Any situation which leads to you or family members needing hospital treatment while away can add thousands to the price of a holiday, so not arranging Travel Insurance before you jet off really shouldn’t be an option.
Paying for an air ambulance to bring you back from the USA can cost upwards of £30,000, for example.
However, after scrimping and saving for the big summer getaway, the cost of insurance is another financial pain that many of us could do without. But with a little effort you can make worthwhile savings on the cost of travel cover, leaving you with extra cash to spend on those holiday luxuries. Here’s how:
Say ‘No thanks’ to your Travel Agent’s Insurance
It’s nearly always the case that insurance deals offered by a travel agency are going to be worse than you can get elsewhere. So don’t take the easy option; just say ‘No thanks’ when they offer you cover (and they nearly always will).
Search online and check with brokers
The golden rule when looking for a policy is to compare what deals are out there. Use an online search site or sometimes, better still, call an insurance broker. Insurance brokers can often access exclusive deals that you can’t find via online sites, and they’ll make sure you get the cover you need.
Are you already covered?
Don’t fall into the trap of paying for cover when you already have it. Some bank accounts and credit cards offer it as part of the product when you sign up (this is especially the case for those bank accounts where you pay a monthly fee). Make sure you check if the cover offered is comprehensive enough however, as sometimes only very basic cover is included.
Or it may be that you already have some cover via your home insurance as the better policies might include insurance for your possessions while you’re out of the country. If so, you won’t need baggage cover, which could reduce the cost.
It’s usually the more the merrier where premiums are concerned. For families and groups of 6 or more, discounts or deals are often available; children under 18 might cost you nothing, or you might get an extra 15% off for a group.
Choose a bigger excess
If you’re a sensible person who is extremely careful with their possessions, where you go and the things you get up to on holiday, you could choose to increase the standard level of ‘excess’ payable.
The excess is the first part of any claim that you have to pay before the insurer covers the rest (often between £50 and £100). Usually, the higher the excess you choose, the lower the premiums for the cover.
Buy annual cover
It might be tempting to just cover the two weeks you’re going away for as a cheap, short-term option. However, if you know there’s a good chance you’ll be going away again within 12 months, it might pay to get annual, multi-trip cover as it’ll can work out considerably cheaper in the long run.
Some countries are ‘in Europe’ for insurance purposes
Don’t pay for ‘worldwide’ cover if you don’t need to! Some countries which clearly aren’t geographically ‘in Europe’ are deemed to be so by insurers. This can include countries such as Israel, Egypt, Morocco and Turkey.
Worldwide cover is nearly always more expensive than a policy that just covers Europe.
Policy Expert is an online Insurance broker, dedicated to helping customers find the insurance policy that’s right for them. Our customers are at the heart of everything we do, so we have a team of experts with a real passion for making sure people get the cover that’s right for them. Policy Expert is driven by a desire to help you find not only the best value insurance, but the right insurance for your individual needs. For a quote speak to an expert today on 0330 0600 603