Operator Travel Insurance 'Not A Good Idea'

We all look forward to our time away whether it is a sun filled two week Mediterranean holiday or a weekend break in the UK. And, of course, there are a million and one things to do before we can go away; one of the most important of which is travel insurance. However, it seems we need to be more careful about where we buy our insurance from as it may be that we are not as protected as we think we are.

People looking to go away should avoid taking out a holiday insurance policy with their travel agent, according to an industry expert.

Specialist insurers work within the regulations of the Financial Services Authority (FSA) and as such offer holiday makers a much more comprehensive service, according to the British Insurance Brokers' Association.

As travel agents do not operate inside the FSA's remit, their policies may not cover existing medical conditions and key exclusions and requirements, it added. The manager of technical services at the body added that it is time they abided by FSA rules.

"Travel agents totally need to be regulated because we're seeing all the time consumers, when they buy a policy, that don't realise they have to disclose things like pre-existing medical conditions," he said.

Whenever the holiday season comes around, people looking to go away should consider taking out travel insurance in order to cover themselves against potentially expensive scenarios.

Top tips for buying travel insurance:

•    Cheapest is not always best – often inexpensive policies do not offer comprehensive cover.
•    You need to disclose any pre-existing medical conditions as your policy may be invalidated otherwise.
•    Check that the policy covers all the activities you are planning to do. For example a winter sports policy may cover skiing but not snowboarding.
•    Check you are covered for things like cancelation due to illness, strike action, severe weather at home or at your destination or if your operator goes bust.
•    Theft or loss – check the value of any excess on the policy. Also make sure you are covered if you lose all of your possessions, it may be that the policy will only protect certain items or up to a certain value.

If you would like to know more about insurance why not ask AnswerBank Insurance.