Most 18 year olds who are planning to head off on a Gap year usually have far more important things to worry about than some solid Travel Insurance.
Youngsters often live for the day and are not usually known for having large amounts of money to through around. Insurance is therefore often not that high on their ‘To Do’ list.
Health coverage is obviously the most important part of a travel insurance policy but there are also real risks towards personal property such as cameras, iPods and mobile phones. Remember, 90% of all Gap yearers will be living in cheap accommodation and travelling with rucksacks - perfect hunting ground for thieves
Going On A Gap Year - Look For A Specialist Travel Insurance Policy
Normal travel insurance policies only last for a certain period, perhaps a maximum of 30 days continues travel even if you get a yearly policy.
The important thing is to therefore get what's called an Extended Travel Policy or as some refer to it specialised travel insurance. Most, if not all Travel Insurance companies offer these types of policies.
10 Gap Year Travel Insurance Points To Think About
- Do your research and don't buy the first or even second policy you find or are offered
- Gap Year insurance is popular these days so it's ok to buy on the interest where prices are cheaper. Using a broker will cost more but a good broker will be able to tailor make a policy for specific needs
- Don't buy a 100% worldwide policy if you're not going to certain countries. For example medical and legal costs are expensive in the US so if you don't plan to visit then make sure countries such as this are excluded
- Look at the sports cover and see what's covered, or not. If going to New Zealand or Australia there's a good chance you'll be taking part in bungee jumping, white water rafting and scuba diving etc - not all policies cover these and other outdoor sports. Other policies have restrictions such as what level of rapids are included/excluded. A rapid classed as '1' is little more than a fast flowing river but a class of '4' is getting into serious white water. Some policies might only cover only rapids of 1-3
- Visit the Foreign & Commonwealth Office (FCO) website and see if they're advising UK citizens not to visit certain countries such as in Africa or perhaps the Middle East. If the FCO advises against non-essential travel then your insurance policy won't be valid
- Make sure you have a copy of the insurance policy (also write down the policy number and helpline telephone number separately) and your parents have copies as well. It's also a good idea to swap photocopies with any friends you're travelling with
- If you are going to claim against anything then all tickets, receipts and other pieces of proof must be kept. One idea is to post any relevant information home so you can't lose it
- When sorting through different policies and quotes the most important thing is to look for medical cover (£5 million cover is more than enough though). How much cover you’ll get for your personal possessions, late flights etc is not nearly as important
- It's tempting to try and make up a claim, iPod and camera were stolen. But you can bet the insurance companies have heard it all before, and know all the tricks so play it straight and don't try to get too clever. Cheating an insurance company is a criminal offence
- On an unrelated matter but a useful tip - When it comes to money and withdrawing it from ATM machines consider opening an account with The Nationwide. Their cashpoint card offers excellent exchange rates alongside charging no transaction fees. This feature alone can save hundreds of pounds over the course of several months or a year
Summary
Gap year insurance is important and obviously offers parents peace of mind. The costs can vary though with yearly policies ranging from £200 to well over £600 so take the time to do plenty of research, and of course enjoy your travels!
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