There’s no question that no one wants to pay more for travel insurance than they have to. However, there’s a big difference between paying for cheap travel insurance and insurance that’s the best value for your money. Below, we’ll look at why you should avoid cheap travel insurance and how to get affordable travel insurance instead.
Cheap travel insurance
Generally, cheap travel insurance is the minimum amount of cover you can get for travelling. This can include medical expenses if you get injured or ill abroad and personal injury cover for accidents. In other words, you under-insure yourself to save money by paying for the least amount of cover.
Unfortunately, this tactic forces you to pay for expenses out-of-pocket in case of an emergency, accident or unforeseen circumstance. For instance, if your partner suddenly falls ill before your trip and you have to stay behind to take care of them, a cheap insurance policy will most likely not cover trip cancellation or missed departure. So, you’ll spend more money buying new tickets and rebooking accommodation, resulting in losses.
Additionally, cheap travel insurance may not cover damage caused by you, e.g., causing injury or damaging property. However, with a comprehensive policy, you can purchase such cover at an additional cost, guaranteeing you’re protected.
All in all, with cheap travel insurance, you’ll end up spending more to cover your travel than you had saved when buying your policy.
Remember, accidents happen, and no matter how careful you are, you can’t avoid them. Your luggage can get stolen at the airport or hotel, or you can be robbed in a new country. In this case, you want a comprehensive policy that protects you from a wide range of unforeseen circumstances.
So, how do you get affordable travel insurance?
The best way to get value for your travel insurance policy is to compare policies from different providers. Be sure to ask each insurer for quotes and compare what’s covered or not. This way, you can determine what you need and only pay for that.
Use Compare Insurance tools and resources today to compare quotes and cheap family travel insurance from various providers.