Vacationers usually buy the most affordable travel insurance coverage that the comparability site has suggested, but this can usually mean that you don’t get the crucial security when you want it most.
Now there’s a brand new travel insurance coverage comparison site known as Albert and Eddie, which ranks insurance policies based primarily on what you want, slightly on the low end.
The web site could possibly be especially useful for people with pre-existing medical situations as it aims to help them discover specialized insurance coverage offers in the near future.
Albert and Eddie try to unravel a typical downside with travel insurance coverage: customers buying one thing at a low price that doesn’t quite match their expectations.
On and off: A brand new travel insurance coverage website known as Albert and Eddie is supposed to make it easier for people with medical conditions to get travel insurance coverage.
With the number of comparison sites on the rise, Brits tend to buy insurance cover primarily on the basis of value, and travel insurance cover is no exception.
Cheap insurance policies are low cost – they are usually not as much hidden as more expensive ones.
That’s not a problem, offering a budget deal does everything a traveler wants.
However, if the cover does not provide sufficient cover, the results can be catastrophic, and holidaymakers can experience medical bills in the tens of hundreds of kilos.
Although all insurance coverage contracts clearly state what is covered in the huge print, it is easy for buyers to misunderstand or ignore it.
Another widespread disadvantage is for vacationers with pre-existing medical conditions who struggle to get protection from current comparable sites.
People in this group currently have three choices with travel insurance.
They can go abroad without cover, they will try to get safety through comparison sites or spend time contacting specialist insurers.
To discover this downside, Albert & Eddie is a brand new comparison site powered by the big Tifgroup travel insurance coverage.
This identity is a nod to the physicist Albert Einstein and the inventor Thomas Edison, whose invention amazed Albert and Eddy’s workforce.
How are Albert and Eddie doing?
We collated the travel insurance cover numbers from the brand new site and from the top 4 comparison sites to see how premiums and protection stack up.
We seemed to have chosen one-way travel insurance cover for a week-long trip to France for a traveler with extreme bronchial asthma.
Cover with Albert and Eddie for one specific person per week starts from £11.12 from insurer Alpha 175.
This value is true given an aggressive set of quotes from major comparison sites.
The most cost-effective cover elsewhere for this traveler came from Confused.com and GoCompare, each offering £6.30 cover with Post Office insurance.
On CompareTheMarket it was £9.72 from insurer Virgin Money, while on MoneyGrocery store premiums start from £11.64 from Admiral.
Albert & Eddie is as user-friendly as any major comparison site, however it takes a little longer to answer all the questions on the medical screening part, which is an efficient factor.
In addition, you must write down all the medicines you take for medical reasons.
Amber Moon, Model Supervisor at Albert & Eddie, said: “Because it’s relatively quick and easy, holidaymakers are used to using comparison websites to buy travel insurance cover.
“This has led to an overemphasis on the cost of the policy rather than the coverage it provides.”
Buying the wrong cover can cost you £20,000
Travelers who want to secure their own travel insurance coverage, yet don’t have accurate protection, can find themselves paying high fees.
Tifgroup shared some of the worst travel insurance coverage horror stories they’ve seen.
In one case, a 28-year-old man was left with a £20,000 medical bill after suffering serious injuries and a fractured skull after a motorbike accident in Thailand.
Although he had worldwide travel insurance cover, he did not pay any medical bills because he had not been in the UK for more than 31 days.
Another Scottish man has been left with a £20,000 hospital bill after suffering a coronary heart attack but was on holiday in Tenerife without travel insurance cover.
However, because he had forgotten to state on his insurance form that he had bronchial asthma, the company refused to cover his rates.
Check the bin: New website offers alternative to two medical screening tools, custom and conventional
Albert and Eddie can also be useful for pre-existing medical situations, as it is the only comparison site that uses two medical screening tools as default alternatives.
By applying, therefore, customers with medical conditions can find an additional suitable cover in the near future.
There are two main verifiers on the market that are used by travel insurance providers, Protectif and Verisk, and therefore each works in several ways.
Protectif shows what medicines customers are taking. This forces them to discover all of their well-being points that they might otherwise overlook, meaning there will be no surprises later.
Verisk seems to be the same as in medical situations and assess danger differently.
As a result, each of these can produce very different quotes based on the buyer’s stated medical situation.
Tony Brown, Director of Underwriting at Tifgroup, mentioned: “Comparable sites only work with one of them, Veriska.
“This can discourage or disappoint a customer if they can’t find affordable coverage on price comparison sites, and can even discourage people from traveling if they can’t get affordable coverage or no coverage at all.”
“Until now, the only alternative for people with complex medical conditions was to spend time researching all the specialists individually to get cover for their trip.
“It can be a challenging and time-consuming job that can take many hours.”
When asked how thorough the medical screening tests are on comparable websites, customer champion Martin James said: “Basically. Comparison sites work because they give you information in a short amount of time using a pricing method.
“The sooner it’s necessary, the more likely you’ll be stuck with that method. But these questions usually only come up when you click on the insurer’s website. And even then, I don’t think the exclusions or penalties are nearly enough.
What comparison sites say
Matthew Harwood, Qualified Life Insurance Cover at Confused.com, said: “We aim to help as many customers as possible, including those with pre-existing conditions.
“That’s why we cooperate with a wide range of travel insurance providers. And that means we can offer guaranteed quotes online to over 90% of customers with pre-existing conditions, meaning those who apply are more likely to find the right policy for them, while also comparing prices.
A spokesperson for Compare Market said: “During the travel insurance quote process, all our customers are asked if anyone in the traveling party has a pre-existing medical condition, is on a waiting list for treatment(s), or is undergoing treatment. medical examination.
“Those who say yes will be asked additional questions about their condition(s). This allows providers to return the most relevant results to our panel.
“It then displays a series of results and allows the customer to adjust the filters to select a policy that meets their needs.”
MoneyGrocery and GoCompare have been contacted for the note.