Insider Guide toHoliday Insurance

If you are considering holiday travel insurance coverage for you and your traveling companions, it is important to know what will and will not be covered in your policy. And whilst it is required that holiday insurance providers spell out clearly their terms and conditions, there are still some areas that may leave a trip insurance policy holder unclear if they are covered. Here are some common tips on looking at coverage and ensuring you are covered in the event a claim is necessary.

Trip cancellation is one area that can leave a policyholder unsure. Standard reasons for being reimbursed for cancelling a trip include medical issues (sickness), hurricane, losing a job, and terrorist incident. Coverage is detailed in the Policy Certificate. If something is not explicitly listed, it will not be covered. If for some reason you fear having to cancel your trip due to something that is not listed in the Policy Certificate, you may opt for an additional rider that covers cancellation for any reason. This will result in a higher policy cost, but there may be circumstances where you or a traveling companion may end up backing out for no reason.
Another area that can cause problems is with pre-existing medical conditions. A company can exclude a pre-existing medical condition. This is standard practice as it avoids someone purchase holiday insurance after becoming ill. In cases where a pre-existing condition is present, the holiday insurer must grant waiver, but you must take this step immediately after booking your holiday. You must be in good health at the time of policy purchase.
Holiday insurance plans have coverage exclusions. Check the Policy Certificate to find the section titled General Policy Exclusions. This provides specific areas where the policy will not be in force. If you are taking an adventure holiday where more than average risk is involved, be sure to check this section as your activity may be specifically excluded.
Keep all documentation and receipts for claim filing. This is crucial as a claim can be delayed or rejected outright if you do not have the required paperwork. If cancelling a trip for a medical reason you must provide a written doctor’s note. A runny nose that will make the trip less enjoyable is not valid! For overseas medical expenses, get all receipts and paperwork before you leave any medical facility or hospital. With these thoughts in mind you should be able to find the right holiday insurance policy firm and feel fully secure in your trip coverage.