Travel is said to broaden the mind, but for peace of mind it makes sense to secure the right travel insurance before you head off.
According to Compare the Market, almost one in four people fail to take out travel insurance, leaving themselves at risk of returning home with a hefty bill should the worst happen – according to the Association of British Insurers, the average cancellation claim is £816, while the average medical claim is £1,300. Ouch!
That’s not to say that the world of holiday insurance is easy breezy. With so many different policies on the market, narrowing down the right one for you can feel like an overwhelming chore.
But fear not, travel fans – we’ve simplified the world of travel insurance to help you secure the right policy for your trip in a jiffy …
Is travel insurance really necessary?
Look, no one’s going to stop you from travelling without insurance, but it really wouldn’t be advised. We all head off in the hope that our trip will be all sunshine and poolside margaritas (well, some of us do!), but sadly not every trip is quite so blissful.
Medical claims are one of the highest costs facing insurance companies. The NHS might treat us for free, but medical care in other parts of the world can come with a sizeable price tag, and some hospitals overseas may not even treat you unless they know you can pay for the care.
So whether you fall ill, have a valuable item stolen or have to cut short or extend your trip due to an emergency, forking out for travel insurance could save you big bucks in the long-term.
One size does not fit all
Travel insurance is like a good suit – it’s got to be tailor-made. There are almost endless variables to consider; from whether you want single trip or annual cover, to the number of people you want to include on the policy, and the activities and eventualities you want to insure against.
Yes, finding the right travel insurance can be a tricky business. If you’re not sure where to start, Compare the Market is a good port of call. Not only can it provide you with an impartial and independent comparison of policies from a range of UK providers – based on your specific needs – in just a few clicks, but the travel insurance section of its website also has FAQs and helpful pointers (including sections specifically dedicated to different types of trip, such as golf holidays, backpacking and family trips) to help you narrow down your options.
Read the small print
As with all insurance policies, when purchasing travel insurance, it’s really important that you READ THE SMALL PRINT! Check you’re happy with the excess (ie the amount you’ll have to pay towards any claim you make), ensure you’re definitely covered for all the activities you’re planning on doing, and double check you’re satisfied with the circumstances under which you’ll be able to make a claim.
There is one more vital detail to check with travel insurance – how the country you’re visiting is classified geographically. Yes, you might think a country’s location is set in stone, but that’s not quite the case when it comes to travel insurance. Insurance providers group some countries differently; for instance, while some classify Egypt and Turkey as Europe, others class them as “worldwide” destinations.
Don’t leave your travel insurance to the last minute
If you’re one of those people who gets their travel money at the airport, this point is probably for you! Smart shoppers bag their travel insurance as soon as they’ve booked their trip. Why? Because if your holiday is cancelled or delayed you should, depending on the terms of your precise policy, be able to claim for it – which ought to take some of the sting out of the situation.
Head over to comparethemarket.com and get a travel insurance quote for your next trip. Customers of Compare the Market can also use the app to get two-for-one at restaurants and cinemas for a whole year. T&Cs apply
