Thursday, December 3, 2009

Most Common Travel Insurance Claims

With more choice than ever from the supply of travel insurance, it has become standard practice to make sure you're financially protected before departing on your travels.

The online market for policy quotations is booming, and with the millions of customers taking out a reassuring travel insurance policy, also comes the millions who claim to recover financial loss every year.

From the statistics collected by insurers it becomes clear there are trends which appear frequently, such as the most popular types of travel insurance claim submitted to providers.

And if you're curious, let's now reveal the top 5:

Medical Claims
- The highest occurring type of claim arises from a number of sources; holidaymakers who land with full health then experience some kind of illness or injury requiring medical care. Also, people who travel being aware of a pre-existing condition, which may deteriorate on holiday, requiring medical assistance.

In some cases patients need to be repatriated, which at full health might be the cost of a cheap flight, but with full medical support in a specialist aircraft can cost alarmingly high amounts! Often in the tens of thousands, this is the claim which uninsured travellers at risk fear the most. The huge cost will ultimately be determined by the nature of the medical issue plus how far afield the incident takes place.

Baggage Claims
- Any frequent flier will be well aware of the likelihood of arriving at the destination airport and standing unfulfilled at the baggage reclaim belt. Even with the technology available this issue still occurs far too often, and can arise from bags missing their connections, passengers boarding flights on time while suitcases are delayed by baggage handling operations, alternatively because luggage is pulled aside and lengthy security checks go on.

Cancellations - Less fortunate travellers never even get off the ground because events transpire before departing which prevent them going on holiday. This could be time in hospital, unforeseen illness, family circumstance or some other justifiable reason that prevents the trip from taking place. Claims for refund of booked travel plans are usually higher in value than baggage claims, but not as high as medical claims.

Personal Money
- Lost or stolen cash is a perennial issue that travellers are aware of. Tips such as watching out for pick pockets, taking advantage of hotel security deposits, and making use of travellers cheques forms useful advice which is clearly not heeded by all.

Loosing cash abroad is still a major incident for many holidaymakers, and usually coincides with the loss of other connected items; wallets, purses, credit cards, passports, and jewellery. Insurers are not blind to this statistic and have set maximum limits for the values which can be claimed. Be aware of these and only carry as much cash as these permit.

Delays - Regardless of comprehensive planning, there is always something which can go wrong. A common factor is the weather which can close down airports, ground cruise ships in harbours, wreck road and rail infrastructure with floods, landslides and earthquakes, not to mention potentially close hotels with hurricanes!

Something less spectacular can still cause delays requiring unwarranted stays in expensive airport hotels, or re-booked flights on the day of departure.

Technorati tags; cancellation claim, delayed baggage, travel insurance.

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