After spending your hard-earned wages on a lovely holiday, it is understandable that you want to get the best deal on the best travel insurance.
Just by making sure that you are insured for your trip may save you money. Unforeseen cancellations, costly medical bills and losing your luggage – each of these things could cost you dearly if you are uninsured.
Here are 5 other quick tips on saving money.
Compare the market
Don’t just go with the travel insurance offered by your chosen travel agent. Make sure that you have thoroughly researched the market for the best deal. The easiest way to do this is with an online insurance comparison site, such as Compare Insurance.
Only pay for what you need
Insurance policy documents are often lengthy and can be tricky to read. However, take the time to go through the document carefully and make sure that you are not paying for something that you don’t need. Removing extras like winter sports add-ons, for example, can help reduce your premium.
Increase the excess
This option has pros and cons. Paying an ‘excess’ refers to the amount of money you will have to pay towards any claim that you make on your travel insurance. The amount varies, and the more money that you are prepared to pay towards your claim, usually the lower your overall travel insurance premium.
Think carefully though before you go for this option. If you do need to claim on your travel insurance, have you got the money readily available?
Is this your only trip?
Although an annual travel insurance package works out more expensive than a single trip premium, it could work out cheaper if you are planning any other trips in the coming 12 months. Paying for several single cover travel insurance premiums will work out more expensive in the long run.
Avoid countries with expensive healthcare
The United States, Mexico, Canada and the Caribbean all have expensive healthcare. This will be reflected in the high cost of your premium. If you really want to keep the cost of your travel insurance low, avoid these destinations.