Understanding the excess and knowing which type of cover you need are important when searching for a travel insurance deal and the best thing to do is focus on looking for a good value for money deal rather than just a cheap policy. It is vital to ensure that you only take out insurance with reputable providers, as the last thing you want is to get a great deal on a policy that you can’t claim on.
One of the most important things that you need to do when shopping around for a good deal on cheap travel insurance is read the terms and conditions of the policy. These vary with every deal and it is vital to understand what the terms are in order to find the best policy for you and as everyone’s needs are slightly different, you will need to make sure that the deal specifically suits you.
Consider the Excess
The excess is the amount that you have to pay towards any claim, so this is something that you always have to look into and don’t over or under estimate what you can afford, as being sensible about your excess amount can make a huge difference to your policy.
For Example: If you claim for £1000 and you choose a policy with an excess of £200, then the insurer will pay out £800.
While a high excess will give you a cheaper deal, it may not be worth getting as the higher the amount that you have to pay – the less valuable the insurance is to you.
Don’t waste your time making endless phone calls to suppliers when the internet is readily available to do all of the hard searching work for you.
Below are a few of the things that you will need to inform the insurance company about before they provide you with a quote:
- Where you are going
- What activities you will be doing
- How long you will be away for
- How many people need to be covered
- If you have any existing illnesses
You will also need to disclose information about your age and sex and it is vital to be honest when taking out travel insurance, as the provider may not pay out if information is later found to be false.
What you want to be covered for during your trip will affect the cost, so if you want to do any of the following, be aware that this will affect the price:
- Mountain climbing
- Horse riding
- Scuba diving
- Sky diving
- Jet skiing
- Driving a motorbike
Any activity that is deemed ‘risky’ to the provider will affect the cost of your policy but you can take out specialist insurance deals to cover you if you intend on doing specific activities, such as bungee jumping.
There are lots of different packages to choose between and one of the most popular is the annual cover, which is great to take advantage of if you travel a few times a year.