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I am taking a holiday next month and want to get insurance for my luggage. How should I do this? Should I just get travel insurance?
Greetings,
There are several ways to insure your luggage.
You can add coverage for simple theft away from home to your household insurance policy if it is not already included. This insurance pays out a benefit to replace the cost of stolen luggage. If you want damages and loss to be covered too, you can add special luggage insurance coverage to your househod insurance policy.
Because you have to cover the portion of costs which falls below your deductible, this insurance normally only pays off if the total value of your luggage is relatively high.
You can also take out travel insurance with luggage insurance coverage. Certain travel insurance policies also cover luggage delays and will compensate you for the cost of buying necessary items like clothing and toiletries if your luggage is delayed for a certain amount of time.
It is worth noting that some credit cards provide complimentary luggage insurance when you use them to pay for your trip. If you use a credit card to pay for flights anyway, check your card's benefits to see whether luggage insurance is included.
Some airlines are quite accomodating in the compensation they provide when luggage is delayed, damaged or stolen in transit. While having luggage insurance is a good backup, filing a complaint with the airline involved can also be worth your while.
Best regards from Moneyguru
More on this topic:
Guide to insuring against simple theft away from home
Guide to avoiding overlapping insurance
Swiss credit card insurance benefits explained
Household insurance comparison
Travel insurance comparison
