that needs to be covered as an add-on or needs separate cover in some cases. Popular travel insurance providers discard certain parts of the travel if they fall under the exclusions mentioned in the small print of the policy. Therefore, it becomes of the utmost important for the policyholder to read the small print and verify that their trip is covered fully so to avoid getting shocked when faced with a situation that needs shelling out hundreds of pounds. In addition, one should never consider that one policy is the […]

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One of the best quotes about travelling is that “Travelling first leaves you speechless and then turns you into a storyteller”. It is a one liner that describes the depth of wisdom you get on becoming a traveller. Again, it’s rightly said that travel teaches you more than anything else in life and travellers have experienced the truth behind these sayings. However, there are a couple of myths about travel that keeps people away from globetrotting. Today, let us learn a bit more about what stops people from travelling and check whether these fears are actually founded. There are many travellers and bloggers who have busted the myths surrounding travels. If some of these myths exist in your mind and you too are postponing your travels due to any of these reasons then it’s time for a revelation. Talking about best travellers in the world, one of the names that […]

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One of the biggest shocks in the travel industry came with the closing down of cruising giant All Leisure Holidays. The company has left 400 people stranded abroad and cancelled 7,000 holidays leaving the British public highly disappointed. However, those affected should note that the company is ATOL protected which means that customers would be refunded for the cancellation of the trip even when the travel company stops trading. There are 13,000 people who have bookings with the giant cruise holiday maker. The shutdown of the company has resulted in 150 people being unemployed and damaged the reputation of its branded cruise lines Swan Hellenic and Voyages of Discovery. The Civil Aviation Authority (CAA) has been confirmed to sort out the matter. The 400 people stranded abroad are being flown back after All Leisure Holidays stopped trading abruptly. Around 60 people who booked back to back cruises were the hardest […]

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