While it may not be the most exciting part of planning for your next holiday, the right policy could protect you against all kinds of unforeseen events, including illness, injury or theft of belongings.
Know what to look out for when comparing cover and make sure you get the right travel insurance for the absolute best price for your whole family with these handy tips:
- Don’t delay getting your travel insurance sorted
If you book your holiday months in advance to get a great deal and enjoy the countdown to moment you take-off, don’t put off buying your travel insurance. Most policies will cover you in the event of cancellation or anything else that may prevent you from travelling. In 2017, 174,000 travellers made a claim due to cancellation.
2. Make sure you buy the right policy for your needs
Know what level of cover you want and need and resist being sold unnecessary upgraded cover. Many insurance providers will go to great lengths to scare customers into increasing their cover levels.
Travel insurance policies vary greatly on what is included or excluded. You can get insurance with protection for: medical cover, cancellation, baggage, and personal belongings, personal liability, delays and more. Make sure you check the terms of what is covered before you commit to buying a policy that doesn’t meet all of your needs.
3. Shop around
Don’t be tempted to take out travel insurance through your booking agent when arranging your holiday as you’re unlikely to get the best price and may not get the cover you need.
Shop around for the best price and check the small print to make sure you’re paying for the cover you need. Companies like Online Money Advisor can put you in touch with financial advisors who’ll happily find you the best deal for your travel insurance.
4. Watch out for the excess
Don’t be fooled by a crazy low premium price, some policies can be far cheaper due to an increased excess charge which could make a claim worthless. The excess will be deducted from any claims paid out and varies according to the policy, provider and even what you are claiming for. Some claims can have £0 excess but could get expensive if you make a claim for your possessions or missed departures.
5. Check out annual travel insurance, if you travel often
If you’re lucky enough to travel more than once a year, it may work out cheaper to buy an annual policy.
Most annual policies will insure you for an unlimited number of trips in any 12-month period, but check the terms since there may be a cap on the number of days you can be away. If you’re setting out on an extended backpacking trip or gap year where you’ll be travelling for many months, you may need a specialist policy.
6. Remember your free EHIC if you’re travelling within Europe
Carry a free European Health Insurance Card (EHIC) in addition to your travel insurance. This entitles you to treatment in state hospitals in EU countries, including Iceland, Norway, Switzerland and Liechtenstein
Brexit could impact the service provided. In the event that we leave the EU without a deal, there’s a possibility your card may not be valid after the day we leave. Otherwise your EHIC card should provide the same level of cover, until at least the end of 2020.
7.Check you don’t already have cover through your bank
If your bank account charges you a monthly fee, travel insurance may be one of the benefits you get automatically.
Don’t be confused by thinking the same is true if you’re travelling with your credit card. The benefit offered on most credit cards is travel accident insurance. This only covers you if there’s an accident on a train, plane or rental car which you paid for using the card.