Holiday makers urged to check travel insurance details before jetting off

Failing to read the small print on travel insurance policies could leave holidaymakers out of pocket and at risk. A study of over 700 travel insurance products by Comparethemarket found that restrictions and exclusions on many policies can leave customers unprotected if something goes wrong.

Nearly half (45%) of products only offer cover for cancellation of any prepaid travel or accommodation expenses of less than £3,000 – the cost of cancelling a family holiday outside Europe could be considerably more.

Almost half (49%) of products only cover valuables worth £250 or less, and just over one in 10 products offer cover for valuables of £500 or greater. Holidaymakers carry laptops, iPads, expensive cameras and mobile phones, but due to their policy restrictions many will be unwittingly travelling with uninsured valuables.

Over one in ten policies provide no cover for missed flights and almost a third (32%) of products will not pay out for missed connections within the UK. Even if your policy does cover missed flights, customers often have to undergo a lengthy process to make a claim including getting confirmation from the appropriate travel authorities.

Terms and conditions of travel insurance policies are on average 26,392 words, the longest of any insurance product, which highlights the difficulty that customers face in understanding the details of their policy. On average, travel insurance terms and conditions would take 88 minutes to read – which may be off putting for consumers and encourage them to skip reading the small print and noticing important exclusions.

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