How To Choose Travel Insurance

Many of us love to travel, and taking out a travel insurance policy beforehand can better secure the financial safety of doing so. However, taking out such a policy with the necessary care shouldn’t involve simply choosing the cheapest one that you see on a price-comparison website. There are various other factors to consider that will ensure you are not only getting the best price, but are choosing a travel insurance policy that's right for you.

Read our useful tips below to make sure you find the best travel insurance for your next big trip.


The peculiar effect of price-comparison websites

Price-comparison sites are, of course, meant to help us to find the best value insurance policies. However, “best value” is not synonymous with “cheap”. Because of how commonly these sites are used, insurance companies are under huge pressure to keep their prices low – to the extent that you could too easily take out an inexpensive policy only to realise that it doesn’t actually tick all of the vital boxes for your particular travel needs.


Should you choose one policy for multiple trips?

A multi-trip policy will cover all of your travelling within a calendar year, though it will stipulate limits on each trip’s length. These policies can be like bulk discounts in supermarkets, in the sense that whether you’d save with one will depend on your particular needs. As a general rule, anyone taking three or four trips in the year will usually save money with multi-trip insurance1. Taking out this cover in this instance can also save you time, as there’s no need to seek a new policy each time you prepare for travelling.


Travelling with company? Then opt for one policy for everyone

Will you be travelling with at least one other person – for example, as part of a couple, family or another group? In that case, you can save money by opting for a single policy that covers everyone on the trip2. It’s also possible to get multiple cover for a group the individuals of which wish to travel separately. Such cover is much harder to find than it used to be, however – so you might have to be prepared to dig deep.


Anticipating an active holiday? Then consider further insurance…

What physical activities do you expect to do during your holiday? Maybe you’ll be trekking up some mountains, swimming in the sea or an outdoor pool, or going snowboarding. Whatever the activities, you could find a travel insurance policy that covers all of them. Even physical pursuits that you might not consider particularly mainstream, like camel or elephant riding, can be catered for by some policies. Carefully take account of restrictions, however; some policies might require you to, for example, wear protective clothing, like a helmet, during certain pursuits.


Consider what extra cover you might need

Looking closely at a policy’s small print can pay dividends for covering various extra potential nuisances. By way of example, some travel insurance policies cover the financial failure of a travel company, and further losses resulting from this3. So, if you book a hotel, but fail to even reach it due to the airline going financially belly-up, you might be able to get back the cash you lost from the hotel booking.

1 A Guide To Annual Multi Trip Travel Insurance
2 15 Tips For Buying The Best Travel Insurance Policy
3 Does Travel Insurance Cover Bankrupt Airlines