Travel Insurance -
Cheap Travel Insurance Not Good Enough - 30/04/2008
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High street travel insurance retailer Swinton has spoken out against travel insurance price comparison sites saying that they do not place enough emphasis on what the insurance actually covers.
Holidaymakers are always looking for the cheapest deal and often only look at the price and nothing else when choosing their travel insurance. Price comparison websites fuel this obsession with price and leave many holidaymakers with inadequate cover.
A spokesperson for Swinton says that “Cut price cover may save pounds in the short term, but more and more holidaymakers are finding they are not insured when it comes to making a claim”
They used statistics from the British Financial Ombudsman to illustrate the number of people not happy with their travel insurance. The statistics show that one in every eight complaints received by the British Financial Ombudsman concern travel insurance.
People are finding that their cheap travel insurance does not cover for the most basic of claims, leaving them out of pocket in the long run. Taking extremely cheap travel insurance out is as good as taking none at all according to Swinton.
Most of the cheapest policies do not offer basic cover for the most common claims, such as baggage loss, losing money or passports and travel delays.
Chris Collings, head of insurer development at Swinton urges consumers to choose carefully when buying travel insurance:
“People need to be aware that these sorts of policies provide little or no cover, and are literally useless as soon as you come to claim. It may seem like a good idea at the time to take out a cheap policy, but if things go wrong, it could end up being very costly in the long run.”
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