Skip navigation

Gloucestershire Business News

'Most travellers don't understand their insurance'

Thousands of holidaymakers will have inadequate luggage insurance cover this summer, it has been claimed.

An estimated 18million travel insurance policies are sold every year and a staggering 50,000 claims are rejected, according to International Baggage Insurance (IBI).

Linda Reyes, the CEO of IBI, said holidaymakers would be shocked when they realised the maximum cover for their possessions would hardly pay for a new case, let alone its contents.

She said limits of most travel insurance policies applied to anything in the luggage, including clothes, shoes, accessories and even the case itself.

The average travel policy imposes single item limits on baggage contents that typically don't exceed €350, so thousands of travellers could find themselves seriously out of pocket.

Linda Reyes said reading and understanding travel insurance details were as important as planning the actual trip.

"You have to read the small print and make sure what you carry with you, what is in your luggage and what you expect in compensation if there are problems, matches your expectations," she said.

"Some insurance claims will come as a shock to many people when they receive only a small percentage back in compensation.

"Read the small print and then make sure you understand the small print.

"Don't be fooled into thinking you are covered and then complain if you have not read and understood the small print.

"Travelling with hundreds of Euros worth of clothing and electronic items in your luggage means you will undoubtedly be well over any insurance claim limits."

What do you think? Email 

Picture credit: pixabay

Related Articles

Cotswolds technology used by surgeons around the globe

Technology developed by a pioneering Cotswolds company has been used by surgeons in Australia in a landmark 5000th medical procedure.

Click here for more details

Former rugby star opens new store in Gloucester

Gloucester rugby legend Phil Vickery is launching a flagship store in the city for his Raging Bull clothing brand.

Click here for more details

Ford announces £2,000 scrappage scheme

Ford has launched an incentive for UK consumers to trade in cars over seven years old by offering £2,000 off some new models.

Click here for more details

Small firms call for clarity on business rates software updates

Yesterday marked the Government deadline for delivery of business rates software updates to local authorities.

Click here for more details

Copyright 2017 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.