Eyjafjallajökull Volcano
If ever there was a case that highlighted the need for an insurance broker, the recent eruption of Iceland's Eyjafjallajökull volcano is it.
Sure, arranging your own travel insurance is easy; some financial institutions even give it away for free! But when was the last time you actually took a look and understood what you are covered for.
Travel insurance varies dramatically from company to company and it can be very complicated to understand. An insurance broker can find exactly the right policy for you and your family and, should the unthinkable happen, will handle the claim on your behalf.
To highlight the complexity of the different levels of cover that an insurer will offer, here is a list of which insurers paid what whilst Eyjafjallajökull went on the rampage.
Aviva: Maximum £250 for delays
AXA: no cover for standard policies. reasonable costs for independent traveller policies
Barclays: reasonable costs while away
Churchill: reasonable costs or cancellation
Columbus Directt: Delayed British departure only
Direct line: Cancellation costs only
Direct travel: Costs not covered by travel firms
HSBC/First Direct: expenses for travel and accommodation
John Lewis/GreenBee: additional costs, but not food
Halifax and Lloyds TSB (Lloyds Banking Group): reasonable costs
HSBC: reasonable costs for travel and accommodation
Insure and Go: no cover
Marks & Spencer: accommodation and travel costs
More Than: Delayed departures only, up to £100 per person
Nationwide: Delayed departures only
Natwest: no cover for those stranded abroad. reasonable costs for cancellation
Post Office: Delayed departures, abandonment and accommodation covered. No cover for costs able to be reclaimed from airline or other source
SAGA: no cover for those stranded. Up to £5,000 for unused travel, accommodation costs
Santander: Will pay for delays up to £100 and up to £5,000 on cancelled holidays
Swiftcover.com: Will automatically extend the period of cover and pay up to £25 per person, per day up to a maximum of £400 to cover costs for those stranded.
Tesco: reasonable costs not paid by airline
Virgin Money: no cover
