Travel Insurance: Finding the Right One for You at the Best Price
Dec 23, 2018
Many people skip travel insurance as a way of saving money. However, travel insurance can save you from having to fork out thousands (sometimes tens of thousands) of pounds on expensive medical bills or for replacing lost items. There are so many different policies out there and the one you choose will depend on what type of trip you are taking and who you are going with. Whatever the circumstances, there are several good-value policies out there that provide you with excellent coverage. Here’s a guide to finding the right travel insurance for you without breaking the bank.
How to Research and Find the Right Policy
Going to price comparison websites seems the most logical approach to finding the best-value travel insurance, yet it’s not as straightforward as it seems. There are so many travel insurance companies out there and competition is fierce, potentially leading to companies offering low premiums yet with incomplete coverage. To avoid being caught out, always check how much blanket cover the policy offers and how much the excess (what you need to pay in the event of a claim) is. Ideally, you want the highest blanket cover possible and the lowest excess.
Which leads to the question, how do you decide whether you have a sufficient level of cover? An excess between £0 and £75 is reasonable; any more can make claims become expensive. In terms of standard limits, look out for the following coverage:
- Cancellations (£2,500)
- Baggage (£1,500)
- Missed departure (£500)
- Personal liability (£2 million).
- Medical emergency (£100,000, however, most policies offer millions of pounds coverage).
Choosing the Right Insurance Plan
Whether or not your travel insurance plan is the right one for you will depend on how you travel. If you travel a lot every year, you can get a ‘multi-trip’ policy, such as the one with Medical Travel Insurance. These types of policies cover all your trips in a calendar year (with limits on the length per trip) to multiple destinations and will work out cheaper than getting a separate policy for each trip.
If you travel a couple of times a year for short durations, a single-trip policy should cover everything you need and will work out cheaper. Many companies offer single-trip policies with great promotions (such as these insurance providers here) that can make travel insurance much more affordable.
Travel Insurance for You and Your Family
Rather than getting a separate policy for each family member, it’s cheaper to cover everyone under one policy. There are several types to choose from, such as single-parent cover, couple travel insurance (if you live together at the same address) and family holiday insurance (covers two adults and up to four children under the age of 18 and living with you). Which policy you choose will depend on your circumstances. If you’re pregnant, you can also get pregnancy travel insurance, such as through Get Going travel insurance, that will cover you up to full-term for any complications involved with the pregnancy or giving birth.
Insurance for Sports on Holiday
If you plan to do specific sports on your holidays it’s worth taking out a policy that will cover you in the event of a sport-related accident, such as winter sports travel insurance. Check the small print for the policy terms on helmets, the type of equipment you use, where you ski (such as off-piste) and possible exclusions, such as jumps. If in doubt, call your provider and ask for specific details.
Getting Travel Insurance if You’re a Student
If you’re a student, try using comparison websites to search for policies that have comprehensive cover at low cost or check to see which insurance companies offer promotional discounts, such as the travel insurance offers at codes.co.uk. This could save you a lot of money while still giving you the cover you need. If you’re backpacking for several months across multiple destinations, look out for specific backpacking insurance that can also give you the flexibility you may need if you are booking flights and accommodation as you go.
Travel insurance for Pre-existing Medical Conditions and Senior Citizens
If you are over the age of 65 or have an existing medical condition, you may need extra travel cover to ensure you are fully covered. To ensure you’re covered, you need to know what the insurance policy defines as a ‘pre-existing medical condition’ and you will need to be totally transparent when giving the provider details of your condition. Also, check your policy to see if your insurance provider covers any medical equipment that you may use and will need to travel with.
Making a Claim
To avoid having any difficulties with your claim, make sure you read all the small print before taking out the policy to ensure you know exactly what you are and are not covered for. Also, be 100% truthful and accurate when providing your details to the provider to avoid having your claim rejected due to misinformation. An important tip is to take photos of your belongings before you travel and hold onto all receipts and paperwork to prove the value of your items should you need to claim.
Make Sure You’re Not Over-paying
Before taking out a policy, make sure it covers only what you need, such as medical emergencies and cancellations, and take out all the extras that you won’t need, such as winter sports cover if you’re planning a beach holiday. Check all the small print to ensure the policy is aligned with your situation - for example, you won’t need a multi-trip policy if you’re planning just one week in Spain.
Travel insurance is vital for any trip and getting out a comprehensive policy can save you a lot of money in the long run. Some premiums can be expensive, yet many providers aim to provide a complete insurance package at affordable prices, no matter what your budget.