Travel insurance is something you may not want to skimp on. While the majority of people who go on holiday enjoy a trip that is trouble free, sadly others find that disaster strikes. Ending up in hospital when on holiday isn’t fun or cheap when abroad,but at least if you have insurance you have financial security. Finding the most suitable policy at a suitable price doesn’t have to be a nightmare if you follow our tips.
Choose the most suitable policy
Savings on travel insurance typically start by ensuring that you choose the most suitable policy for your needs. There are different policies for travelling and some of the most popular include:
- single trip insurance;
- annual insurance;
- over 65 insurance;
- cruise insurance;
- family insurance;
- backpacking insurance.
Choosing the most appropriate type of policy ensures that you have the most suitable cover for your specific holiday needs and it may help you to get competitive premiums. For instance if you travel more than once a year it may be more economical to get annual insurance rather than single policies each time you travel. If you are over the age of 65 it may pay to shop with a specialist provider for an over 65s insurance policy.
What do you plan on doing on holiday?
What you plan on doing on your holiday may have an effect on the insurance policy that you need. Certain activities and sports may require additional insurance, these may include;
- scuba diving;
- bungee jumping;
- horse riding.
Any of the above activities and sports may require you to take out specialist insurance to ensure you are protected against financial costs associated with accident or injury while partaking in them. Generally insurance is going to cost less if you are not taking part in any of the above activities. However, if you are it may not pay to skimp on the cost of insurance to include them.
Pre-existing medical conditions
Pre-existing medical conditions are something that insurance companies worry about so they affect how much you have to pay. For instance if you have asthma or high blood pressure you may be asked to pay more for insurance than someone who doesn’t have existing conditions.
Always check the small print of a policy as insurance providers may even factor in the health of relatives to avoid paying out if you have to abandon your holiday to come home to be with a relative.
What to look for in a policy
What to look for when choosing travel insurance is largely going to depend on your needs. However, there are some things that you might want to make sure are included in the insurance you take to cover eventualities. These may include:
- medical expenses of around £2 million;
- personal liability insurance around £1 million;
- cancellation of the holiday, typically around £3,000;
- loss of cash around £250;
- loss of baggage around £1,500.
As you can see there are many factors to take into account when looking for travel insurance. Using a standalone provider of travel insurance may typically help you to find a policy that provides suitable cover and at a competitive price.