As exchange rates continue to fluctuate, adequate protection from your Travel Insurance can help cover amplified costs of medical bills and emergency repatriations abroad. Recent figures of claims made by Coutts clients exemplify this; from September 2014 to October 2016, total Travel Insurance claims have been settled in excess of £6.2 million. Of this, over £3.2 million covered the cost of holiday cancellations, whilst medical expenses accounted for £1.9 million of claims.
Indeed these statistics make for stark reading; however, they become somewhat more important when we consider the costs an uninsured client could incur in the U.S.A – the most sought after destination of Coutts clients based on the total incurred claims for the same period. An air ambulance from Florida to the UK, in the event of serious illness or injury, can cost up to £55,000, whilst an air ambulance from San Francisco or Los Angeles can add a further £20,000 to this total. Furthermore, with the ski-season now upon us, it is also worth bearing in mind popular European destinations, where a helicopter evacuation from the European pistes can cost up to £30,000.
Our Coutts Travel Protection*, which has been rated 5 Star by Defaqto, provides peace of mind with cover for emergency medical expenses and cancellations, as well as cover for unforeseen eventualities such as baggage or passport loss. With no upper age limit, cover extends to the protected client, clients partner and dependent children under 18 years of age and living at home or those within full-time education up to the age of 23 years old. Discover more about Coutts Travel Protection or speak to your dedicated Private Banker.
*Travel Insurance is underwritten by Cigna Europe Insurance Company S.A.-N.V. and Loss Damage Waiver Insurance is underwritten by White Horse Insurance Ireland dac.
17 Feb 2017Our February Ask the Investment Team client call focused on the UK property market and the potential effects of Brexit. Topics covered included what effect Brexit might have on property values, where to look for yield in property outside of London and whether banks are going to withdraw from the UK and what effect this may have on residential and commercial property.
13 Feb 2017
10 Feb 2017