Premium Holiday Insurance

The incidence of delay and cancellation of flights has risen over the years. This has eventually increased the demand for premium holiday insurance policies despite the fact that these policies are costlier than the travel insurance plans offering basic coverage. But that shouldn’t deter you from buying adequate coverage.

There are many insurance providers offer affordable travel insurance to travelers. Interestingly, you will come across many insurance providers that offer lower premium rates as compared to their counterparts offering identical coverage. This discrepancy is mainly due to couple of factors that determine the premium rate, the main ones being surviving competition and retaining clients.

Premium Holiday Insurance coverage rates

Insureandgo (0844 888 2787) is an insurance provider that offers premium holiday insurance policies that are offered in different levels. The category of coverage offered and the maximum coverage limit for the coverage is mentioned below. The 4 categories are Budget, Silver, Gold, and Black. In this case Black is the premium holiday insurance plan.

Cancellation
Budget – 1000 pounds
Silver – 3000 pounds
Gold – 5000 pounds
Black – 7, 500 pounds

Maximum Trip Duration
Budget – 31 days
Silver – 45 days
Gold – 90 days
Black -90 days

Medical Expenses
Budget -3, 000, 000 pounds
Silver -5, 000, 000 pounds
Gold -10, 000, 000 pounds
Black – 15, 000, 000 pounds

Personal Money
Budget – 200 pounds
Silver – 500 pounds
Gold -500 pounds
Black – 750 pounds

Personal belongings
Budget – 1, 500 pounds
Silver – 1, 500 pounds
Gold – 2, 000 pounds
Black -2, 500 pounds

Excess
Budget – 75 pounds
Silver – 60 pounds
Gold – 50 pounds
Black - nil

Post Office premium holiday insurance

Post Office UK offers many holiday insurance policies. The features of premium travel insurance are given below.

Coverage for Europe and Worldwide travel
Type of coverage – Annual Premium
Coverage does not include travel to USA
Optional coverage for winter sports
Cruise travel is included
Plan does not include business trip
The product is available to permanent residents of UK
The policy can be bought online
Maximum coverage period 31 days
You can take quotes for people of maximum age 74 years
In case of winter sports maximum age of a person who can be covered is 74 years
Maximum medical expense limit is 10, 000, 000 pounds
The premium holiday insurance plan offered by Post Office also covers medical screening
Winter sports equipment limit is 700 pounds
Loss of cash coverage is 300 pounds

Factors affecting holiday insurance premium rates

There are several instances when you will come across individuals who pay different premium amount although the policy is more or less identical. Why does it happen Method of marketing an insurance product is one of the factors and the other is the method of underwriting.

If insurance policies are sold over the Internet, the overheads or the operating costs are usually low. Conservative underwriting or offering standard rates to the insured that rarely fall sick are 2 important factors that influence the premium rate of an insurance policy.

Latest Updated on 30/12/2010