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Bulgaria: Holiday and Travel Insurance

Overview

Holiday/travel insurance is recommended for those whose health and possessions aren’t covered by an existing policy while travelling. As you’re no doubt already aware, innumerable things can (and often do) go wrong with a holiday, sometimes before you even reach the airport or port, and particularly when you don’t have insurance.

Travel insurance is available from many sources, including travel agents, insurance agents, motoring organisations, transport companies and direct from insurance companies. It isn’t wise to depend on travel insurance provided by charge and credit card companies, household or car insurance policies or package holiday companies, none of which usually provide adequate cover (although you should take advantage of what they offer). For example, car insurance may include personal accident and health insurance (e.g. through Mondial Assistance) even if you don’t take your car, but won’t cover you for loss of belongings or cancellation of flights.

Before taking out travel insurance, carefully consider the level of cover you require and compare policies. Most policies include cover for loss of deposit or holiday cancellation, missed flights, departure, delay at both the start and end of the holiday (a common occurrence), delayed baggage, lost or stolen money, luggage and other belongings, medical expenses and accidents (including repatriation if necessary), personal liability, legal expenses and a tour operator or airline going bankrupt.

Medical expenses are an important aspect of travel insurance and you shouldn’t rely on reciprocal health arrangements, where these exist (see Reciprocal Health Arrangements on page 205). The minimum medical insurance recommended by experts is €500,000 in Europe. If applicable, check whether pregnancy-related claims are covered and whether there are restrictions for those aged over 65 or 70. Third-party or personal liability cover should be around €1.5 to €2m in Europe. Always check any exclusion clauses in contracts by obtaining a copy of the full policy document (all the relevant information isn’t always included in the insurance leaflet).

The cost of travel insurance varies considerably according to your destination and the duration of your trip. You should expect to pay around €15 to €30 for a week’s insurance in Europe, around €25 to €35 for two weeks and around €60 to €70 for a month. Premiums can be higher for those aged over 65 or 70. Many insurance companies offer annual travel policies from around €75 to €100 that are good value for frequent travellers, although you should check exactly what is covered (or omitted) as these policies may not provide adequate cover.

Although travel insurance companies gladly take your money, they aren’t usually so keen to honour claims and you may have to persevere before they pay up. Always be persistent and make a claim irrespective of any small print, as this may be unreasonable and therefore invalid in law. Insurance companies usually require you to report a loss (or any incident for which you intend to make a claim) to the local police (or carriers) within 24 hours and obtain a written report. Failure to do this usually means a claim won’t be considered.

© Survival Books Limited 2006

“Buying a Home in Bulgaria” 1st Edition, Dougal Robertson.

Reproduced with the permission of Survival Books Limited.

Further information on this topic can be found in “Buying a Home in Bulgaria” 1st Edition, Dougal Robertson.

For extensive information about buying a property in Bulgaria, you can purchase this book at www.survivalbooks.net

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