Credit cards fail to cover families

18 May 2009 08:16

Credit cards fail to cover families

Gold credit cards often only cover the cardholder with travel insurance and not their families, according to an industry expert.

InsureandGo suggested that many consumers believe that they are fully covered when they are not, because they do not spend enough time looking over the details of their holiday insurance policies.

The comment comes after the travel insurance specialist disclosed that 500,000 travellers took trips abroad during the past 12 months without adequate insurance cover.

Perry Wilson, founder of the insurance provider, claimed that consumers are not thinking of the long-term issues.

He said: "What people don't understand is that when you have an accident abroad, medical problems are the highest, and there is a ridiculous amount of money being spent out there which you can't claim back."

Last month, Sainsbury's Finance explained that failing to disclose pre-existing medical conditions will also invalidate a travel insurance policy.ADNFCR-1320-ID-19169614-ADNFCR

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Martin Rothwell, Senior Partner World First Travel Insurance, says:

Often, clients contact us wanting to insure pre-existing medical conditions for somebody who their bank will not insure, but it is important to realise that everyone needs to be insured by the same policy. If your bank wont insure your husband, for example, and you have to cancel due to their illness, you could find you are not insured for holiday cancellation because those medical problems were excluded by your own policy.