Dangerous deals on travel insurance
MANY travel insurance policies are too cheap to offer adequate cover, a new report claims.
The findings from financial research company Defaqto warn consumers not to base their choice of travel cover purely on cost and to check their policies carefully.
As many as 30 policies exist that charge £10 or less for a week’s travel to Europe, with one quoting £5.49 per person.
Brian Brown from Defaqto said: “Consumers are being let down by the insurance industry, which has made travel insurance policies jargon-heavy to the point that the only thing they can easily compare is price.
“This, compounded with increased competition, means too many people now travel abroad with inadequate cover. With the continued growth of overseas travel, more people are likely to end up on the wrong side of a claim.”
The report also estimates around 10 million overseas visits are uninsured each year, with many travelers under the wrong impression that a European Health Insurance Certificate (EHIC) removes the need for travel insurance.
Richard Mason from Moneysupermarket.com said: “We would advise consumers to pay an extra few pounds and ensure their policy covers medical expenses, personal liabilities, cancellation costs and personal possessions.
“For a single trip to Europe, this can still be bought for as little as £7.10.”
