Can I have two travel insurance policies and claim on both?


I am jetting off on holiday break to Egypt with my family in August. Acquiring witnessed the airport chaos and flight cancellations this yr, just one of the to start with issues I did immediately after I booked was to just take out a decent travel coverage policy. 

But due to the fact then, I’ve identified out that the current account I not too long ago opened gives me free of charge globally vacation coverage – so now I have two a lot of address for the exact excursion.

With any luck , I won’t require to make a declare, but I am not sure what will happen if I do. 

Would staying double insured invalidate my procedures? If not, could I claim on both and probably get double the pay out out? T.M. through email. 

Doubled up: Our reader has found themselves with two insurance policies for the same trip

Doubled up: Our reader has observed on their own with two insurance policies guidelines for the same excursion

Emilia Shovelin of This is Dollars replies: Having the appropriate vacation coverage – and using it out as before long as you book your holiday getaway – is in particular crucial at the instant. 

With global journey at its peak and airports at breaking point, having out a comprehensive plan with disruption protect seemed like a reasonable shift. 

However, you have considering that acquired that your existing account presents both of those you and your family full around the world protection.

This is a quite popular element of the massive banks’ premier accounts, but you failed to realise you were being included until just after you had currently paid out for independent insurance for your Egypt vacation. 

We clarify the policies around acquiring many vacation coverage policies, as properly as other kinds of protect this kind of as motor vehicle, household and wellbeing insurance policies. 

Is it ok to have two vacation coverage procedures? 

The greatest concern when it comes to owning two vacation coverage guidelines is which company you flip to if you require to make a declare.

If you have double include, a person insurance provider could ask the other to make a contribution to your payout. 

This could substantially delay your claim, and you could also be left spending two extra expenses.

Generating two different claims, instead than just one particular, could also necessarily mean a rise in your insurance policies premiums in the upcoming.

Weight off your mind: Travel insurance can cover you for anything from lost luggage to cancelled flights and emergency medical cover

Pounds off your mind: Journey insurance policy can protect you for everything from misplaced luggage to cancelled flights and crisis professional medical include

‘It’s greatest to insure at the time and insure very well,’ claims Helen Phipps, director at Assess The Market place. 

‘If you want to make a assert and have two coverage policies, you are needed to sign up the claim with the two insurers and inform them you have various lively procedures.

‘If you have two insurance coverage procedures and need to have to make a claim, the two insurers could advise that the other just one need to pay out. 

‘Ultimately, if both equally insurers finish-up having to pay out a share of expenses, you could be subject to two excesses.’

Though getting two insurance policy procedures isn’t unlawful, getting one fantastic 1 is ordinarily a greater guess. 

Ceri McMillan, a GoCompare journey insurance coverage pro, provides: ‘It’s not unlawful to be dual insured, but it can make saying far more intricate. 

‘The additional difficult a assert – and the much more insurers concerned – the trickier it can be to get sorted.’

So which 1 really should you terminate? 1st, you should really take into account what your travel coverage with HSBC offers in comparison to the policy you bought when you booked your holiday getaway.

You will generally want to stick with the coverage that handles the most distinct eventualities, and pays out the largest sums.  

> We demonstrate what to glimpse for in a fantastic travel insurance policies policy right here.  

Phipps explained: ‘It’s a superior concept to very carefully assess insurance policies and selling prices. The coverage provided by your financial institution may perhaps protect you, but it could be quite fundamental. 

‘Whereas a standalone coverage is independent to any other provider, and specially satisfies your needs.

‘If you determine you no more time will need a coverage, terminate it.’ 

What about motor vehicle or residence insurance policy? 

With property insurance plan, it is common to choose out structures, and contents insurance policy with two distinct providers and this does not rely as dual coverage. 

Having said that, as with vacation insurance, if two insurance policies deal with the identical point it could make it much more tough to make a declare. 

When it will come to automobile insurance policy, professionals say that motorists often unknowingly uncover by themselves spending double rates when they never need to have to. 

Darryl Bowman, from the adaptable car insurance provider, Cuvva, states: ‘With motor insurance policies it can come up innocently. 

‘For illustration, somebody could just take out short term coverage on a friend’s car, and then it transpires that their friend’s plan addresses additional drivers.

No claims: if you have two car insurance policies and you need to make a claim, you could be stuck waiting while your insurers decide who is responsible for paying for your claim

No promises: if you have two vehicle insurance coverage procedures and you will need to make a declare, you could be caught waiting although your insurers choose who is responsible for paying for your assert

Bowman recommends you cancel any more motor vehicle insurance plan rates if you uncover on your own with dual coverage.   

He claimed: ‘Unless 1 insurance provider is covering for some thing added, there is no will need to pay back double for the exact same thing. 

‘You also run the hazard of dropping two no-promises special discounts with equally insurers.’

It can be not unlawful to have two vehicle insurance policies for the similar automobile, but it is illegal to assert the comprehensive amount of money from two diverse insurance policies corporations.

Bowman adds that it is really well worth checking the terms and situations, as in some scenarios keeping two auto insurance plan procedures could render them invalid. 

He states: ‘Some insurers might contain a clause in their policy stating that if you hold twin insurance for the very same hazard and really don’t provide composed detect to the insurer that you might be protected elsewhere, you may well operate the chance of your coverage getting voided.

Can I have two lifestyle coverage policies?

Compared with most other sorts of insurance policy, about-50s existence insurance coverage, frequently applied to include funeral and other charges right after anyone passes away, is a single spot where by it is reasonably regular to have additional than a single coverage. 

A spokesperson from insurance company SunLife reported: ‘Over 50s existence insurance plan is a great instance of insurance policy that you can have extra than one policy of. 

‘Many consumers take out one particular at 1st and then, as funeral expenditures rise about the decades for example, they could choose out a different prepare to strengthen their deal with.’ 

However, there is sometimes a monetary address restrict so if you have various procedures you need to look at you are however within just that.  

It is also worthy of examining your insurance plan coverage to assure there are no conflicts, or to see if you have an ‘excess clause’.

An ‘excess clause’ suggests you could possibly be able to declare from a 2nd insurance plan plan if the whole total of your declare exceeds the protect restrict of your 1st policy.

How to compare travel insurance coverage

The quickest and best way to save income on travel insurance plan and compare the very best policies is to use a comparison internet site.

When benefits will broadly be the very same throughout most comparison web-sites, they may well marginally differ, so it is worthy of examining a couple. 

Also look at insurers this sort of as Direct Line and Aviva that do not look on comparison websites and if you have prior major health-related concerns take into account a professional insurer or broker.

This is Cash has partnered with Look at the Industry to support you come across excellent travel coverage. You can examine costs, go over, capabilities and unique factors by way of the website link under.

> Journey insurance plan: Check out guidelines with Compare the Current market


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