Virgin Money travel insurance review

28 min Read Published: 23 Sep 2021

virgin money travel insurance review

Travel insurance is an insurance policy designed to pay out if you fall ill or require emergency treatment whilst abroad. It can also cover the cost of lost or stolen baggage or cancellation if you are unable to travel. In this independent review, we take a look at Virgin Money travel insurance, including what it covers and how much it costs. We recommend that you read the review in full, however, you can jump to specific sections of the article using the following links.

What is Virgin Money travel insurance?

Virgin Money travel insurance claims to offer you 'travel reassurance, whatever your budget'. Virgin Money travel insurance policies are available in four tiers, ranging from Red to Black, with Black being the most comprehensive, providing unlimited medical expense cover.

Virgin Money travel insurance is administered by Insure & Go Insurance Services Ltd and underwritten by MAPFRE Asistencia which means that Virgin Money is an insurance intermediary and arranges the travel insurance policy on behalf of the insurer. If you need to make a claim, Virgin Money acts on behalf of the insurer when processing the claims. Virgin Money receives a commission from the insurer for arranging the insurance but does not receive a fee from the consumer for arranging the policy.

Virgin Money travel insurance key features

  • Option for unlimited medical expense cover
  • Cover if your baggage is lost, stolen or delayed
  • Trip cancellation cover
  • Option to protect your personal items with Gadgets & Valuables cover
  • Pre-existing condition cover (some serious conditions may not be covered)
  • 24/7 emergency medical helpline
  • Virgin Group discounts
  • Adjustable excess amount (can choose to double the excess or pay no excess at all)
  • Ability to cover winter sports, cruises, business trips and travel disruption

Virgin Money travel insurance policies

Virgin Money has three travel insurance policies to choose from and four different levels of cover to suit your trip. There is also the ability to enhance your cover with winter sports, cruise, travel disruption and business trip cover. Virgin Money's travel insurance policies also include cover for trips within the UK (excluding medical cover, hospital benefit and delayed or missed departure) as long as your staycation destination is at least 25 miles away from your home address.

We explain each of the policies in more detail below.

Virgin Money single trip travel insurance

Single trip travel insurance insures you for one trip and can be taken out by an individual, couple or a family. With Virgin Money's single trip travel insurance, travellers up to the age of 65 can be covered for a period of up to 365 days as long as the trip starts and ends in your home area. If you are aged between 66 and 75 this reduces to a maximum single trip of 31 days and if you are aged over 76 this reduces to 17 days.

Virgin Money annual multi-trip travel insurance

Annual multi-trip cover insures an individual, family or couple for multiple trips in any 365 day period but there are some limits on the individual trip lengths. If you are aged up to 65 each trip cannot last longer than 31 days with Virgin Money Red travel insurance, 45 days with Virgin Money Silver travel insurance and 90 days for the Gold and Black cover option. These limits reduce to 31-day single trip limits if you are aged between 66 and 75 and a 17-day single trip limit applies to travellers aged 76 and above. Each member insured on an annual multi-trip policy is also covered to travel independently but travellers under the age of 18 must be dropped off and collected by a responsible adult aged over 18. Winter Sports cover is included as standard on all Virgin Money annual multi-trip travel insurance policies.

A Virgin Money Annual policy will automatically renew when it runs out so you will need to cancel the policy if you do not want it to auto-renew (you will be notified 21 days prior to renewal)

Virgin Money backpacker travel insurance

A Virgin Money backpacker travel insurance policy insures travellers up to the age of 39 for a single trip between 31 days and 18 months, as long as it begins and ends in your home area.

Virgin Money travel insurance optional extras

Virgin Money allows you to cater your travel insurance policy to suit your trip and there is a variety of add ons for your policy which we summarise in more detail below.

Winter Sports cover

Winter sports cover is included as standard with Virgin Money Annual multi-trip policies but can be added as an additional feature to single trip and backpacker policies. Winter sports cover includes cover for winter sports activities such as skiing and snowboarding, as well as cover for ski equipment should it get lost or stolen. You may also be able to get cover for piste closure and travel and accommodation costs due to an avalanche.

Cruise cover

You are covered for medical expenses and the cancellation of your cruise as standard within your travel insurance policy. Additional cruise cover means that you can get protection in the event of specific cruise-related claims such as cabin confinement, missed port departure and a change in your itinerary.

Business cover

Business cover allows you to get cover if any of your business equipment is lost, stolen or damaged. You may also be able to get cover if you have an accident during a business trip and Virgin Money will double the amount of its personal accident cover if you are travelling on a trip that is paid for by you or your employer.

Travel disruption cover

Get additional cover if your trip away is disrupted. Travel disruption cover can pay out if your trip departure is delayed due to a natural disaster or civil unrest. You can also get cover for trip abandonment due to alternatives plans not being suitable and for phone calls, meals and refreshments if your transport is delayed for more than 12 hours.

Gadgets and valuables cover

There is gadgets and valuables cover as standard on Virgin Money travel insurance policies but it does not cover all valuables including mobile phones. If you want to cover your mobile and other gadgets such as laptops, drones and games consoles you may wish to consider the additional gadgets and valuables cover.

What does Virgin Money travel insurance cover?

Below, we share the levels of cover you can expect to get when you purchase a Virgin Money travel insurance policy as well as the optional add ons.

Virgin Money travel insurance policy comparison

In the below comparison table we highlight how much cover you can expect with a Virgin Money travel insurance policy.

Red Silver Gold Black
Excess £100 £60 £50 £0
Medical Expenses  £10million £12.5million £15million Unlimited
Trip cancellation  £2,000 £3,000 £5,000 £7,500
Trip cut short  £2,000 £3,000 £5,000 £7,500
Lost or stolen baggage  £1,250 £1,500 £2,000 £2,500
Delayed baggage  £75 £100 £200 £300
Delayed departure  £200 £300 £400 £500
Missed departure  £500 £500 £1,000 £1,500
Personal money £350 £500 £500 £750
Lost or stolen passport  £100 £100 £200 £250

Virgin Money travel insurance optional cover

In the below comparison tables we highlight the optional add-ons that can be added to a Virgin Money travel insurance policy, as well as the level of cover you can expect.

Virgin Money Winter Sports Cover

In the below comparison table we show how much cover you can expect with the Winter Sports add on. The amount of cover varies depending on the policy type you choose with Red being the least comprehensive and Black being the most comprehensive policy.

Red Silver Gold Black 
Winter sports*  tick tick tick tick
Winter sports equipment £200 £500 £1,000 £1,500
Equipment hire  £100 (max £10 per day) £200 (max £20 per day) £500 (max £50 per day) £750 max (£75 per day)
Ski pack £200 (max £50 per day) £300 (max £75 per day) £450 (max £75 per day) £510 (max £85 per day)
Piste closure  £100 (max £10 per day) £200 (max £20 per day) £400 (max £40 per day) £500 (max £50 per day)
Avalanche cover  £150 £250 £500 £750

*The exact winter sports covered under this policy can be found in your policy documents

Virgin Money Cruise Cover

Cruise cover benefit  Cover 
Cabin confinement £1,000 (max £100 per day)
Missed port departure £1,000
Cruise interruption £1,000
Itinerary change £500 (£100 per port)
Unused excursion £500

Virgin Money Business Cover

Business cover benefit Cover
Business equipment £1,000
Business equipment hire £500 (max £50 per day)
Business money £1,000 (£500 cash limit)
Extra baggage delay (cover for purchases made related to your business after a baggage delay) 0 - 12hrs - £100

Over 24hrs - £500

Extra personal accident Double standard benefit

Virgin Money Travel Disruption Cover

Travel disruption cover  Cover 
Additional departure delay cover £1,000
Additional missed departure cover £500
Additional accommodation cover £1,000

Virgin Money Gadgets and Valuables Cover

Gadget and valuable cover Cover
Extended cover 1000 £1,000
Extended cover 2000 £2,000

Does Virgin Money travel insurance cover covid-19?

If you take out a new Virgin Money travel insurance policy you will be covered for coronavirus related claims for the following:

  • Medical expenses if you require treatment whilst abroad for covid-19
  • Up to £2,000 of additional accommodation costs if treatment for covid-19 results in you needing to extend your trip
  • Cancelling or cutting your trip short (curtailment) due to you or a member of your family or travelling party testing positive for covid-19 and subsequently being unable to travel due to self-isolation instructions

If you have an existing Virgin Money travel insurance policy that does not include the coronavirus general exclusion 36, then you are covered for coronavirus under the terms highlighted in your individual policy documents. However, you will not be covered if at the time of booking your holiday, there were restrictions in place at your destination or that the FCDO advised against travelling. If your existing travel insurance policy does include the coronavirus general exclusion, your cover has been upgraded to cover medical expense and cancellation and curtailment claims as detailed above for new policies.

To confirm, you will not be covered for any coronavirus related claims if you have travelled to a country against FCDO advice. For more information on travelling abroad and coronavirus, read our articles:

Does Virgin Money travel insurance cover pre-existing medical conditions?

Virgin Money says it tries to insure most pre-existing medical conditions and these must be declared at the time of taking out a policy. If Virgin Money is unable to cover your pre-existing medical condition it will exclude it from your policy which means that you will not be covered for any claim for or related to the condition but the rest of your insurance will not be affected. In this instance, you may wish to look at travel insurance with a specialist provider to cover your existing condition. More information on these providers can be found on the Money Advice Service website.

Virgin Money travel insurance policy exclusions

Below, we highlight some of the key exclusions on a Virgin Money travel insurance policy. This list is not exhaustive so you would need to check your policy documents carefully so you know exactly what is and isn't covered.

A Virgin Money travel insurance policy will not insure you for the following:

  • The policy excess
  • Any treatment or surgery that can wait until you are home
  • Any treatment received in relation to a medical condition you knew about and did not declare
  • Lost or stolen items that were not reported to the police
  • Claims related to natural disasters such as earthquakes or civil unrest (travel disruption cover can be purchased as an additional extra)
  • Missed connection flights
  • Travel against FCDO advice
  • Claims related to excessive alcohol consumption

Virgin Money also has some conditions that it applies to its travel insurance policies which you should read carefully to know what you are covered for. An example of some of the conditions are listed below:

  • You must wear a helmet when riding a motorbike or moped (under 125cc)
  • You must wear a seatbelt when travelling in a car
  • When travelling to a European country you should receive treatment in a public hospital
  • You should show a GHIC when receiving treatment in a public hospital in a European country

The Global Health Insurance Card (GHIC) was introduced to replace the existing European Health Insurance Card (EHIC) and can be obtained here. (If you have an existing EHIC it is valid until expiry)

How much does Virgin Money travel insurance cost?

In this section of the review, we compare the cost of Virgin Money travel insurance policies. How much you will pay will vary on your age, the policy type, your holiday destination and if you have any pre-existing medical conditions. For the purpose of this review, we are comparing the cost of an individual traveller aged 20, 30, 40, 50, 60, 70 and 80. There are no underlying health conditions and the quotes are based on travelling to Europe for 1 week.

Virgin Money single trip policy cost comparison

The following comparison table compares the cost of Virgin Money's single trip travel insurance policies. The costs are based on an individual with no underlying health conditions travelling to Europe on a Saturday and returning the following Saturday. You can take out a Red Virgin Money single travel insurance policy up until and including the age of 65, over this you can only choose a more comprehensive policy.

Red Silver Gold  Black 
Policy excess £100 £60 £50 £0
Medical expenses £10million £12.5million £15million Unlimited
Cancellation cover  £2,000 £3,000 £5,000 £7,500
Baggage cover  £1,250 £1,500 £2,000 £2,500
Single trip policy cost - Europe (20-year-old)  £13.28 £17.02 £21.52 £32.95
Single trip policy cost - Europe (30-year-old)  £13.28 £17.02 £21.52 £32.95
Single trip policy cost - Europe (40-year-old)  £13.28 £17.02 £21.52 £32.95
Single trip policy cost - Europe (50-year-old)  £14.88 £19.06 £24.10 £36.91
Single trip policy cost - Europe (60-year-old)  £17.27 £22.12 £27.98 £42.84
Single trip policy cost - Europe (70-year-old)  N/A £60.06 £75.97 £116.32
Single trip policy cost - Europe (80-year-old)  N/A £70.78 £89.53 £137.08

Virgin Money annual multi-trip policy cost comparison

In the below comparison table we compare the cost of Virgin Money's annual multi-trip policies. The costs are based on an individual with no underlying health conditions travelling to Europe multiple times in a 12 month period. There is an upper age limit on a Virgin Money Red policy and it can only be purchased by individuals up to and including the age of 65.

Red Silver Gold  Black 
Policy excess £100 £60 £50 £0
Medical expenses £10million £12.5million £15million Unlimited
Cancellation cover  £2,000 £3,000 £5,000 £7,500
Baggage cover  £1,250 £1,500 £2,000 £2,500
Annual multi-trip policy cost - Europe (20-year-old)  £41.13 £48.93 £62.78 £83.30
Annual multi-trip policy cost - Europe (30-year-old)  £41.13 £48.93 £62.78 £83.30
Annual multi-trip policy cost - Europe (40-year-old)  £41.13 £48.93 £62.78 £83.30
Annual multi-trip policy cost - Europe (50-year-old)  £46.07 £54.80 £70.31 £93.30
Annual multi-trip policy cost - Europe (60-year-old)  £55.53 £66.05 £84.75 £112.46
Annual multi-trip policy cost - Europe (70-year-old)  N/A £181.03 £232.27 £308.23
Annual multi-trip policy cost - Europe (80-year-old)  N/A £203.54 £261.15 £346.55

Virgin Money backpacker policy cost comparison

Below we compare the cost of Virgin Money backpacker travel insurance policies. There is an age limit of 39 on these policies so we have only compared the cost for a 20 and 30-year-old with no underlying health conditions and travelling around Europe for a year.

Silver Gold  Black 
Policy excess £60 £50 £0
Medical expenses £12.5million £15million Unlimited
Cancellation cover  £3,000 £5,000 £7,500
Baggage cover  £1,500 £2,000 £2,500
Backpacker policy cost - Europe (20-year-old)*  £242.96 £300.84 £402.62
Backpacker policy cost - Europe (30-year-old)*  £242.96 £300.84 £402.62

*Backpacker insurance policy quote is based on travel for 1 year abroad in Europe

Virgin Money travel insurance policy excess

The excess is the amount you will have to pay if you need to make a claim on your policy. How much you have to pay varies depending on the policy you choose and what you are claiming for. Below we share the policy excesses for each of the Virgin Money policies. When purchasing a policy you can choose to increase your excess amount by doubling the compulsory excess and therefore reducing your premium cost. Alternatively, you can choose to not pay any excess at all but in turn, this will increase your premium.

Virgin Money Red policy Virgin Money Silver policy Virgin Money Gold policy Virgin Money Black policy 
Standard Policy excess £100 £60 £50 £0

How to claim on Virgin Money travel insurance

If you need to submit a claim on your Virgin Money travel insurance policy, you can do so by downloading the online claims form. The claims form differs depending on what you are claiming for and each form can be completed online so you don't need a printer in order to fill out the form. When making a claim you will need to attach all necessary documentation including receipts for your claim so that it can be reviewed. Your claims form can then be emailed to [email protected].

Virgin Money does state that you will need to contact your airline or travel provider for a refund if your trip has been cancelled by them. This is because travel insurance will only pay out cancellation claims (where your trip has been cancelled by a travel company) if you are unable to get a refund. If you paid for your trip on a credit card and it was subsequently cancelled then you will need to contact the credit card provider in the first instance. If you are unsuccessful, then you should contact Virgin Money travel insurance for further assistance. Virgin Money says that if you have been unable to get a refund from the company that cancelled your trip it will require proof of contact when you submit your claim.

If your trip is cancelled due to an illness you will need to provide evidence that confirms that you were unable to travel.

Virgin Money travel insurance customer reviews

Virgin Money has a rating of 'Bad' on independent customer review site Trustpilot. It currently has a score of 1.3 out of 5 stars from over 2,500 reviews. Only 6% of customers have rated it as 'Excellent' with 86% of customers rating it as 'Bad'. It is however worth noting that the majority of these reviews do not relate specifically to Virgin Money travel insurance policies, a large proportion of the reviews are related to customer service experiences and problems with its banking services such as its credit card and mobile banking app.

Virgin Money travel insurance is also reviewed on reviewcentre.com where it also has a low rating of 1.6 out of 5 stars. Some users on this site comment on problems with the travel insurance claim process but it is worth considering that the most recent review was written on 03/11/2020.

Virgin Money travel insurance pros and cons

Virgin Money travel insurance pros

  • 4 levels of cover to suit each budget
  • Unlimited cover for medical expenses with the most comprehensive cover
  • Winter sports cover included as standard on annual policies
  • 24/7 emergency medical helpline
  • Virgin Group discounts

Virgin Money travel insurance cons

  • Annual policy automatically renews unless you cancel
  • Not all pre-existing conditions can be covered
  • Backpacker cover is only available for those aged up to and including 39
  • Mobile phone cover (lost and stolen) is not included as standard

Alternatives to Virgin Money travel insurance

In this section of the review, we compare Virgin Money's single trip travel insurance to other travel insurers.

Virgin Money travel insurance Vs Post Office travel insurance

In the below comparison table we compare the cost of the most comprehensive Virgin Money travel insurance policy to the most comprehensive Post Office policy. The quotes are based on a 30-year-old individual with no underlying health conditions travelling to Europe.

Virgin Money  Post Office 
Excess £0 £50
Medical cover  Unlimited £10million
Cancellation cover  £7,500 £5,000
Baggage  £2,500 £2,000
Single trip policy cost - Europe (30-year-old)  £32.95 £39.92

Virgin Money travel insurance Vs Staysure

In the below comparison table we compare the most comprehensive Virgin Money single trip policy to Staysure's most comprehensive single trip policy. The quotes are based on a single trip policy to Europe for a 30-year-old individual that has no underlying health conditions.

Virgin Money  Staysure
Excess £0 £65
Medical cover  Unlimited Unlimited
Cancellation cover  £7,500 £5,000
Baggage  £2,500 £2,500
Single trip policy cost - Europe (30-year-old)  £32.95 £12.99

Summary

Overall, Virgin Money travel insurance offers a great range of emergency medical cover when going abroad, especially its most comprehensive policy where there is no claim limit. This may be a good option if you are travelling somewhere with expensive medical care as it will reduce the worry of how much cover you have should you need to make a claim. However, it is worth shopping around when looking for travel insurance as you may be able to get similar cover at a better price.