Find the best travel insurance
This article discusses the quickest way to find the best travel insurance. If you holiday abroad, or take romantic weekend breaks, then travel insurance is a must buy. There are so many insurance policies available to buy online, how do you sort through them all and find the best one for you?
Decide what type of policy
First you need to decide what type of policy you need. Do you have only one holiday a year with your family, or are you a carefree couple who have holidays and take last minute weekend breaks abroad? Perhaps you have decided to spend a gap year travelling or do you own a villa and spend several months at a time in warmer climates?
The general rule of thumb is that if you only have one holiday per year, then a single trip travel policy should be the most suitable.
If you plan having more than one trip per year, then look at an annual travel policy.
Some single trip policies can be insured for up to 365 days, alternatively there are specialist long stay policies, so if you plan to spend several months abroad, then its worth checking out both (single trips have better levels of cover, but specialist long stay policies tend to be cheaper)
What cover do you require?
Once you have decided which type of policy you need, the next thing is to think about the cover you need.
The most important section of a travel policy is the medical expenses section. If you have an injury or fall ill whilst abroad, unlike the NHS, which is free, you will have to pay for any treatment. Whilst a small cut might cost only a few hundred pounds, a serious injury or illness, can run into hundreds of thousands if not millions.
Its easy to say it will never happen to me, but I bet Michael Schumacher thought the same and his medical bill will be millions.
If you only plan travel to Europe then you will be able to take advantage of the reciprocal health agreement, provided you take out an EHIC card (European Health Insurance Card). However whilst this is a no brainer, you will still have to pay some costs and there are certain areas which are not covered by the agreement and will still need to be met by you or your Insurance Policy.
Cancellation and Curtailment is another important section of a travel policy. You have spent thousands of pounds on your yearly family holiday, if something unforseen happens and you have to cancel, you do not want to lose the money you have paid out.
Calculate the total cost of your holiday, including any pre paid trips and make sure the sum insured under your travel policy is at least this amount.
Baggage cover, insures loss or damage to anything that you take away with you on holiday. Clothes, Money, laptops, ipads, sunglasses etc. Unfortunately the levels of cover under this section are not high and any settlement takes into account wear and tear. You are also expected to jump through hoops to get a claim settled (for example, you will be expected to have proof of purchase of every item you need to claim for)
There is a happy answer and that is your home insurance. Most contents policies will allow you to cover personal possessions away from the home and this will include cover whilst abroad. The levels of cover are much higher and settlement is on a new for old basis. This is an important point to check. Some travel insurers will even give you a discount to exclude this section of the policy.
There are additional sections of cover like personal liability, legal expenses, scheduled airline failure, catastrophe cover and even additional cover for your pets kennel fees if you are delayed from returning home.
Once you have an idea of the levels of cover your require, you are all set to get quotes.
How do I find the best quote?
There are a number of ways you can do this
- Check out every website offering travel insurance and get a quote from each one, comparing them on a spreadsheet. This will take you a long time, so make sure you have a spare week before you travel!
- Use someone like Defaqto to choose the best policies. There are two problems with this, you have no idea what defaqto use to rate the policies and they do not take into account the cost of each policy. You would still have to get individual quotes. Which provides the same sort of information
- Use a comparison site. This makes the process a lot quicker, however you need to be aware that you are only comparing about a third of the market place and you could be missing out on a great deal.
- Use a site like thatsinsurance. This site has compared and reviewed every policy available. They take into account, price and cover. Find the top travel insurance deals at thatsinsurance. Once you have found the top few policies, you can go straight to that insurer and purchase or go back to the comparison site and purchase from there.
We hope that you have found this article informative, should you have any questions, please feel free to contact us.