Study finds big variation in gap year travel cover
24 August 2011 15:50:56
 |
| Gap year travellers should compare travel insurance policies carefully. |
Its researchers looked at 111 different travel insurance policies and found that some provide much more comprehensive cover than others.
For instance, 25% of policies offer a maximum of £1,000 of cover in the event of cancellation due to illness, while 33% provide cover of £3,000 or more.
Just over half of gap year travel insurance policies do not cover the cost of returning to the UK in an emergency and 47% do not contribute to the cost of hospital stays.
Furthermore, 27% of policies provide cover of £1,000 or less for lost or stolen baggage, and 28% will only pay up to £200 in the event of lost or stolen money.
The findings indicate that gap year travellers need to compare travel insurance policies carefully to ensure they are getting the most appropriate level of cover for their trip.
Mike Powell, Defaqto's insight analyst for general insurance, advised: "People should focus primarily on the features that different policies provide when shopping around and ensure their particular needs are met, rather than how much a policy costs."
Earlier this year, research by travel insurance provider LV= revealed that one-fifth of people planning a volunteering or back-packing trip during the next 12 months have been forced to limit its duration because of financial concerns.
‹ Back
Other Travel insurance News
-
Holidaymakers 'in favour of environmental ratings'
Environmental issues are important to many holidaymakers. -
One in five 'still fail to buy travel insurance'
Many Brits risk financial hardship by neglecting travel insurance. -
One in three people 'fly without travel insurance'
Many holidaymakers fail to buy travel insurance. -
Study finds big variation in gap year travel cover
Gap year travellers should compare travel insurance policies carefully.
All Travel insurance News
Other Home Page News
-
Think twice before taking out a payday loan
Payday loan customers may experience severe financial problems in future. -
Planning a trip? Here's where to spend your travel cash
Sterling has made strong gains against many currencies this year. -
Make sure you know your likely broadband speed
Many ISPs are still not being upfront about broadband speeds. -
Save money by checking out fixed-term energy deals
Energy costs are expected to rise again this winter.
All News Stories
Product Offers
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.
Please ensure that you fully read the terms & conditions of any product or policy before you decide to proceed and are fully aware of the total costs and the benefits and any exclusions or limitations applicable to the product or plan.
Please note that the product links will take you direct to the Issuer or Insurer's site direct and we cannot be held responsible for the information which they provide within their own sites. On some comparison tables we use a star rating which rates products by visitor popularity.