Chris Torney, Personal Finance Editor at the Daily Express, says the latest ash cloud should encourage travellers to get the right kind of insurance
The latest episode in the ongoing Icelandic volcano saga appears to have ended without too much disruption.
Certainly the ash cloud produced when Grimsvoetn erupted last month has had nothing like the effect Eyjafjallajökull had in April and May 2010, when much of Europe’s airspace was closed at one point or another.
From volcanoes to cabin-crew strikes or heavy snowfalls, British travellers have in recent months faced a host of obstacles when trying to get away from it all.
So it is to be hoped that these events – and the regularity with which they now seem to occur – can act as a wake-up call for previously unwary travellers who fail to take out the right protection before they head off on holiday.
Too much choice?
Having your hard-earned break delayed or cancelled is bad enough. But if you don’t have the right kind of travel insurance, you could have insult added to injury if you are denied compensation or face a long battle with airlines and tour operators for a refund.
As news of Grimsvoetn’s eruption broke, thousands of Brits scheduled to head off for the bank-holiday weekend or a half-term break will have been frantically checking their travel policies’ small-print to see if they would be able to claim in the event of their flights being grounded.
And this is the problem: with hundreds of different types of holiday insurance now available, too many of us are signing up without knowing exactly what we are covered for.
Research from analyst Defaqto has found there are now 378 single-trip travel policies on the market, compared to 308 in 2008.
That’s great news for consumer choice, but it does mean that buying the right cover can be confusing.
Work out what’s important
Frequently, people opt for protection on the basis of price. But the problem here is that many of the cheap travel insurance policies are full of exclusions which mean that you won’t be able to claim in a variety of circumstances.
For example, many deals now exclude disruption due to weather or similar events – which could mean no claims as a result of volcanic ash.
Others won’t give you your money back if your airline goes bust, or if you’re forced to cancel your trip due to illness, for example.
Trying to save money on your policy is fine, but before you buy, work out what you most want to be covered for – whether it’s lost luggage or airline failure – and make sure the insurance you choose providers the relevant protection.
As well as a financial safety net, insurance is supposed to offer peace of mind: so there’s no point buying cover and then worrying about whether it will pay out if things go wrong.
As Chairman of the Association of Travel Insurance Intermediaries (ATII), whilst I agree with much of the content, especially that customers should take time to understand the cover within their travel insurance policy, I would like to expand on the points made above.
It is not entirely correct that 'many deals exclude disruption due to weather'. However, there are a few lower cost policies, especially on the price comparison sites, that exclude travel delay as a benefit. Equally, those policies that do cover travel delay may only cover 'adverse weather' and some insurers do not regard the ash cloud incidences as a weather event and thus may decline a claim. If you have any doubt, ask your travel insurance provider.
A number of travel policies include what is referred to as 'Insolvency' or 'Scheduled Airline Failure Insurance'. However, unlike Cancellation and Medical Expenses, it is not deemed a standard component of a travel policy as customers travelling with a financially stable airline may not wish to pay more for cover that they feel is unnecessary.
Finally, there are a very small percentage of policies that exclude Cancellation as a benefit. Others may offer you the option to delete the cancellation cover to reduce the price. Regardless of the type of trip, few customers would travel cost-free so customers should think carefully before making such a decision.
However, the ATII would certainly agree that customers should ensure that they pay for the cover that they need and that gives them peace of mind to travel.
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