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. Buying the right UK travel insurance policy saves you from bitter surprises like missing flights, delayed flights, loss of luggage and valuables, health emergencies etc.
Coming to the luggage, one of the most common mistakes made by nearly three-fourth of British travelers is to consider standard travel insurance as an all encompassing one. However, that is not the case with most policies as they do not cover your electronics and gadgets. You need to buy content insurance for them as an add-on. Therefore, the best advice is to read the small print to check all details about what is included in the policy and what is excluded.
As per industry experts, around 20% of Brits assume that they will be paid the full amount of the lost item as they have bought travel insurance. 27% of them live with an impression that the pay-out would be the cost of gadget minus the excess but that is again a myth. In fact, most UK travel insurance providers would offer payout equal to the second hand value of the gadget in case you have bought it before six months. In addition, they keep a single item limit on all items, new and old. So, be careful and discuss with your insurer about the travel insurance for valuables.
Find here, some expert tips to get the best out of travel insurance cover:
Look beyond the price tag!
The aim for the cheapest travel insurance should not be the only consideration when you plan expensive trips. On the contrary, choose a travel insurance provider that offers maximum coverage for your valuables. Ask the insurer about details of the pay-out on making claims if you lose gadgets or expensive jewellery. Check with your insurer whether you are supposed to buy separate travel insurance for expensive jewellery or not. Prod the insurer to get the maximum benefits of travel insurance cover and make the most out of the investment.
Go through terms and conditions!
Your standard travel insurance cover will not cover expensive content which might be subjected to single item limits. You need to clarify with the UK travel insurer whether you need to buy single item insurance cover for costly items like engagement ring or a really expensive camera. So, become well versed with the terms and conditions of the travel policy and buy extra cover if the need arises.
Get to know about the excess!
If you are serious about making a claim then you must be aware about the excess amount that needs to be paid. It may vary with each travel insurance cover and the kind of holiday that you are planning but, it definitely needs serious consideration. You cannot afford to lose big money while making a claim.
To sum up, do not rely on cheap travel insurance cover for your valuable items and buy content insurance wherever it’s needed. To get the cheapest deal, you need to compare travel insurance providers and zero down on the one that offers the highest pay-out for claims.
If you need professional help to compare travel insurance providers in UK then choose FreePriceCompare. If you are not satisfied with your travel insurer then choose insurers by checking their cheapest travel insurance quotes online and make a switch.