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Going on holiday? Don’t forget your travel insurance
There’s an insurance product for everything and when you go on holiday or an extended trip abroad, you can protect yourself by purchasing travel insurance for your trip. Although many see this as an additional expense which is likely to be a waste of money, it is an important cost to remember for many reasons.
Travel insurance is there to protect you against the unexpected as unpredictable events can happen at any time no matter how sensible and vigilant you are. Whether an accident, falling ill or a natural disaster, having a travel insurance policy for the duration of your trip will provide you with the peace of mind that you are covered should the worst happen.
What you need to know about travel insurance
Like all types of insurance, the policy you buy can be tailor-made to you and your circumstances. When it comes to travel insurance, there are a number of factors including your age, trip type, trip length, health conditions etc. that you can change to get the best quality cover for you at a price which is affordable to you.
For European trips, get an EHIC card, it’s free and it ensures that you will be treated at the same cost as a local if you need to go to a doctor or the hospital. However, EHIC cards are not a substitute for travel insurance and they do not cover as many things as insurance does. Repatriation and certain expensive treatments are unlikely to be covered, or the full cost covered, with just an EHIC card.
You don’t have to get travel insurance from your travel provider as it can be more expensive. It is worth shopping around before committing to a policy as many high quality policies can cost £20 or under for your trip. Take a look at banks, building societies, and insurers etc. to see what they can offer you for a decent price.
How can you get the best deal?
Getting the best deal on your travel insurance doesn’t just mean getting the cheapest price but also finding the policy which is the best fit for your needs. You can do that by:
- Buying a policy as soon as you can
The sooner you get a travel insurance policy the better as it will cover you for cancellation and pre-trip illness. Also, the earlier you buy, the longer you have to shop around and find the best insurance policy for you.
- Declare your medical conditions
Always declare health issues because if you claim for anything relating to your condition and you have not declared it, you are likely to be rejected. Also, make sure you inform the insurer if you are pregnant.
- Get the right policy
Going away more than twice this year? Consider annual travel insurance as it may cost you less overall. Couples or family policies are cheaper than individual policies if you’re travelling with your partner/family. As older travellers are considered a higher risk, get a separate policy that will effectively cover your needs.
- Certain holidays should have specific cover
Get winter sports cover for skiing holidays which although more expensive is designed to cover injuries related to the risks of the sport. Get an addon policy for cruises as they are not automatically covered, this will cover missed departures, medical treatment once on board and cruise itinerary changes. Also, if you are travelling for more than 60 consecutive days, you need backpacker insurance which can protect you for up to 18 months as standard.
- Shop around
As with everything like this, shopping around and using comparison websites will help you find the best deal, price wise and based on your needs. Always check out the company, if it is a name you are unfamiliar with, before purchasing your policy.
Why you should get it?
- Safety and peace of mind
- It’s cheaper than paying expensive medical bills
- Covers a range of issues from illness to cancelled trips
- Covers losses and thefts of documents, baggage and money
- Protection in a legal claim if you are personally liable for an accident to a person or property
- Added protection on top of your EHIC card for European holidays
You can find out more about travel insurance on Money Saving Expert.