Travel insurance can be very expensive depending on where you buy it from. In such a large market with so many insurance providers offering products that to the untrained eye all seem virtually identical, it can be very confusing deciding what and where to buy and how to get it at a reasonable price. So if budget travel insurance is what you are after, where do you look?
Where Not to Find Budget Travel Insurance!
Let’s start with where not to look! The classic example is the travel agent where you bought your holiday. It is so easy to tack the cost of the insurance onto the holiday. That way it might not seem so expensive, but when you look at it in the clear light of day you have probably spent far more than you have had to for the level of cover you have received. Travel agents are notorious for adding their own high commissions to insurance policies. It is far better to go direct because after all you are just adding another middleman to the chain.
Use a Broker
In searching for that budget travel insurance package remember that you should not compromise on coverage in return for a low price. By looking in the right places you can generally find coverage at very good prices. Using a broker or insurance agent has great advantages. An independent broker is best because he will have access to a wide range of different policies that he can tailor to your own requirements and he will probably be able to offer you a good price too.
Think About the Cover You Need
Think carefully about the types of coverage you will need. When you start your search, if you have a clear idea about what you want and don’t want it is easy to discard policies that include extra cover you will never need. For example if you are going on a beach holiday with the children you are hardly going to require winter or dangerous sports cover. Some policies include these as standard and it is these higher risk pursuits that really bump up the cost of the insurance.
Just make sure that the cover your budget travel insurance has is sufficient. For example, as standard you will get flight cancellation, flight delay, holiday curtailment or cancellation, loss/theft of baggage, personal effects and passports and medical cover and you will certainly need all of these in your policy. Where you can save money is on the limits applicable to each. For each policy most insurers have two or three options you can choose according to the limits of liability for each area of cover. The cheapest option will have the lowest limits but this should be sufficient for most eventualities, depending on what countries you are planning to visit, but remember the cheaper policies are likely to have a higher excess for each claim you make.
Buy in Advance, Then Relax
Of course, it is always worthwhile buying the best cover with the highest limits that you can afford but, if your pockets are not deep enough, at least with budget travel insurance you have covered yourself and your family against the major eventualities that might occur. Even if you do not make a claim, and you should be pleased that you did not have to upon your return from your vacation, the peace of mind and reassurance of having the insurance will have enabled you to fully enjoy your vacation.
