Low cost travel insurance

To relax properly on holiday it’s good to know you are properly covered with your travel insurance. It’s even better when you’ve managed to find a low cost travel insurance policy and you can have some extra days out with the money you’ve saved.

There are now hundreds of travel insurance products on the market and premiums vary enormously. In addition, the level of cover you get varies considerably between policies. However there are a number of ways that you can obtain low cost travel insurance and still be properly covered.

Many travel agents will quote the price for your holiday including insurance. Make sure you find out how much this insurance actually costs as you will quite likely be able to find an equivalent but lower cost travel insurance policy. Remember that you are not obliged to buy the travel agent’s policy even if you book your holiday with them. With so many price comparison sites available you can compare low cost travel insurance policies from many providers with just a few clicks. E.G. Moneysupermarket enables you to compare prices and cover online.

While medical expenses can be very high when abroad, it is extremely rare for a claim to reach anywhere near the £10m offered by some policies. But you don’t want to be under-covered. If you are off on a holiday or trip of a lifetime, check that the level of cancellation cover is sufficient for your trip. Check with your insurer if you are covered for pre-existing medical conditions or any sporting activities you might be undertaking. Also check your home contents insurance as your personal belongings and valuables may already be covered for your holiday, meaning you might not have to pay for baggage cover – some companies offer a discount for deleting baggage cover.

Joint policies are likely to be cheaper for couples, and kids are sometimes covered at no extra cost. Many low cost travel insurance policies can now be purchased online with many providers offering a discount for this, making a further saving.

Finally, for low cost travel insurance, if you travel abroad more than once a year, consider buying an annual multi-trip insurance policy – they often work out cheaper.

24/7 Travel Insurance sells single trip low cost travel insurance starting from under £5* and annual multi-trip low cost travel insurance starting from only £35.25**. Their How We Compare page also shows the significant differences in premiums between well-known providers.

In short – don’t scrimp on low cost travel insurance, but don’t pay over the odds either!

*Premium £4.76 includes Insurance Premium Tax; based on an individual traveller aged under 55 taking out a Standard single-trip policy for 3 days in Europe and purchased within 14 days of departure date.
**Includes Insurance Premium Tax; based on an individual traveller aged under 55 taking out a Standard policy for travel in Europe.