Travel Insurance

How to save money on travel insurance

How can I save money when purchasing travel insurance? This is a commonly asked question among international travellers. Keep reading to learn how you can find an insurance plan that meets all your travel needs without taking more money out of your vacation fund than necessary.

1. Don’t insure refundable trip costs

When paying for your travel insurance policy, only cover the trip costs that are non-refundable and pre-paid. Refundable costs are not only unnecessary, but they also raise the price of your premium, making your policy more expensive.

For example, if your flight gets cancelled and the airline offers you a voucher for the cost of the flight, you can easily take it, eliminating the need for flight cancellation.

2. Avoid over-insuring emergency evacuations

Most insurers offer millions worth of coverage for medical evacuations, which is too much. On average, you’re more likely to spend no more than a couple of hundred thousand, and this is for extreme cases. So, don’t over-insure emergency evacuations, as it only raises your travel insurance costs.

However, don’t forgo it altogether either, as evacuations are too expensive to cover out-of-pocket.

3. Take an annual policy

If you travel multiple times in a year, consider purchasing an annual travel insurance policy, as it can save you a lot of money and time over covering individual trips with separate plans. Furthermore, annual policies are convenient, as you get one plan with the same coverage and assistance all year long.

4. Only buy add-ons when you really need them

Add-ons, such as Cancel for Any Reason, rental car coverage and pre-existing conditions, make your travel insurance more expensive than it should be. Therefore, you should carefully consider what add-ons you want to get and why before including them in your policy. For instance, if you’re sure you won’t rent a vehicle when travelling abroad, there’s no need to buy rental car coverage.

Try spending a little more time with your policy, reading the fine print, and understanding what’s covered or not. You can also compare policies from different providers to determine whether they cover what you need at no extra cost.

To aid the process, use our tools and resources at Compare Insurance to find your cheap schengen travel insurance plan.

Photo: Free image by Pixabay
Car Insurance

Three ways to get the best car insurance deals

Buying car insurance for new drivers can be daunting at times, as there is so much to take into consideration. But really, it’s all about understanding what you’re paying for. Whether you’re a new or experienced driver, here are three of the best ways to get the best car insurance deals:

1. Secure your car to secure your insurance price

One of the best ways to get the liability car insurance deals is to show the underwriters not just how safely you drive, but how safe and secure your car is. Make sure your car has a professionally fitted alarm and/or immobiliser and by parking in a safe spot, such as in a driveway or garage. Doing this will lower your risk, giving you much cheaper insurance.

2. Don’t pay more for add-ons

When buying car insurance, you’ll notice providers will try to sell you add-ons. However, sometimes the best insurance deals may require you to skip these add-ons because they’ll just add extra costs without any benefits. Think about if you need a courtesy car or legal cover. Breakdown cover can even be included on some bank accounts. You should also think about travel insurance which can cover excesses on rental cars while travelling.

No Claims Protection is actually a good add-on to have. It will keep your premiums low, even if there is an accident on the road, which is good in the long term.

3 Comprehensive over third-party

Many insurance providers have found that, statistically, those who take out third-party car insurance are more likely to make a claim. This means that they’ll drive up the price of third-party insurance even though it offers less cover than comprehensive. Those who choose comprehensive insurance are considered more responsible, and so the premiums can be much lower. This can be an excellent choice as you, your car and the third party will be covered, and you won’t be overpaying for the privilege.

Generally, you should compare providers to secure the best deal. Our dedicated team of specialists are here to help, so contact us today and we’ll help find you the best car insurance deal.

Photo: Free image by Pixabay