If you’re soon to be travelling abroad then it’s not only advisable that you have travel insurance, but it is most likely an essential if you’re guaranteed to be allowed to fly out. In some instances you will be required to prove that you are covered before boarding.
Whilst this guide will help you to find the best travel insurance for your needs, it is not a guide to finding the cheapest. The definition between the two is an important one and most certainly within the insurance realm, cheaper does not always equate to better.
Using price comparison websites
As a first step to finding the most suitable annual insurance deal for your needs should be a visit to one of the many price comparison websites. Here you can narrow down the range of providers through choosing your destination, number of trips, time of travel and added extras (such as winter sports, cruise cover or business trip cover).
Key factors to look at when considering a policy
The following elements are key indicators of the coverage that an annual travel insurance policy provides:
- Medical expenses (a good policy will cover up to £2 million in medical expenses),
- Cancellation coverage (this covers the eventuality of your holiday having to be cancelled for any reason, usually up to the exact value of your holiday),
- Baggage coverage (a good policy will cover £750 of your baggage, so that if it is lost and not covered you have this pay-out to compensate for lost items; if you require a higher coverage level then you can request this from your provider, who will most likely quote a slightly higher premium).
Do you already have free cover?
You may actually already have annual travel insurance without even being aware of it. Generally speaking bank accounts for which you pay a monthly fee will have a certain amount of travel insurance coverage, so be sure to check with your bank if this sounds like it could apply to you. As with all policies however you need to read the small print.
Other tips for choosing annual travel insurance
How much should you expect to spend?
The cost of Annual travel insurance can and does vary greatly as according to the provider as well as the person who’s being insured. The most basic of insurance policies can range from just £13 per year, however what this covers is obviously seriously restricted when compared to the more expensive of policies. To this end you need to always ensure that you check the small print of any insurance policy; where one provider may have a ‘coverall’ approach another may cover only elements such as single trips, non-risky activities, undiagnosed illnesses and all manner of additional fine print conditions.
Never hide an illness
Although it may be tempting to hide a condition, even the smaller and less obvious, you simply shouldn’t. Doing so may invalidate your insurance when you need it most.