Travel insurance truths

The majority of Brits are hedging their bets by going on holiday with no travel insurance. According to a recent survey carried out by Age Concern Insurance Services shows that 75 percent of British people don't check the terms of their travel insurance, and that 56 percent have been on holiday with no insurance whatsoever.

Checking the fine print of your travel insurance documents may seem an unnecessary pain, but reading it may mean the difference of thousands of pounds should an emergency occur.

Often travellers assume that they are covered for cancellation or curtailment of their holiday when they are not. Other things that may or may not be covered are delays, loss of luggage, medical expenses and personal liability (insurance which covers you if you cause an accident abroad). Not having cover for the above can lead to traumatic and sometimes cripplingly costly ordeals while on holiday.

15 percent of Brits use travel insurance that comes tagged onto other products, for example credit cards, but the cover offered in this way may be limited.

Age Concern is urging everyone going overseas this summer to make sure they read the terms and conditions of their travel insurance policies to ensure that they don't end up out of pocket should the worst occur.

Antony Osborne from Age Concern Insurance Services says: “Our research shows just how many people don't think to check the details of their travel policy before going on holiday and highlights the very good reasons why everyone should do so.

Age Concern's top tips when booking your travel insurance are...

• Always check the cover - travel insurance is sold at varying levels. Check carefully to see exactly what you're covered for, a good insurance policy will cover you for cancelling or cutting a trip short.
• Check whether your insurance covers any activities you're planning and also what the maximum age is under the terms of the policy. Many companies only cover those under 65.
• Shop around to find a good price and the right product rather than opting to travel without cover.
• Cheaper policies will usually have less cover – for some the price seems most important, but is it worth the initial saving?
• Consider annual multi-trip insurance if you make several trips a year – you could save time and money.
• Ensure your policy will refund the full cost of your holiday and pay out if you need to cancel or cut short a trip because you fall ill. Check the cover includes, for example, pre-paid expenses such as excursions and extra costs incurred to get home.