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Failure to secure travel insurance 'a costly mistake'

27 May 2010 08:54:27

Travel insurance policy is 'essential', says expert. image
Travel insurance policy is 'essential', says expert.
Just as many parents are likely to be searching for a last-minute bargain deal to take their children away for some early summer sun during the half-term holiday, Mirror writer Tricia Phillips has advised that there is one area in which savings should not be sought.

In a column for the news provider, Ms Phillips said travel insurance is the "one thing you shouldn't scrimp on", and those considering doing so have been warned they are in danger of making a potentially "costly mistake".

Although the profile of travel insurance has been raised by the volcanic ash cloud, with much made of the decisions of individual providers to pay compensation or otherwise, Ms Phillips has reminded holidaymakers that this is not the only reason to secure cover.

Indeed, she suggests that the most important reason for travel insurance is to cover medical costs incurred overseas.

As an example of this, Ms Phillips points out that breaking an ankle in Menorca could result in a hospital care and repatriation bill of around £28,000.

However, while travel insurance is described as "essential", the expert added that consumers should not rush into taking out a policy, with a prior travel insurance comparison advisable to ensure fees are not excessive.

This echoes the view of Rachael Stiles, personal finance editor at Fair Investment Company, who suggested earlier this month that the Eyjafjallajokul volcano eruption in Iceland serves as a reminder to holidaymakers to "always compare travel insurance policies to make sure they get a level of cover which suits their requirements".ADNFCR-2196-ID-19801822-ADNFCR ADNFCR-2196-ID-19464191-ADNFCR

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