Cyprus Holiday Money and Travel Insurance:  Holidaymakers are wondering whether it is wise to go to Cyprus during the banking crisis.  At the time of writing the Foreign Office (FCO) has not issued a general advisory against travel to Cyprus.  Also, unfortunately, ‘disinclination to travel’ is not a valid reason to cancel a holiday package to Cyprus.

North Cyprus still uses the Turkish lira and is not affected by the banking crisis.  The European Health Insurance Card (EHIC) is not valid in North Cyprus so it is extremely important to have comprehensive travel insurance.  At all times is it important to carry the EHIC when travelling within Europe, but the EHIC is not a substitute for travel insurance.  If you have booked a package holiday check with your operator, but it is unlikely that cancellation is possible without losing the deposit.

Until the situation returns to normal the FCO advises visitors to carry euros and to not rely solely on bank cards. If travelling independently check with your hotel or accommodation whether they will accept payment by bank card.  As always, you are unlikely to secure a good exchange rate if you leave it until the last-minute at the airport, so arrange your euros well before travel.

The FCO advises holidaymakers to take enough euros to last for their stay, but be very careful if carrying cash.  Make a note of the euro-wide ‘112’ emergency number, which applies to Cyprus.

Check the terms and conditions of your travel insurance for carrying large sums of cash. Our customers should check Section E, page 16 of their policy document (or access online via our website) as well as the Schedule of Cover (pages 8-11) depending on the policy type.

The upside is that if you fancy a trip to Cyprus for some needed sunshine this might be the ideal time to secure a really good deal!

Flickr cc Image:  Images_of_Money

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