So we all know that travel insurance is an essential part of travelling, most tour operator companies will not let you fly without the relevant documentation in place. This being said though, is travel insurance really cracked up to what it should be?
A lot of people do not read through there policy booklet when they take out an insurance policy. People just do not have the time, to look over pages and pages of documentation, that to be honest probably makes no sense to the non technical person. What people do tend to look at when taking out an insurance policy, is the payout limits on the initial page of the booklet.
So you have checked out these limits and are happy with the payout, so decide to purchase a policy from the company in question. You then leave to go on holiday, and the unthinkable happens, an act of terrorism or the beginning stages of a war begin. You start to panic and decide the best thing is not to go, especially if you are travelling with kids.
So you cancel your holiday arrangements and then give a call to your travel insurance company to get your money back. You calmly explain the situation to them, and are then responded to with an automated like reply of, "Sorry, your policy does not provide cover on this occasion". You are shell shocked, after all is that not the reason you purchased travel insurance? To help you when unlikely situations occur.
You then argue until your blue in the face, but the company responds with "It's all written in the terms and conditions". So you put the phone down and decide to read through your policy, you can see nothing that states this, but then you turn to your final page and look at the small print exclusions. You are devastated; you have lost all of your hard earned money.
Well many travel insurance policies have a variety of small prints; you should carefully read through the whole policy before deciding to travel. Do not only rely on a sales team member, to give you information, as it is down to you to read through the policy itself.
Make sure that you do not rush into travel insurance deals, as this could have major repercussions on your finance. Let's for example say you got stuck in a country abroad and your travel insurance would not help you. You would have to turn to your credit card or a loan to get you back, which will have you paying interest and cost you more in the long run.
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