Many people look for the easiest and cheapest option when it comes to travel insurance.
However, it’s important to research different policies and understand which is the best for your circumstances. We’ve compiled a list of tips below to help you on your way to getting the best deal on travel insurance.
Find the right policy for you
The cheapest policy does not necessarily mean the best when it comes to travel insurance.
You should choose a policy that covers what you need it to, regardless of the price. If not, you could find making a claim on your travel insurance is useless.
Things to consider when choosing the right policy include the amount of people travelling, your destination, how often you travel and the length of your trip, whether you need a specialist policy and which items or medical expenses you want to be covered for.
Remember to look at the different excess options as, although they can make your policy cheaper, they may not be worth it in the long run. You should also look into cancellation cover.
Compare different insurers
The first tip when it comes to choosing an insurer is to never buy from your travel agent, airline or tour operator.
Research shows that this will cost you much more. Comparison sites and best buy tables are an easy way to compare different policies and see what is included on each plan.
Check your current insurance policies
Home insurance policies can often include insurance for personal possessions if you are away from home so this can definitely save you money.
Some banks also offer free travel insurance as an incentive to open an account or to stay loyal to them. You will still need to check what is covered and whether the free policy is suitable for your needs.
Look out for limitations
Many of the cheaper policies will not insure people over the age of 65 or cover pre-existing conditions. Also, some exclude what are known as risky or hazardous activities.
If you are purposely seeking an insurance policy for a skiing holiday, ensure that it covers winter sports and any associated risks.
Travel insurance often comes under different areas, however, they may not be what they seem. Countries such as Egypt and Morocco can come under European policies so, if you are travelling to these countries, taking out a more expensive worldwide policy is unnecessary.
Be warned that the U.S.A and Canada are often excluded from these ‘worldwide’ policies.
Get a free EHIC card
A European Health Insurance Card can be one of the most cost-effective ways of lowering your travel insurance. The EHIC will provide you with state healthcare for free, or at a reduced cost, if you are visiting countries of the EU, Iceland, Liechtenstein, Norway or Switzerland.
Some travel insurance policies will forget about the excess for medical claims if you have used your EHIC for medical treatment.
Research is key when it comes to getting the best deal on travel insurance and, by comparing different companies and knowing your options, you can be completely protected for the best price available.