Family travel insurance excess per person

rich_legs

If I take out a family travel insurance policy for five of us with an excess of £100 and we need to submit a claim for something that affects all of us, does that mean the excess deduction applied to the claim pay-out would be £100 or £500? Thanks

newatc

I just claimed on Travel Insurance for myself and wife. It was accepted minus excess for each of us. It might be different if there are children involved.

TELLIT01

The per person application even applies when the item cost is the same irrespective of the number of people.  We had to cancel a holiday and lost the deposit on accommodation.  The cost would have been the same whether 1 or up to 4 people occupied.  We were travelling as a couple so 2 x excess deducted.  Nice little earner for the insurance company.  They charge more to insure 2 people and then deduct more when a claim is made.

CSI_Yorkshire

Excess isn't a "nice little earner" for anyone unless it means that your final claim value ends up lower than the premiums of the policy - almost never the case.

TELLIT01

CSI_Yorkshire said:

Excess isn't a "nice little earner" for anyone unless it means that your final claim value ends up lower than the premiums of the policy - almost never the case.

It's a nice little earner in a situation of accommodation having a fixed price but multiple excess charges made on the basis of occupancy.

DullGreyGuy

TELLIT01 said:
We were travelling as a couple so 2 x excess deducted.  Nice little earner for the insurance company.  They charge more to insure 2 people and then deduct more when a claim is made.

In what way is the excess generating revenue @tellit01?  If you dont like the idea of paying an excess then buy a policy without one, but then your premiums will be higher.

 Plus, if the accommodation was £5,000 as two people travelling you only needed a policy with a £2,500 limit per person where as a single person travelling would have needed a £5,000 limit. So you saved on your premiums unless you chose to over insure

Travel insurance is ultimately a fairly basic product, when you insure a family of 5 they dont ask if you are getting 1,2,3,4 or 5 rooms. Like all classes of insurance there are some who do better out of the simplifications and some less well. Insurance is one of those odd products that you buy hoping never to have to use it, arguably those that have done best out of it isnt defined by who got the best premium to risk ratio but the family involved in the major RTC whilst in the US but try telling them they are the lucky ones. 

CSI_Yorkshire

TELLIT01 said:

CSI_Yorkshire said:

Excess isn't a "nice little earner" for anyone unless it means that your final claim value ends up lower than the premiums of the policy - almost never the case.

It's a nice little earner in a situation of accommodation having a fixed price but multiple excess charges made on the basis of occupancy.

They don't earn anything from your excess.