Logic Insurance, Holiday Insurance a Waste of Money, Really? - It's a fact of life that nobody likes insurance. Well, the solitary exception might be those that earn a living selling it but for most of the rest of us, it seems to be one of those intangibles where we are paying for something and getting nothing apparently in return. So, does that mean that holiday insurance in particular is a waste of money?
Things can go wrong on holiday. For the vast majority of holidaymakers, their break is trouble-free and incredibly relaxing. It's a care-free escape from some of the more tedious realities of life and a chance to explore beautiful locations and beaches etc.
Should any of the above things happen to you, whether you are in a foreign country or on a domestic holiday, the chances are you will see a very significant hole in your bank balance as a result. If that sounds unlikely, try rushing out to the shops and buying replacements for all of your holiday clothes, travel items and luggage in the event you are unfortunate enough to suffer the loss or theft of a suitcase.
Another even more financially painful experience might arise if you need to pay for specialist medical ambulances to get you back home after hospital treatment on holiday. Expect some potentially ruinous costs if you need to pay for that sort of thing yourself because you don't have insurance to help.
These are things it would be a smart idea to discover before you purchase your policy rather than afterwards in the context of a major row when you failed to get a claim accepted. So, don't assume that one policy is as good as another but instead find a few minutes to read them before deciding which one to purchase.
In the final analysis, you may have to ask yourself whether this is a risk you are prepared to take in order to save a relatively small amount of money on that travel cover. (Brenda Campbell)
Things can go wrong on holiday. For the vast majority of holidaymakers, their break is trouble-free and incredibly relaxing. It's a care-free escape from some of the more tedious realities of life and a chance to explore beautiful locations and beaches etc.
The Fact About Holiday Insurance
Yet it is a sad fact that occasionally things can go wrong for some unfortunate folk. Examples might include things such as being injured or taken ill and hospitalised as a result. Another problem might be the loss or theft of luggage and so on.Should any of the above things happen to you, whether you are in a foreign country or on a domestic holiday, the chances are you will see a very significant hole in your bank balance as a result. If that sounds unlikely, try rushing out to the shops and buying replacements for all of your holiday clothes, travel items and luggage in the event you are unfortunate enough to suffer the loss or theft of a suitcase.
Another even more financially painful experience might arise if you need to pay for specialist medical ambulances to get you back home after hospital treatment on holiday. Expect some potentially ruinous costs if you need to pay for that sort of thing yourself because you don't have insurance to help.
Not all policies are the same
Having insurance is one thing but having suitable insurance is entirely different. In spite of what some cynics might tell you, not all insurance policies are the same apart from their logo. Some, for example, might exclude a whole range of holiday sports from their cover - and that might be a real problem if they happen to be sports you intend engaging in.
Another example of the type of thing to look for is family accommodation in the event you are injured. If you are in a hospital and a family member needs to stay with you locally once your holiday accommodation rental has expired, not all policies will necessarily cover their costs as well as yours.
Another example of the type of thing to look for is family accommodation in the event you are injured. If you are in a hospital and a family member needs to stay with you locally once your holiday accommodation rental has expired, not all policies will necessarily cover their costs as well as yours.
The horrific facts
Figures published in early 2014, show that a staggeringly high percentage of people still go on holiday without any form of cover. It was also estimated that the cost of doing so each year is around $3.6 million - that's the amount people are paying out of their own pocket because they didn't have any insurance assistance.In the final analysis, you may have to ask yourself whether this is a risk you are prepared to take in order to save a relatively small amount of money on that travel cover. (Brenda Campbell)
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