Where can I get discount travel insurance?

First of all, don't mix up holiday discounts that force you to buy discount travel insurance from the company offering you the holiday discount with an actual offer of discount travel insurance. Back in November 1998, the Monopolies and Merger Commission (MMC) clarified this area by making it illegal for a travel agent to make a holiday more expensive just because a customer doesn't take their travel insurance. This was because they found that customers found the practice misleading and were not shopping around and even ending up paying more in total when the cost of the discount holiday and the travel insurance were added up.

What we are talking about here is simply discount travel insurance, which is travel insurance of a decent quality that can be found for a smaller price than normal.

Sometimes, discounts are offered to particular people, or in particular markets. An example would be the travel insurance company who at the end of 2002 decided to offer discounts on travel insurance to those people in particularly stressful jobs, such as IT consultants, policemen and air traffic controllers.

Another discount would be for groups. Some groups, such as sports clubs, families, school trips and groups of friends going on stag and hen nights want to be able to get discounts for buying travel insurance in bulk. Some insurance companies specialise in group insurance policies and offer discounts should a certain amount of people be in the group.

Ultimately though, the real way to get discounts on travel insurance is to shop around as much as possible, ideally using a travel insurance broker, rather than a direct insurer. The reason for this is that travel insurance brokers either buy travel insurance policies in bulk or make arrangements with travel insurance providers to get a cheaper price if they can introduce a certain amount of customers to them. Either way, its more likely you'll get discount travel insurance off a travel insurance broker.

Whereas travel insurance brokers used to sell face-to-face, you can now talk to them on the phone, or even better, use their website. If you deal with them only on their website then you are likely to get even more of a discount, as you cut down on administrative overheads, which can lead to cuts in premiums.

Another way to get discounts on travel insurance could be to get an annual travel insurance policy, should you be travelling more than once a year. Essentially, you are buying travel insurance in bulk, with commensurate discounts. You can buy one policy, costing slightly less normally than two single trip insurance policies, and this will cover you for as many trips you want to make.

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

Copyright

Where can I get discount travel insurance?

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

Copyright