You can save on travel insurance if you buy car hire insurance before you leave the UK. Leaving it till you get to the airport can end up costing you as much as £10 per day. Buying Collision Damage Waiver (CDW) will ensure that you are not liable for cost in the event of an accident.
There is a much cheaper option – buy an annual policy when you are still in the UK. It will cost you about £50 -£110 depending on where you are going and it covers your liability for car hire excess, not only if the car is stolen. You can find some good policies by looking on comparison sites or searching online.
Avoid buying insurance from your bank or a travel agent
The travel insurance offers that travel agents offer are almost always very expensive. You can find much better deals online. Customers with “premium accounts” at banks have travel insurance included in the cost, but it is a very expensive way to buy it. Get rid of the account that can cost you up to £300 per year and rather look online for a deal. Debenhams travel insurance is available both in store and online to make it easy to buy your travel cover.
Do not end up paying for pointless travel insurance
Get your hands on a European Health Insurance Card from the post office or ehic.org. This card is the replacement for the old E111 forms. This insurance card gives you lower costing or free medical treatment in EU countries. Norway, Iceland, Liechtenstein and Switzerland are also covered with this card.
Make sure that you check your home insurance policy. Many home insurance policies have clauses that already cover personal belongings when you are not at your home. Check your private medical insurance policy, because they often cover the cost of treatment incurred abroad. The only real benefit that travel insurance gives you is cancellation cover, which is why you need to decide if it is worth paying premiums – sometimes £100 or more per family.
Buy an annual policy
If you are travelling outside the EU, it is very important that you buy insurance. Annual worldwide multi-trip policies are what you need, especially if you go more than once per year. Buy at one of the comparison sites, where you will not pay more than £60per family. Do not go for the cheapest policy – they tend to have a limit on baggage claims of £500, sometimes even less. TravelPlanDirect’s tariffs are one of the cheapest available online.
Buying single-trip policies are only worth it if you travel once or twice a year, and not if you are going to the US – although they can be better value for older people.
Check the T & Cs
Insurance companies often refuse to pay for a cancellation caused by a serious illness or death of a close relative. Many insurers only cover immediate family and exclude any other family members from the policy. Many times they will also refuse to pay out if your holiday was booked when the persona knew that their relative was already ill.
Older travelers need to beware
People over the age of 65 and with pre-existing medical conditions have the worst travel insurance issues. Older people need to make sure that they declare any information that would affect the calculation of their premiums. Never assume that the charities or businesses that specialize in the over-50s market will be the cheapest. Insurance prices generally start to rise once you get to 65, and increase even more when you hit 75. People who take several trips a year should still aim to buy an annual policy.
The best buy for people over 75 is from Intune. The Intune policy has no upper age limit, and does still cover most pre-existing medical conditions. Columbus Direct and Golfguard are both good options for singles that are travelling.
If you have a medical condition …
Cover My Travels is a popular choice, but they will only give you a good deal if the condition has been stable for at least 12 months. 24DrTravel, Freedom Insurance and Medici Travel are all good alternatives if your condition is not stable. Try Bradford & Bingley if you have been in hospital recently.