Why travel insurance costs are about to skyrocket: Premiums are expected to rise 10 to 20% after the UK leaves Europe
Travelers are encouraged to take out their annual travel insurance policies before the end of the year to avoid price increases after Brexit.
According to comparison site MoneySuperMarket, an annual policy starts at less than £ 20 when traveling to Europe and a little more than £ 45 when traveling worldwide.
However, experts believe that travel insurance premiums could increase by 10 to 20 percent after Britain leaves the domestic market.
Experts believe that travel insurance premiums could increase by 10 to 20 percent after the UK leaves Europe
Vacationers can no longer use the popular European health insurance card even after it has expired.
The card gives you access to government-funded medical treatment in EU countries, although it should not be used in place of proper travel insurance.
Additional features to cover cancellations related to Covid-19 have also been added to a number of policies that experts say will further increase premiums.
When looking for travel insurance, make sure it covers the value of your luggage, personal effects and any cash you have brought with you.
Cancellation coverage should be equal to or greater than the cost of your trip, including excursions.
Health coverage of £ 2 million should be sufficient and personal liability around £ 1 million is recommended in case you are held responsible for property damage or personal injury.
Aim for a small deductible of no more than £ 100 to be paid for your claim.