It can’t be repeated often enough that travel insurance is an absolute necessity. While saying this might cast me in the role of nagging parent, you absolutely should not travel abroad unless you have travel insurance.
Fortunately, most of the time, we don’t need to claim from our travel insurance and tourists enjoy their holiday to its fullest; but when you consider that in some countries a trip to the GP can be over £100 (with prices rising massively the more treatment that is required), it’s crazy to think that some people would travel without it.
Of course, travel insurance can seem like just one more cost on top of an already expensive holiday so you need to look at a way to cut costs and find the best travel insurance for you at the right price. To find the best value travel insurance, you need to know a little bit about different types of cover.
Annual cover or single-trip?
Firstly, you need to consider whether you should take annual cover or single-trip cover. As the names suggest, annual cover will insure you for as many trips as you take in a twelve month period whereas single-trip is for just one holiday. If you are likely to travel more than once then annual cover will be the best value but as a one off, just take single-trip.
Europe or worldwide?
Then there is also the scope of the cover. Some policies will simply cover Europe while others cover the rest of the world excluding America and then others cover the whole world including America. Don’t over-insure yourself; if you’re taking a trip to Spain, don’t take Annual Worldwide cover as you will pay far more than you need to.
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Shopping online for travel insurance can often bring generous rewards as some insurers offer online only discounts. At the moment, Asda Money will take 20% off your premium if you buy online and LV=, Barclays and John Lewis will all reduce your costs by 15%.
You can also slash your premium by choosing a cover with smaller medical allowance. Some will cover you for up to £10m of medical expenses while others say there is no limit. But if you want cheap, simple cover with a limit to expenses of between £2m and £5m, contact EHIC Plus, Go or Insure for Travel for their best deals.