The Importance of Holiday Insurance

The thought of having to take out holiday insurance prior to your holiday does not seem very exciting. However, it is vital to do so, as it could save you a great deal of financial loss. Here are a few reasons why:

1. Cancellation: This may arise due to illness, or even a death in the family. Holiday insurance will cover this and although you may lose your trip, you won’t lose your money.
2. Medical: This tends to be the most costly type of claim, with an air ambulance costing over £20,000 to bring you home. Therefore, it is vital you take out holiday insurance so that your insurers will cover this cost, particularly if you are skiing!
3. Curtailment: If your trip is cut short due to certain unforeseen circumstances, taking out holiday insurance will ensure you don’t lose the money you have already paid out.
4. Baggage: If your bag gets stolen or is lost, holiday insurance will ensure you are able to purchase new possessions on holiday or when you return home.
5. Money: If your room is broken into or you are robbed then most holiday insurance policies will cover this. It is essential that you place valuable articles in the hotel safe as even if placed in the room safe, this does not guarantee policy pay out.
6. Legal Expenses: In the event of  a claim being made against you, your legal defence costs  will be covered arising out of legal liability.
7. Peace of mind: So you can relax and enjoy your holiday without the worry of any unexpected financial loss.

Choosing the right Holiday Insurance

There are many cases where an insurer or underwriter may reject a holiday insurance claim. It is therefore very important that you take care when choosing your holiday insurance. Here are a few things to consider when taking out holiday insurance:

Activity Exclusions: sometimes high-risk activities are excluded from cover. These may include bungee jumping, sky diving, white-water rafting and more. Take into account what activities you might be doing to ensure they are included when you take out holiday insurance.  You also need to disclose if you are going skiing as this is not necessarily automatically included.

Excluded Area: Some parts of the world are clearly unsafe to travel in, and therefore are not included in holiday insurance claims. Be sure to check your destination is covered.  Always take the advice of FCO – www.fco.gov.uk before travelling to a destination.

Existing Medical Conditions: If you do not declare an existing medical condition, your claim may be rejected. This may include an existing injury that is exacerbated during your holiday.

Claiming Too Late: It is important to read the terms and conditions of your holiday insurance policy, to ensure you have full knowledge of when you need to make a claim by, following any particular incident.

SG Chaseside Insurance Solutions

SG Chaseside Insurance Solutions offers bespoke solutions to our private clients’ specific needs. A personalised claims service is included and tailored to our clients’ preferences and includes 24 hour claims reporting.  Please refer to our Insurance Solutions Specialisms page or Contact us