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Insurance Headaches

Travel Forums Round the World Travel Insurance Headaches

1. Posted by jhuxley (Budding Member 5 posts) 12y

How's it going, I'm new to this forum, so hey y'all
I'm off RTW next month, my first time travelling and am trying to sort out Insurance. As I'm going to South America, I need to get world wide cover, I think.
Does anyone have any recomendations on who I should go with or how much I would look at spending, also any specific benefit's I should look out for.
Nearly everywhere is est. about £240 for cover apart from trekker247, that offers £150. Is that too good to be true?
Cheers
Jim:)

2. Posted by Sam I Am (Admin 5588 posts) 12y

Hi Jim,

Yeah, insurance can sure be a headache ...

The main thing is to compare their coverages well. You will need worldwide coverage and depending on what you prefer you'll find the prices are quite hard to compare.

A travel insurance that pays out quickly when a backpack or cash is stolen will generally be quite expensive. Those that have little coverage in this area but higher coverages for really serious things usually are cheaper as the number of claims they get for things like this are so much lower (although for higher amounts). Generally speaking, the more you pay, the better (sounds so logical...). On the other hand, the insurance company can limit its liability by only selling to 20-35 year olds which might mean a good insurance in that age bracket could be cheaper than a less good one which covers all ages....

I would be careful if an insurance is that much cheaper than other insurances but if it claims more or less the same coverage, why not!

Hope that helps...

Sam

3. Posted by BeckyR (Full Member 174 posts) 12y

It is also worth looking at annual cover rather than one off trip, since they are quite often cheaper and more extensive . . .although if you are going for any sporting or outdoor activites read the small print carefully!

B

4. Posted by Sam I Am (Admin 5588 posts) 12y

That's a good point BeckyR. If you do so though, be sure to check whether they cover trips of more than a month. A lot of these insurances are pretty limited in that they only cover three weeks of travelling. Some are better but most annual cover insurances don't cover trips longer than a month (which is a slight contradiction with the name 'annual cover' I guess :) )..... ah insurance....

5. Posted by BeckyR (Full Member 174 posts) 12y

Jim

Sam is right, you do need to watch out for length of travel on the annual cover ones. I should have mentioned it, it is just that my annual allows for up to 4 months travel in any one journey, so forgot! Oops . . . B

6. Posted by Sam I Am (Admin 5588 posts) 12y

Wow, that's a nice one Beck! They never had those when I was looking into travel insurance :( I think the rates and deals for the UK are a lot better than over here on 'mainland Europe'.... for now at least. Insurers have a lot of taxes and stuff depending on the country the insurance is sold in that they might have to pay so the prices can be hugely different depending on where you live.

In Finland for example, good travel insurance for a longer period usually starts around 75+ EUR per month.... partly because of a 20% tax which the insurer has to pay on every sale.

7. Posted by Peter (Admin 5809 posts) 12y

Hi Jim, Have you tried www.worldnomads.com - pretty reasonable rates and quite good coverage also (providing you're not carrying expensive individual items). Everything is done online, which is how they keep their rates down. I've had three policies with them now, though no claims yet, so can't speak for that side of their business.

South America isn't a particularly expensive place for liability purposes as far as I can tell, so what they're mainly interested in is whether you're going to the US. The individual insurance companies should make this pretty clear in their information though.

Also there is insurance available on our travel insurance page:
http://www.travellerspoint.com/travel-insurance-online.cfm
Very cheap one there also, check the policy to make sure it's enough coverage for you though.

Peter

8. Posted by jhuxley (Budding Member 5 posts) 12y

Hey, thanks a lot.
I've not got much time now, but I'll check Worldnomads out.
I was a bit worried that I needed to get sorted straight away, but people I've spokenm to say that they did it not long before they went.
I agree about paying more. The extra money seems worth it for the peace of mind.
Cheers
J

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