Shed your holiday worries with a travel insurance policy

Question: I am planning a quick ten-day break to Europe next month, and I don't know if I should take out travel insurance. I have had a look around, and there seems to be so many products on the market. I am 35, and will possibly be doing some skiing for the first time. What should I do?

Answer: When you are booking a holiday for you and your family, the last thing you want to think about is: what might go wrong?

However, if you are in a foreign part of the world, and don't know very much about the country or the language, trying to resolve issues while you are away can be a daunting task, and it could ruin your holiday.

Getting a travel insurance policy before you leave will give you the reassurance that if you do encounter any problems, you will have a point of contact to help you resolve the issue.

As travel has become cheaper and more accessible, there has been a big increase in the amount of policies available. You need to consider your own personal situation, and decide which areas of your holiday you want covered.

Is it worth paying to get compensation if your flight is delayed or your baggage is lost? If you get injured while learning to ski, will you be able to afford the medical fees? If you have your credit card stolen, will you have funds for the rest of the holiday?

Because there are so many different policies, you are able to specify which areas you would like covered. It is possible to get insurance through your travel agent but make sure you're given the best package for your individual needs.

Alternatively, you can talk to a specific travel insurance provider about your different options and narrow down what is most suitable for you.

Information

Have your itinerary, and discuss what you have planned while you are away. Try to give as many details of your trip as possible, to ensure your policy covers all of the areas you expect.

Also, tell the adviser about any medical conditions or medication you are taking, as this may invalidate your policy.

There will be extra charges for insurance cover you while you are skiing or playing golf. Many insurances offer a sports package which may well be worth taking out.

If you are quite flexible about when you are going to be travelling through each country, you will be able to get a policy that covers you across Europe; so it doesn't matter when you move from one country to the next.

The cost of a travel insurance policy will vary depending on how extensive you want the cover to be, however a standard policy covering medical expenses, financial (such as money invested in nonrefundable pre-payments), and other losses incurred while travelling, will generally cost between five and seven per cent of the holiday.

By sorting things out before you get on a flight, I am sure you will have a great time while you are away.

- The writer is director of General Insurance at Nexus, one of the the region's leading financial advisers.

The views expressed are the author's and do not necessarily reflect the views of Gulf News. If you have any questions, pleasee-mail: advice@gulfnews.com