Travel insurance companies got nailed in 2010 with the ash cloud problems, airline strikes, and airline failures all leading to more claims than normal. Also, there have been more instances of fraudulent claims, medical costs going up across the globe, and for both the U.S. and UK, pretty weak exchange rates.
This means that insurance rates are going upwards in the next few months, with massive insurer AXA already intending to raise rates by at least 10%. Some providers of cheaper policies are thought to plan increases of 40% or so.
So, if you're planning on traveling for 2011, and of course, if you're reading this site you are, it may be best to get your insurance sorted out now. A little more pricey than most, but excellent for long term or frequent travelers, I recommend WorldNomads travel insurance.
For cheaper policies, there are many comparison sites around, so go digging. Just remember to read your terms and conditions very carefully, especially the terms for supplier failures. I believe those will continue in 2011, possibly with even more companies going to the wall next year.
Also, for those in Europe, get your European Health Insurance Card now as well. It's free, and will prevent nasty surprises should you need to visit a hospital during your trip.
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