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How to Find the Best Deals on UK Travel Insurance
Holiday makers should consider travel insurance as a must-have rather than an option. In case of an emergency, the UK Embassy in the state you are visiting will offer their help but you still need to pay for the services. So why not be covered from the beginning?
Once you decided to buy travel insurance, you also need to figure out how much you should really pay for it. As in the case of many services, there are many offers and rip-offs.
Avoiding the rip-offs
Travel agents
You just bought a plane ticket and booked your hotel via a travel agent. To your surprise (really?) the travel agent starts offering travel insurance, bundled with the package you just purchased. Avoid it at all costs. You might pay double if you choose this alternative. Why? Unlike stand-alone travel insurance, the bundled one is not subject to FSA regulation.
Non-specialist insurer
Have you noticed that the travel insurance sold in stores or at bank is more expensive than the one sold by specialist insurers? Of course there might be exceptions to the rule, but generally speaking you should try to stick to the specialist insurer. In many cases, the non-specialists have no idea what type of travel insurance you actually need.
Age discrimination
As soon as someone turns 65, the price for travel insurance doubles. Or, even worse, many companies won't even insure someone over 65. The only advice is to shop around. There has to be at least one company offering something to suit your needs. And you can also choose the specialized "over 65 insurance".
The fine print
Travel insurance, in general, is very cheap. But if you don't choose the proper one, you might end up paying a lot more in case of emergency. Going to the Caribbean for diving? Make sure your insurance covers that. Been robbed abroad? Make sure to file the report with the police in time so that you can make a successful claim.
Medical insurance for free
If you travel in Europe make sure to have your European Health Insurance Card (EHIC). This insures free medical assistance in case of accident or illness. You are only covered for state-based treatment and the quality of the service will vary.
What is the best deal?
Things you need to keep in mind
The best deal, in this case, means to be fully covered at the right price. For example, many travel insurance don't cover you if the airline goes bust. Surprised? Many travelers, especially independent ones, believe that if they have any travel insurance, they are full protected, which, unfortunately, is not the case. Read the fine print and make sure the policy includes insolvency protection which will offer at least some cover if the airline or hotel goes bust. You may also consider purchasing your insurance with your card. If a service is not provided you are entitled to get your money back (if you spent over £100 and up to £30,000).
Not to make it even more complicated, but this is what your travel insurance should cover: medical expenses, cancellation, baggage, cash and personal liability.
If you fly on a low-cost carrier, do you really need the cancellation cover? By the time you are done claiming your money, you'd probably get back about £10.
Annual multi-trip or single-trip?
If you travel rather often you will be able to save if you purchase annual multi-trip insurance. It's especially true if you travel to the USA. In many cases single-trip travel insurance costs more than an annual multi-trip one.
Shop around
Goes without saying that you don't need to purchase the insurance from the first company you ask about it. Compare what the insurance covers as well as the cost.
