Natural Catastrophe Insurance

Preparing for The Unexpected

With the ash cloud causing most of us grief and despair its little surprise that insurance companies have rushed to capitalise on the fear of thousands. A policy is currently been designed to offer holidaymakers peace of mind when they book up that no Earthly anomaly will cost people a holiday. The new insurance policy is said to be called Natural Catastrophe Cover and will cover cancellations for any reason.

Travel insurance company Holiday Extra will be offering this new policy as of July this year to prevent holidaymakers suffering due to unforeseen circumstances. The number of people booking holiday insurance since the eruption of the Icelandic volcano has understandably grew, but previously the insurance available only covered known events. Firms all over the place are looking to create a premium that covers the gap in their services, Aviva are planning amendments to their policy this month (June).

These new policies mean that there is yet another cost to consider when booking a holiday, and while it may be minimal it all adds up. Many people toy with the idea of getting any sort of insurance in the first place risking an uneventful holiday to prove them right, but will be all down to whether it’s worth parting with a few extra pounds to guarantee safety. Of course if you don’t take out this insurance it will be now unlikely for travel agents or holiday companies will show sympathy towards even the worst case scenario.

This new way of thinking is also expected to transfer to cruise holidays also as the fee demanded when booking is much larger and of greater risk to the consumer.

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