UK Insurer Admiral Insurance has announced the launch of its first travel insurance product underwritten and managed by the company itself. Admiral has offered travel insurance to its customers since 2012, but the policies have always been underwritten by a third-party.
Admiral will be offering policies on three levels; Admiral, Admiral Gold and Admiral Platinum. Coverage will be available from single trips up to 365 days, while the multi-trip cover annual policy will allow unlimited travel for individual trips up to 31 days. This can be increased up to 60 days.
Single trip cover will be available at its cheapest for £6.92 (based on Admiral tier insurance for a for a 30-year-old with no pre-existing medical conditions taking a three-day trip to France), whilst multi-trip will be available for £16.23 at its cheapest (based on Admiral tier insurance for a 30-year-old with no pre-existing medical conditions taking a 31-day maximum trip to Europe).
Admiral says that customers will be able to upgrade their policies to winter sports and cruise cover. Catastrophe cover will also come as standard on both the Gold and Platinum polices, and Platinum also includes hijack cover.
“We have listened to what our customers want and need from their travel insurance and incorporated it into our own travel policies,” head of travel insurance at Admiral Cosmin Sarbu said. “People often think travel insurance is only there to help if their flights are delayed or their baggage goes missing but an accident abroad could leave you thousands of pounds out of pocket. According to the ABI, the average cost of a medical claim on a travel insurance policy was £1,300 in 2016. It gives peace of mind, so you can relax and enjoy your holiday.”