Check your travel insurance policy - know what you're covered for

A recent study conducted by the FSA (Financial Services Authority) revealed that up to 50% of UK travelers do not completely understand what is and what is not covered by their travel insurance policy.

It is important that you make yourself completely aware of every detail before you travel. Knowing what emergency and claim procedures you should take if you were ill or injured while away on holiday is a simple precaution that could save you time, money and hassle if the worst was to happen.

Another possibility that many travellers fail to consider is what would happen if an emergency at home required your immediate return from holiday. Does your policy have a clause ecluding this or will it pay for your travel expenses and entitle you to a partial refund for the portion of your trip you are unable to experience?

Taking the time to read the fine print of your travel insurance contract is tedious, yet not understanding what your travel insurance policy actual does cover could make your holiday far more expensive than you anticipated. Where travel is concerned learn to expect the unexpected, unfortunately common travel emergencies are the most expensive, especially when these are not adequately catered for in your travel insurance policy.

• Trip cancellation. Most trip cancellation insurance will offer you a refund for the cost of your trip if the cancellation was necessary due to certain circumstances. This is absolutely invaluable especially when considering that many major holidays are booked and planed many months ahead, sometimes even a year in advance. The best trip cancellation insurance may also partially refund your expenses if you have commenced your trip but have had to return home early due to an unforeseen emergency.
• Repatriation covers may vary from policy to policy; you should examine your policy to make sure that this policy does extend to cover the quickest and most direct route home.
• Emergency medical expenses and repatriation can cost tens of thousands depending upon your holiday loaction. Travel experts recommend that a minimum of 1m should be provided for in your travel insurance. Certainly the best emergency medical travel insurance will provide for a friend or family member to accompany you in the event of a hospital stay. Ideally your policy should also cover such expenses that would be incurred if your need to be returned home for medical treatment.
• Delayed, lost, or stolen baggage is perhaps one of the most common travel inconveniences and claims. The financial expense associated with missing luggage is typically far worse than a traveler may usually imagine. When faced with the cost of replacing lost essentials, even for the period until your luggage may be returned, is often an unpleasant experience. It is essential that you should choose a level of cover that will reimburse you adequately for replacement. Pay particular attention to the replacement cost of valuables such jewelry and cameras. In many cases a separate policy detailing these items may be the preferred option.
• Public liability insurance is also recommended. Public liability insurance will cover expenses that may be incurred as a result of being sued while abroad. Experts also recommend a sum of up to 1m cover.
• Motor insurance is also a must for any traveler planning to drive their own vehicle while on holiday. Thoroughly check the conditions of your car insurance policy. You may need to upgrade your existing cover or even notify your insurance provider in advance of your plans.

Advanced planning and planning for the unexpected will give you that extra peace of mind and make sure your long awaited holiday is everything you hoped for. If you do not yet have a suitable travel policy it's important to know exactly what cover you need and shop around for the best deal.A directory of popular UK travel insurance companies can be found at UK Insurance Index or compare travel policies using one of the many price comparison websites such as MoneySupermarket or Insure and Go.