Marcus Hearn MD warns on multi-trip insurance

Report by Jane Archer

THOUSANDS of annual multi-trip travel insurance policies are giving clients less than 12 months cover.

Marcus Hearn managing director Jeffrey Klipp said wordings on policies have been tightened up to make premiums cheaper, resulting in some policies taking effect from the date it was sold, not the date of the first holiday.

Klipp said: “If a client buys a two-week holiday and a single trip insurance policy on November 1, for travel on August 1, the policy does not take effect until the holiday starts but free cancellation cover is in place from the date that contract was issued.

“It should be the same with annual cover, but there are now some policies on the market that became valid from the date of issue. A client who does not go on holiday until three months after they bought the insurance only has nine months left on the policy,” he said.