Know Your Policy: Extra Goodies In Your Travel Insurance

If you've ever been on holiday and had something stolen, injured yourself, experienced a long delay or possibly a cancellation of your flight, you're likely to have responded in one of two ways:

• "Well at least I took out travel insurance…"; or
• "Argh! Why on Earth didn't I take out travel insurance?"

If you're off travelling, taking out insurance is a must for pretty obvious reasons. However, there are also reasons for taking out insurance which may be a little less obvious. In other words, your policy may well have a load of extra goodies and protections you weren't aware of. Here are some examples of the type of thing we mean:

Baggage

Your travel insurance obviously covers you for lost or damaged luggage. Some policies will also cover you for delayed baggage. So for example, if your bags aren't with you for 24 hours, you may be able to claim without having to make an excess payment.

Legal Expenses

This won't cover you for expenses arising from being arrested for indecent exposure in Malia whilst dressed as a nun. But it should cover you for legal costs arising from any death, illness or injury caused by a third party during your trip. This is handy as pursuing legal action is often costly. There will be an upper limit on this kind of cover, and usually an excess to pay too.

Personal liability

Your policy may pay you up to a set limit for any costs arising from having accidentally caused the loss of or damage to someone else's property, or indeed damage to them. It is important to note that you will only be able to claim if the act was accidental - you will not be covered for any criminal or malicious acts.

This is always good advice when it comes to insurance policies - but be sure to check the small print. Any exclusions should be clear on your policy. If you are hiring out a vehicle or sports equipment, knowing the extent of your cover is a must.

Golf Cover

You will usually have to pay an additional amount on your premium for golf cover. But there are sometimes interesting features thrown in. For example, some policies offer cover for your bar bill up to a certain amount if you get a hole in one. Ace!

As always, the best thing to do is to read your policy document to know exactly what you're getting. Familiarising yourself with your policy can often lead to saving money, and sparing heartache… which is the best way to get the most from your insurance.

Article Source: http://www.mycontentbuilder.com

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