Travel Insurance

Factors that affect the type of travel insurance you’ll get

Are you thinking about purchasing corporate travel insurance? If so, it’s wise to choose a policy that best covers your particular circumstances to ensure you’re adequately protected. Failure to do so can result in you paying for expenses out of pocket. To help you get the right cover, here are four factors that affect the type of travel insurance you’ll get.

1. Who are you travelling with?

There are travel insurance policies for individuals, family, friends and groups. For instance, if you’re travelling alone, consider taking solo travel insurance. Alternatively, if you’re travelling with children, you’re better off buying a family policy.

Therefore, think about who you’re travelling with and buy the cover that protects both you and your travelling buddies.

2. How often do you go away?

When speaking to your potential insurer, they’ll ask you whether you’d like to purchase a single-trip or annual policy. The former covers you for one trip every year (365) days, while the latter covers multiple trips in a year.

If you only go on vacation once a year, it’s cheaper to buy a single-trip cover, but if you travel numerous times in a year, consider annual cover.

3. Where are you travelling to?

Generally, you’ll be able to choose between:

• Worldwide travel insurance – some worldwide policies exclude the USA, Canada and the Caribbean because of the higher medical costs, so look out for that.
• European travel insurance

It’s vital to remember that if you travel to a destination against the advice of FCDO, your policy is likely to be void.

4. Why you’re travelling

The purpose of your travel significantly affects the type of insurance coverage you get. For example, if you’re travelling for business, you need business travel insurance, as a standard policy won’t cover certain circumstances unique to your trip. If you’re travelling for leisure, then a standard policy is sufficient enough to cover any emergencies.

Compare different types of travel insurance

You can use Compare Insurance to compare travel insurance from different providers, including policies, what’s covered and what’s not and the costs of each policy. We make comparisons easy by listing insurers side by side.

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