Purchasing Travel Insurance after Brexit

Planning a holiday to your second home abroad after 1st January 2021 but are not sure when to purchase your travel insurance? See our blog below for information regarding travel to your holiday home after Brexit.

Why to take out travel insurance policy?

There is a lot of uncertainty around the change and the affect Brexit will have on travel however, if the UK leave the EU without a deal there will be a change to passport validity. Meaning, if you plan to travel to the Schengen area 1 (26 European states who have abolished passport and boarder control) you must have at least 6 months validity left on your passport.

When taking out either a single or annual travel insurance policy to visit your holiday home, there may be no changes to the policy itself however, insurers may increase premium prices, still allowing your cover to be active from the moment you buy it. Having the insurance start when you purchase it, can come as a benefit as some travel insurance policies come with cancellation cover. In unfortunate circumstances and something unexpected happens and it requires you to cancel your holiday, you may be able to claim for any money you are unable to recover such as; flights and accommodation. In principle, your policy is protecting you prior to going away and during your holiday though; please check with your insurers and policy as changes may occur after Brexit.

Examples of reasons to cancel visiting your second home include 1:

  • You may get injured or fall too ill to travel
  • You might be made redundant after you book
  • You could be forced to cancel due to bereavement

What can affect the price of some travel insurance?
As well as the potential increase of premiums after Brexit alone, there are varieties of things that can affect the price of your premium regardless if it is a single or annual policy. The items include:

  • Your age
  • Medical conditions
  • Your holiday destination and duration
  • Any activities e.g. winter sports
  • The level of cover required

Another reason for price increase could potentially be when the EHIC (European Health Insurance Card) becomes unavailable to use, the level of medical cover required in a travel insurance policy may change due to the policy needing to cover yourself for medical bills such as; the cost of repatriation, emergency surgery and e.g. X-ray and CAT scans.

Always declare any medical conditions
When you are in the process of taking out travel insurance, you should be asked to declare any pre-existing medical conditions. Depending on the insurer, it can cause an increase to your premium. If you decide not to declare any pre-existing medical conditions when taking out your policy, you are at risk of your insurance being invalid, especially if you fall ill due to a pre-existing medical condition that you have not declared. This can result in an uninsured claim.

Where should I buy travel insurance?
There are many companies that provide travel insurance all over the world with a majority of them providing different levels of cover at different premium price points. Shopping around for travel insurance is important so you can make a decision for which level of cover fits your trip the best. For example, taking expensive contents may increase your premium however; you may want to take this premium increase to insure you are covered if the worst was to happen.

*Please note, if you are buying your policy before 1st January 2021, check with the insurers can still provide cover after Brexit.

Travel insurance can be just as important as your Holiday home insurance therefore, finding the right cover is important. At Intasure, we can provide insurance across 42 countries and can cover for both unoccupied and occupied periods. After Brexit, we are still able to provide Holiday Home insurance to EEA residence with the same level of cover. To find out more about our holiday home insurance click here.

The Schengen area countries include: Austria, Belgium, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden and Switzerland.

*The opinions and views expressed in the above articles are those of the author only and are for guidance purposes only. The authors disclaim any liability for reliance upon those opinions and would encourage readers to rely upon more than one source before making a decision based on the information.

Ref: FP1193-2020