Top Tips for Cutting the Cost of Travel Insurance.

Travel Insurance Explained. Top Tips for Cutting the Cost of Travel Insurance.


When planning a trip to a foreign country it's crucial to make sure you are adequately protected through a good Travel Insurance policy. However it can sometimes be hard to know where to start with so many different options on the market, this article aims to help you select the option to best suit your need and inform you of ten ways to bring down the cost of insurance for your holiday.

Travel Insurance although optional should be considered just as necessary as your passport when leaving the country. With the astronomical costs of holidays it can be tempting to reduce costs where ever possible, however Travel Insurance is the one thing you don't want to cut costs on. It is common to think “it will never happen to me” and on the most part it probably wont, but if a accident, illness or problem were to arise on your travels it can prove to be financially and emotionally damaging if you are not protected.

1. Shop around

In the past it was common practice to purchase your Travel Insurance directly from your travel agent, due to this the competition between providers were low, meaning the prices were high; causing some holidaymakers to view Travel Insurance as a costly and unnecessary add on; leaving thousands of people unprotected. However things have changed for the better, with the increased popularity of the internet there are now hundreds of online companies all willing to provide cheap Travel Insurance. Even better you can know use comparison websites to help you with you research to secure the bet deal.

2. Don't double-cover yourself

Thousands of people take out Travel Insurance every year without realizing they are already covered. Many people fail to realize that they are already protected through other insurance products they have taken out such as; home and contents insurance, make sure you check any existing insurance policies as there is no point paying for the same thing twice.

3. Where in the world are you going?

If your sure you will only be travelling abroad once in a twelve month period then single-trip insurance will be the most inexpensive option for you, however if you are contemplating multiple trips an annual insurance policy will most likely work out cheapest.

If you choose to take out annual Travel Insurance you will be given to choice to either take out Worldwide or European coverage, there is no wrong or right answer here, just consider where your planning to travel to. If you think all of your travels are likely to be in Europe then there is no need to take out Worldwide coverage as you would be paying for features that you will not end up needing, however if you think your travels are likely to extend further afield it's important to make sure you take out the recommended protection.

When taking out Travel Insurance you should also consider how long each trip you are planning to take is, as some travel insurance providers do enforce restrictions on the time spent abroad for any one trip. If you are planning to spend a considerable length of time abroad “backpacker” insurance may provide more cost effective and comprehensive protection. In addition the date you choose for your policy to start is also incredibly important, it can be tempting to have your policy start on the date of your departure, however it is actually best to have the policy commence the day your book your trip as this ensures you are fully protected against the possibility of cancellation.

4. Be honest with your insurer

Honesty is always the best policy with insurers as if they find out that you provided them with incorrect information they are perfectly within their rights to cancel your cover. So, while declaring a pre-existing condition may increase your policy premium slightly, should you need to make a claim it will be worthwhile.

This also applies when informing your insurance provider what you plan to do on your holiday, statistically you are far most likely to make a medical or luggage claim on a winter sports and adventure holiday so it's even more crucial to make sure you are protected. Most Travel Insurance providers offer specifically designed packages for these types of trips; if you are planning this sort of trip it may prove more cost effective to take out a more specialized policy that can provide you with greater peace of mind.

5. Look out for discounts

If you are planning to travel as part of a group or with a large family it will generally work out cheaper if you purchase one insurance policy that covers all of you. Another advantage of doing this is that this will mean the level of protection and same policy conditions will apply to all of you, making the claims process much simpler.

6. Take your EHIC with you

If you're planning on travelling to Europe, it's important to take your EHIC (European Health Insurance Card) with you. This will not only entitle you to state-provided medical treatment if you fall ill, it could also mean that your insurer will waive your excess. But always keep in mind your EHIC card is not a substitute for Travel Insurance!

7. Use card not cash...

If your insurance policy is going to cost more than £100, consider buying it on your credit card. Doing so means that if your insurer should go bust, you'll be covered by Section 75 of the Consumer Credit Act, meaning if the unexpected happens it wont be you that's out of pocket and your holiday will be able to continue as planned.

If you bear these top tips in mind and use the services of comparison site there is no reason you will not be able to secure cheap, easy Travel Insuranceto protect you and your family if the worst should happen whilst you are abroad. Bon voyage!


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