When jetting off on your summer holiday the last thing you may worry about is something going wrong. However, sadly for many people each year their dream holiday turns into a nightmare – maybe they fall ill and have to pay for their medical care out of their own pockets, or their luggage is lost or stolen.
And that is why travel insurance exists, to provide you with all round protection against the unexpected when you travel, whether for work or pleasure.
Insurance may save you a great deal of financial worry and it needn’t cost a fortune. There are many ways that you may be able to save money on cover and have peace of mind to fall back onto if the worst happens.
Save money but get adequate protection
While making savings on insurance may be one priority, just as important is ensuring that you have adequate protection when travelling. When choosing a policy you may wish to ensure that you go for a policy that covers just about every possibility. This may include anything from protection against a holiday that you have to cancel, to having to be repatriated back to the UK in the event of illness or accident. So how might you save money on your travel insurance?
- if you plan on taking more than one single trip in the same year you might want to consider taking out an annual insurance policy. An annual policy typically works out cheaper than taking out separate insurance policies each time you travel;
- don’t confuse the European Health Insurance Card with insurance. You can get a free card but it doesn’t replace insurance. The card allows you to pay the same costs as a local would in the country you are visiting and you can only use the card in the hospitals that have the scheme running. The good news is that if locals don’t pay for treatment, they you won’t have to either;
- if there is an elderly person in your group you might want to bear in mind that the group insurance is going to be based on the age of the eldest person. A group policy is also typically based on a person with a pre-existing medical condition. Therefore someone who has a pre-existing condition or who is older may wish to take out separate cover. This will stop everyone else having to pay over the odds to be included in the group policy;
- if you are going on holiday as a family or couple, you might want to check if a family insurance policy or couples policy is cheaper than taking out individual insurance policies. You do have to factor in the above point though as this may affect the policy and in this case separate policies may work out cheaper;
- bear in mind that not all insurance policies offer the same features and benefitsr. For instance you may take out a policy but the policy may not include activities and sports. In this case you may need winter sports protection or a specialist policy.
Travel insurance may vary greatly in both cover offered and premiums. Therefore you might want to ensure that you go to a specialist insurance provider for quotes. With a standalone insurance provider you may also get insurance that is more comprehensive.
Finally, while savings may be important, just as important is obtaining a policy that is adequate for your trip, so check all the small print before you buy your travel insurance to ensure you have the most appropriate cover for your needs.