With the 29th March looming and, at the time of writing, no clear path to an orderly exit from the EU known, we have been receiving a growing number of calls from our Clients, wondering what happens to their insurance, if we leave without a deal.

I appreciate this is all very complex; if the politicians can’t work things out, how can a mere insurance broker like me, go one better?

Well, what we can do, is to look at the risks facing balloonists and see if there really is anything to worry about, whether we leave with, or without, a deal.

There are 3 main areas I wish to look at:

balloon insurance.

retrieve vehicles.

travel insurance.

Balloons

The liability part of a balloon policy reflects the compulsory insurance requirement brought in by the EU in 2004. Assuming a deal, all EU legislation will be commuted over on D Day, and will remain legal until our Government decides to either do away with it, change it or just leave it as is.

My guess is the latter. Whilst it is not perfect, it is sensible to require all aircraft owners to have minimum liability cover. The certificate that is issued to confirm cover, is familiar to all and accepted by all European meets, where most people who fly overseas go. The wording of the certificate currently states that cover applies “anywhere in the EU”. As the UK will no longer be in the EU, all certificates will be invalid on 30th March 2019 and will need amendment.

Cars

Motor insurance will also be affected by our departure. The older members amongst you will remember the days of the green card and Spanish bail bond. These were documents that all motorists had to obtain, prior to any trip to European countries, so their comprehensive cover, enjoyed in the UK, was suitably extended to the countries they planned to visit.

Aviva, one of the largest motor insurers, has set up a helpline, specifying that 2 weeks’ notice will be required by policyholders, intending to visit EU Countries, after a no deal Brexit, to obtain a green card extension.

Travel

The reciprocal medical arrangements that are currently enjoyed, may well be lost after Brexit – The British Medical Association has drawn up a paper on Brexit and it is clear, that in the event of no deal, these agreements would immediately cease.

Our view is that unless one is travelling for a very short period, with minimal luggage, and at low cost, travellers should always consider travel insurance. We frequently deal with claims for cancellation, lost baggage and medical issues whilst away and the only way to protect yourself from such risks, is to insure with a reputable travel insurer.

In conclusion therefore, things are going to change after 29th March. Depending on whether we leave with, or without, a deal, will determine just how much interruption there will be to normal life.

If you would like to chat through your options you can call me, Peter Dowlen on 01494 450 450 or email pdowlen@jbennett.co.uk