Annual Travel Insurance.

slinga

What goes on with this.

I see that even though the main insurer, label on the tin, may have a different name, the insurances all seem to be through Rock Insurance and a Swedish company.
Given that fact how come the prices differ so much for what appears to be the same cover???

I know Martin advises taking this insurance as well as the Green Card or EHIC, but it all looks a bit strange to me.

weejonnie

There are actually not that many annual travel insurance companies offering products online. However what they do is offer intermediaries a set of rates and it is up to those intermediaries to decide what markup to apply. The rates themselves may differ depending on the cover, terms, conditions, excesses and internal limits that the intermediaries request. There may also be decisions on whether children can travel independently or not and what medical conditions can be covered and at what terms.

Basically the better the policy, the more expensive it is.

I would look at a travel insurance review website and see what comments have been made about service. Then it is up to you to decide what cover you want and ensure that the policy you buy meets them.

slinga

But just reading the T&Cs they all seem to be much of a muchness, even the excesses.

slinga

And what do they mean by the condition you have to have been in the UK for 6 months prior to start of insurance???

weejonnie

I know that if you go through an aggregator website they will show some of the differences (especially the excesses), but they do tend to concentrate on price (although some of them allow you to select minimum levels of cancellation, medical expenses and baggage). It may be worthwhile when you obtain a quote through an aggregator, to have a look at the more expensive contracts as their cover is probably better.

You could contact an insurance broker - they have their own range of travel insurance options but won't (usually) be able to offer the internet ones. BIBA has a 'find a broker service' available on their website at http://www.biba.org.uk so you can find a local firm to help you. Their advice is free and unbiased and they should be able to help you find the cover that you need. Coverwise, BIBA's own policy (underwritten by Tokio Marine) is one of the better ones on the market although as a result it is more expensive than the on-line products.

Since there are only a few actual suppliers you may expect the T&C to be very similar across the products.

Obviously I don't know your requirements but I wouldn't worry about the amount of medical cover provided - every company gives more than sufficient. I would check on the cancellation cover - to ensure it covers the potential per-capita costs of the holiday. Cancellation claims are the most common type of claim an insurer has to deal with.

Also, make sure that the luggage section has a reasonable amount of cover and (most important) reasonably high levels of single article and valuables limit. Very valuable items should be insured under your house insurance all-risks policy.

Some policies give you the option when buying online to delete the excess - this is always a worthwhile consideration as the excess can be applied multiple times for the same incident.

weejonnie

Your second enquiry came in when I composing mine (supra). Basically the requirements are that you must be a UK resident. Each company has their own definition of what constitutes being a UK resident. So in the example you quote, the policyholder must have resided in the UK for 6 months - this does not necessarily mean that they can't have travelled abroad in that time. (I would be very surprised if this restriction was imposed at it would severely curtail their customer base.)

slinga

weejonnie wrote: »

Your second enquiry came in when I composing mine (supra). Basically the requirements are that you must be a UK resident. Each company has their own definition of what constitutes being a UK resident. So in the example you quote, the policyholder must have resided in the UK for 6 months - this does not necessarily mean that they can't have travelled abroad in that time. (I would be very surprised if this restriction was imposed at it would severely curtail their customer base.)

That's what I thought, but the way it's written it is open to interpretation.
We've just come back from our home overseas and now going away on holiday not having been in the UK for the last 6 months and that clause makes me wonder if it's worth bothering with something they might easily weasel out of.

slinga

And does the medical section cover hospital expenses from a personal accident even if the policy doesn't cover persoanl accident.

If not what on earth is the point of such a high Medical reimbursement amount???

luci

slinga wrote: »

But just reading the T&Cs they all seem to be much of a muchness, even the excesses.

Reading the Key Facts, ie the amounts covered, they may look much of a muchness. However if you read the actual policy wording you will find subtle differences which can have a huge impact if they are relevant to you.

As for using a broker, I tried two different brokers recommended on the Biba website and they were worse than useless. The cover I had found myself before contacting them was far more suitable than they were suggesting.

slinga

You certainly have to be careful.

We'd read many T&Cs and Key Facts and were just about to choose the one we thought suited us when on checking again my wife noticed it didn't cover France which is one place we will be going.

luci

A great many of them won't cover Close Relatives if they have been on medication in the past 3-6 months(!) As most elderly relatives are on some sort of medication there would be no cover.

Others won't cover Close Relatives if they have been in hospital in the past 12 months. Some will cover Close Relatives as long as you are not aware of any reason the trip may be cancelled.

You really need to read the sections that are relevant to you on any policy you are considering.