Your Travel Insurance
The last thing you need is to cancel a holiday or have disruption whilst you are traveling, here are some common things to look out for when taking out travel insurance.
Did you know that personal effects such as tablets and smartphones are not usually covered on a travel insurance policy? Should you lose or damage these whilst traveling then you wouldn’t be able to make a claim against a travel insurance policy.
However, these would be covered on a house insurance policy but you have to ensure you have the correct limits in place under the All Risks section of your policy.
Normally there are two routes to organising your holiday.
Package holidays which are covered by the ABTA regulations mean if a part or all of your holiday is disrupted then you will be covered for this disruption as part of your package.
The alternative is self-arranged travel where you may book flights, hotels and activities through separate operators or companies. If any one part or all of your travel is disrupted, then you wouldn’t be able to cancel and get a refund on the other parts.
Most travel insurance policies don’t include this as standard. Make sure this is included in your policy if you are self-arranging your different parts to your holiday.
If buying a package holiday, then look out for the ABTA logo to ensure they offer this protection.
Most people traveling have minor conditions or take some medication for some form of medical condition.
You need to disclose ALL medical conditions regardless of severity as the linked conditions associated with these wouldn’t be covered under an insurance policy.
For instance you may take some tablets for blood pressure so if you had a heart attack on holiday then this wouldn’t be covered if you hadn’t disclosed the blood pressure tablets.
Do you ever take part in activities whilst on holiday like skiing, water sports or even crocodile wrestling like one of our clients?!
If so, then you need to make sure activities or sporting activities are included in your policy. The last thing you need is to have your holiday ruined due to an accident and then find out you are not covered (and yes you can cover crocodile wrestling if you are into this!)
Your Luxury Travel Insurance
If you are planning a special trip or are often arranging bespoke high value trips your standard travel insurance might not give sufficient cover. You will need to consider high net worth travel insurance.
As well as the standard travel insurance protections above here are a number of items to be aware of when arranging your luxury trip and arranging high net worth travel insurance.
- Worldwide family cover – Often you will travel as a family group, but bespoke arrangements allow you to travel as a group but also as individuals on a worldwide basis. This is especially important if you are also undertaking activities such as skiing in the winter and rock climbing in the summer. Ensuring all your family is protected no matter where they are and what they are doing will allow you to enjoy your travel.
- Nanny / Au pair Cover – If you travel with your nanny or au pair then it’s important to arrange travel cover for them but the important aspect is to ensure your High Net Worth House Insurance (link to page) covers the Employers Liability on a worldwide basis to match your travel patterns.
- Length of trip – Standard insurance policies will only cover up to 31 days away at a time, however a bespoke arrangement can cover any length of trip.
- Type of trip – If you are traveling from on country to another without returning to the UK this can be arranged through a tailor-made policy.
- Cancellation sums insured – Obviously with a luxury travel arrangement the costs of the trip will be usually higher. As such, if the unfortunate happens and you have to cancel your trip then a standard policy cancellation wouldn’t be enough. Fortunately, bespoke arrangements can cover up to £500,000 cancellation costs,
- Age limits – With a luxury travel policy you can usually cover up to the age of 85, but there is scope to cover beyond this.
- Medicals – Whilst you can cover almost any medical condition a luxury travel policy will actually provide a lot greater flexibility in what is and isn’t allowed under the standard cover without having to pay additional premiums.
- Home insurance – If you have a high value home insurance policy (link here to home page) then adding travel insurance to the home insurance is the easiest way to get the best cover.