Many people will be looking forward to their summer break at this time of year as even in the middle of the credit crunch holidays abroad are the norm.
For many, this years summer holiday will be a struggle as they cope with the increased costs of living associated with the credit crunch.
But just imagine how much worse your financial woes would be should you jet off without insurance and require medical attention.
The Association of British Insurers have released figures which show that should you need an air ambulance in the United States to bring you back to the UK it would cost a cool £35,000.
Even closer to home in destinations such as the canary islands an air ambulance home would cost a staggering £16,000.
So sensible travellers among us will be opting for travel insurance. However, many well meaning travellers have found it increasingly hard to find travel insurance which will accept them without costing an arm and a leg.
Those with existing medical conditions can have a particularly hard time finding insurance, with many mainstream insurers refusing to cover them due to the increased risk they pose.
Peter Gerrard, head of insurance research at moneysupermarket.com said: “One of the most common reasons for being refused is if you have a pre-existing medical condition.”
He went on to say that there is still a chance you will be approved saying: “if this refusal is a response to an online application, it might not be that you are ineligible. Instead, the insurer may just require some additional underwriting from you, which can be carried out over the phone.”
If this approach still does not work, there could be hope still, found by turning to specialist insurers who cater for those with medical conditions and may not be able to find insurance elsewhere.
Mr Gerrard warned that even with specialist insurers you should always double check that your particular condition is included in their cover. Free Spirit and Medici are two such insurers which those with pre existing conditions are advised to check out.
Even with niche insurers though, your premiums are likely to be high with certain conditions. Spokesperson for the Association of British Insurers Kelly Ostler says that your premiums will vary widely depending on the severity of your condition.
She said that “If you have well-managed asthma, for example, it might be that your bargain £9 travel cover for a week costs £9.50 instead, but premiums for serious conditions like terminal cancer or a heart problem will be a lot higher as treatment abroad will be more expensive, as will the cost of getting you and your family home.”
Basically if you have a condition that will greatly increase your chances of needing medical attention abroad, you are not going to be able to escape higher premiums.
Whatever your premiums though, they are surely much more manageable than the cost of risking travelling without insurance and paying for your own treatment.
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