How do I buy low cost holiday insurance?

Low cost holiday insurance is not as simple as finding the cover that makes you pay the least premiums. Premiums for travel insurance are likely to be in double figures for most single holiday insurance, which isn't that much in the greater scheme of things, but a difference of a few pounds could mean the difference between you being underinsured or over insured. That, to anyone who is offering their advice on travel insurance is what is important when you are looking for low cost travel insurance. The cost to you is not just a function of the premiums, but also the cover that you get for those premiums.

Thus, low cost holiday insurance needs to meet your needs exactly. You need to make sure that the insurance you get does not cover you for things that you don't need - which means that for instance you are not paying for skiing cover if you are just going to spend your time lazing on the beach. However, if you are going to combine lazing on the beach with doing some water-skiing, then you need to make sure you have cover for that. If you don't, and you go water-skiing, and you are injured, then it won't help that you paid very small premiums on your travel insurance as you'll have to pay your medical bills.

To get low cost travel insurance, you need to do quite a few things. Firstly, make a list of everything you want from holiday insurance, such as how many people you want to insure on the policy. This is important as you should be able to get cheaper joint holiday insurance for you and your spouse than two separate policies. Also, if you are going as a family or a group, then you should find that group travel insurance will be cheaper than a bunch of single policies.

Then there is the question of how many holidays you are going on. If you are going on four trips, then it doesn't matter how low cost the single trip holiday insurance policies you get are, they won't be better value than buying a multi-trip insurance policy, where you pay once and get unlimited travel for a year. Of course, even then, it gets slightly complicated, because you may be limited on the length of your trips. Should you be going on a trip that's over 90 days (although this could be as short as 30 days) then you need long stay or backpacker holiday insurance.

Ultimately, you should get as many quotes as possible, from the internet, both direct insurers and comparison services. Phone round insurers as well, and look at what banks and supermarkets offer.

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

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How do I buy low cost holiday insurance?

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

Copyright