How do I get cheap holiday insurance?

To get cheap holiday insurance, you need to do the following things: Firstly and most importantly, shop around and compare quotes. Then you should not plunge straight in for the quote that is the cheapest before you have fully assessed the benefits of each policy. You should also find out what is your excess applying to each quote that you get. Then you must ensure that the policy you are getting will cover what you want it to and meet your requirements fully. Finally, you must make sure that if you are going on an activity or specialist holiday such as maybe paragliding or skiing that your policy covers you properly.

Shopping around is very important. When you buy your holiday, the travel agency may often tell you that you should buy their holiday insurance policy. The problem is that they are not specialists and in order to mitigate their risks and take advantage as the perceived convenience advantage that you get for buying from them, they will charge a much higher price for the cover you get. You cannot be forced to buy holiday insurance at your travel agents, so take the time to call companies in the yellow pages, or better still go on the internet and search for the best quote.

The "best quote", however, is not necessarily the cheapest quote. The cheapest quote may not cover you sufficiently. They can reduce premiums by cutting the medical cover, or by reducing legal cover, or by reducing the amount you are covered for your possessions. If you are not covered properly then you have not got the cheapest holiday insurance. The cheapest quote is the policy which covers you most adequately at the best cost.

Another way in which holiday insurance can seem cheaper is if the holiday insurance company raises the excess that you pay should you claim. Again, this is not the cheapest policy, as if your premiums are low but you cannot claim without paying the first, say, £500 of the claim, then that is not cheap.

Then there is the cover you get. The reason why holiday insurance companies want to know where you are going when you travel is that there are different costs in different countries. Europe is much cheaper than the USA for instance due to the medical costs involved. Check you have sufficient legal cover as well and your personal possessions are fully covered.

Included in this is making sure your holiday insurance covers you should you be going on specialist or activity holidays such as skiing. These offer larger risks of injury and some holiday insurance companies may have different opinions about what constitutes a dangerous activity.

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

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How do I get cheap holiday insurance?

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

Copyright