Tuesday 26 September 2017

Holiday insurance cost up by a quarter since 2009

Charlie Weston Personal Finance Editor

TRAVEL insurance premiums have shot up by 26pc since 2009, a new survey has found.

The average cost of a premium for a family has jumped from €153 three years ago to €184 now for an annual policy, a survey by the Consumers' Association of Ireland found.

At the same time, insurers have lowered the value of the cover they provide for people who have to make a claim, the survey in 'Consumer Choice' magazine found.

When it comes to claims for medical expenses, a number of insurers have lowered the maximum amount of money they will pay out by up to a quarter.

The research found that E-bookers is one of the cheapest providers of travel cover. It offers a family of two adults and two children an annual multi-trip policy for €97.

But researcher Roisin Moloney warned: "Many of the benefits offered by E-bookers have decreased, including personal accident cover, medical cover, baggage delay cover, money loss and cancellation cover." The company, however, has increased the cover for loss of personal property.

The VHI has questioned the survey after it was left out, despite having the largest market share and offering some of the most competitive deals.

VHI's Multitrip costs €95 for a family for a year, and €49 for an individual for a year.

Irish Independent

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