Global Courant
Insurer AXA has launched an independent travel insurance policy despite the current financial turmoil as a result of the credit crisis.
Despite the growing economic gloom, the holiday season is approaching and millions of Britons will be preparing to travel abroad during the summer months. But AXA warns that more and more people who arrange their own holidays may be exposing themselves despite taking out travel insurance.
In recent years, the number of independent travelers has overtaken the number of package travelers. Internet access and low-cost airlines have helped escalate this trend – in 2006, more than 16 million independent travelers went on holiday abroad between April and September.
However, insurance provision has not kept pace with the changing profile of the UK holidaymaker and independent travelers may find there are gaps in their insurance coverage, which AXA addresses with their independent traveler cover, available with AXA travel insurance on their website, axa.co.uk /travel insurance.
The new product is an optional add-on costing just an additional £10 for annual European coverage. It covers travelers for a number of areas, such as issues with flight cancellations or delays, missed connections, or customer boarding.
In a package holiday, the tour operator or travel agent is required by law to make suitable alternative arrangements for such contingencies, but the independent traveler must make and pay for his own arrangements.
Edward Dutton, AXA’s Personal Insurance Director said: “We are aware that independent travelers are having issues with their travel insurance and a recent report from Defaqto underlined the need for insurers to provide coverage that helps customers when things go wrong. – the stuff that would normally be picked up by a tour operator or travel agency if it were a package holiday.
Dutton continued: “We believe that the emergence of the Independent Traveler is something all insurers should address; as the Ombudsman noted in his latest report, “There is clearly a disconnect between what insurers intend to provide and the coverage that consumers believe they are buying.'”
The additional coverage provided by this optional extension includes Delayed Departure Compensation for delays of more than 5 hours occurring at the point of departure of any connecting flights or public transport booked on both the outbound and inbound journeys.
The independent travel insurance from AXA
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