Travel Insurance Excess Question

jammysod

The following is the usual blurb on conditions from an annual travel insurance policy. Does it mean that there is actually no cover for lost cash? ie says max cash cover is £150 but there is a £150 excess!?
Personal Cash The insurer will indemnify you up to £500 in respect of accidental loss or theft of money whilst on your person or whilst in a safety deposit box within a hotel or bank or whilst in your securely locked accommodation under your control.
Cash limit carried on any one insured person is £150 (for persons aged under 18 years the loss of cash limit is £50).
Please refer to the terms and conditions for full details.£500.00£150.00

Thanks, John

dacouch

Which Insurer is it and we will have a look for you

jammysod

dacouch wrote: »

Which Insurer is it and we will have a look for you

Thanks, it was via Money supermarket and it was with Insurewithease - Bronze Annual Multi trip

dacouch

Section F - Money
What is covered:

WE will indemnify YOU up to the amount stated in the Schedule in
respect of accidental loss or theft of MONEY whilst on YOUR
person or whilst in a safety deposit box within a hotel or bank or
whilst in YOUR securely locked accommodation under YOUR
control.
YOU take reasonable precautions for the safety of the
property insured
YOU must supply at YOUR own expense a Statutory
Declaration regarding any claim arising under this section of
the Policy if so required
OUR limit of liability in respect of cash being carried on any
one person is £150 (for persons aged under 18 years the loss of
cash limit is £50)

It looks like a limit of £150 per adult.

There is an excess of £150.

Are any other companies coming up as the excess on this policy is pretty high eg if you make a claim for medical it is a £200 excess and most other sections are £150.

Bear in mind that the Insurers impose the excess per person so if say you and your partner made a claim you pay an excess of £300 or £400 for medical.

You will find most normal policies will quote an excess of around £50 to £65 which is a lot more managable if you have a claim

bpc101

I believe the cash limit means that is the most you will receive back from what you have had stolen from your person.

Example: you had £500 cash on you and it was stolen, you would be able to claim £300 back less £150 excess so you would get £150 back. If you had £300 stolen then you would still get the £150 back. However if you had £100 on you then you wouldn't make a claims as the excess is more than the amount you are claiming for.

If the £500 was in a safe however you would be able to claim for the full £500 less the excess, therefore receiving £350 back in claims.

Hope this helps and didn't confuse the matter more!.