Having the right travel insurance saved me from the nightmare of the ash cloud
Are you heading off on holidays? Well, now more than ever you need good travel cover. Here are some timely tips from CIARAN MULLIGAN, CEO of Blue Insurance, Ireland’s biggest insurer of holidays. He has some good advice on gadget and car cover too. Top tip on holiday cover? Make sure you buy a policy that suits your needs – if you have paid €5,000 for a holiday, there is no point buying a policy with €1,000 cancellation and curtailment cover just because you are saving €10. Biggest mistake people make? Not reading the policy correctly. Read the conditions/exclusions applicable, especially around medical conditions. If you have any medical condition or are taking medication then check the requirements of a policy. You will normally have to screen for that condition. Worst case you’ve heard of someone losing out because they weren’t covered? A medical expenses claim in Thailand for €25,000 – the insured person was not wearing a helmet on a motorcycle over 125cc, alas. We’re advised to bump up our cover for travel disruption but shouldn’t that be covered anyway? Consumers are always looking for a comparison of various cover and prices. Travel disruption is automatically covered on Premier Plus policies through our travel agent network. On our direct policies such as multitrip.com, travel disruption is an optional add-on but prices are competitive. Best tips for car/motor cover?
Shop around – there is value in price and cover if you do.
Add a second driver such as a spouse – this tends to reduce your premium.
Don’t overvalue your car – you will only get the market value anyway but may pay a higher premium.
Voluntary excess – if you willing to pay a higher excess on claims, this will reduce your costs.
Pay in full – finance arrangements generally incur interest.
Buy online – many insurers or brokers offer discounts online. You are pioneering two-year cover. How much can you save? You can save up to 10% on premiums including fees by taking a two-year motor policy – plus your premium will not increase during the two years even if you have a claim. Are we getting on top of compo claims – and will car cover costs ever, ever come down? Compensation claims are starting to fall a little but a lot more still needs to be done to bring them in line with UK limits. We have seen a small reduction in motor premiums in 2018. Gadget cover? Come on! Do people really need to insure everything? Yes, you need cover with gadgetinsurance.com! You might buy an iPhone for €99 as part of an upgrade or new contract but to buy a new iPhone out of contract you are paying up to €1,000 or more to replace that phone. Excess is €75 to replace a screen on an iPhone X, which is over €350. It’s worth noting that if you get your phone fixed in a shop not approved by Apple, you will forfeit the warranty. Favourite holiday? My favourite place to visit in the world is New York. Have you ever needed to claim? Yes, I went to Dubrovnik with my folks for a few days. The ash cloud closed Dublin Airport but, because we had travel disruption cover, we were able to fly to London and stay in a hotel. And because Dublin Airport was back open the next morning, we flew home immediately. If I didn’t have travel disruption we would have had to wait over a week to fly back… I don’t think my parents could have stuck me for another week! Guilty pleasure? Lots of holidays – I am ‘The Fabulous Traveller’ after all. Best financial advice? Always look for good value, no matter what you do or how wealthy you are. What would you do if you were made finance minister tomorrow? Scrap USC, reduce capital gains tax and offer tax relief for landlords who cut rent for tenants to a reasonable level.