Honesty is the Best Policy for Travel Insurance

Recent
research carried out by comparison website MoneySuperMarket has found that one
in ten (12 per cent) Brits with a pre-existing medical condition are running
the risk of invalidating their travel insurance policy by not declaring it.

The
report found that nearly half (45 per cent) of those planning to travel have an
underlying medical condition which should be declared to their travel insurance
provider, but only 85 per cent actually do. According to MoneySuperMarket’s
findings, a third of those surveyed deliberately chose not to declare their
condition in order to get a cheaper policy.

But
what about those who are not intentionally withholding information from their
provider? The remaining two thirds of those 45 per cent of holidaymakers that
have a pre-existing medical condition said that they did not declare it because;
it had not caused them any issues recently; their insurance provider did not specifically
ask them or they did not know they needed to tell their insurer in the first
place.

The
majority, then, are unaware about the necessity of informing their insurance
provider and it is perhaps just an innocent oversight on their part.

For
anyone with a long term pre-existing medical condition – such as a heart
condition – it is possible to live with it for many years, and if following
proper medical advice and treatment, does not impact the patient’s life on a regular
basis.

Of
those two thirds of holidaymakers who did not declare their pre-existing
medical condition, some claimed their insurance provider did not specifically
ask them about any such condition. Undoubtedly, the majority of travel
insurance providers will ask all the relevant questions when arranging cover,
but in some cases, the questions may be hidden in the pages and pages of terms
and conditions. In any case, both parties should share some of the blame.

Travel
insurance providers have a responsibility to make sure their customers are mindful
of what should be declared and the costs they might incur if their policies are
voided – with information set out clearly and honestly.

Holidaymakers
should be aware of what constitutes a pre-existing medical condition, and
understand how not declaring it carries a huge risk on their part.

A
pre-existing medical condition is the term used that refers to an illness or
disease that you have had advice for, symptoms of or treatment for. Common
conditions are considered to be heart conditions (which can include high blood
pressure), cancer, joint and bone conditions, diabetes, asthma and other
breathing conditions.

Travel
insurance for a person with a pre-existing medical condition is more expensive
because of the elevated level of risk. When faced with the comparison between
that and a cheaper insurance, it is perhaps, understandably, more appealing to
choose the less costly option.

However,
taking that risk and later finding out your provider will not pay out on the
insurance if something happens to you whilst abroad will mean you could face medical
costs that run into the thousands of pounds, if not more. It is essential that
people understand that fact – being honest about a pre-existing medical
condition may cost you more in the short term, but could end up saving you a
significant amount of money – and stress – if the worst case scenario were to
happen.