When making holiday plans you should consider the cost of travelling, hotels and tours and the likelihood of delays or having your belongings or important documents stolen or lost. Once this has all been taken into account it is easy to see why a good travel insurance policy should be considered as a simple way to minimise the disruption and distress caused by such events.
Travel insurance can cost very little, when compared to the increasing costs of medical treatment, although policies can vary depending on the provider. It is important to remember that insurance companies make their money from the people who don't claim.
Insurance is sold in policies, and most of them contain a standard level of contents, so if you need cover for events such as skiing and adventure sports, then you will probably need an upgraded version.
Annual - If you travel more than twice a year, it is probably cheaper and more convenient to take out an annual policy. The maximum length of a trip is generally 31 days, so make sure you are covered if you take a longer holiday.
These policies also generally cover winter sports for a duration, but may not include some sports such as scuba diving.
Single Trip - You can buy insurance per trip for a certain duration, although they don't generally cover winter sports, which in order to cover will mean forking out for a higher premium.
Backpacker - This policy is for students or anyone wanting to take an extra long break. It covers longer holidays and back-packing trips and will often include cover for working abroad, but remember to check the small print.
Winter sports - Not all policies cover winter sports, so usually you will have to purchase extra cover.
Is It Needed?
Most people are naïve when it comes to travel insurance, or insurance as a whole, as they think that insurance is only required to pay for things that get stolen or damaged, but the reality is much more serious than that.
Many people have been forced to fork out huge medical costs for injuries suffered while abroad, something which could have been avoided with travel insurance.
If you are only travelling within the UK, you won't really need travel insurance. But, it is an idea to get cancellation cover just in case something happens at the last minute.
There are many options when it comes to buying travel insurance, with many high street supermarkets now offering competitive prices, or alternatively you could shop around online.
Travel agents provide travel insurance and usually try to get you to purchase it along with your holiday, however, this is often much more expensive and doesn't always provide the cover that you need.
- Spend time shopping around to get the best quote.
- Search online.
- Don’t give false information to the insurance company in order to get a cheaper quote.