Travel Insurance - Cost saving tips and useful pointers.

Far and Away...

The world is your oyster with today’s travel options and reasonably priced flights offered to get you around the globe. We live in a greatly privileged society having access to skiing, tropical beaches and jungle trekking with just a few hours travel. I urge you to make the most of it but I offer words of caution (that’s my job!) even if you are just embarking on a booze cruise to Calais. In the event of an unfortunate accident away from home (or mosquito bite gone septic) you will find things much easier (and affordable) to cope with if you have proper travel insurance.

When choosing your policy I know you won’t say no to some cost saving tips…..

How Many?
Are you traveling with your partner/family or even a group of friends you might be happy to commit to a joint policy with? Multi-person policy’s can offer a substantial saving and would also ensure everyone is singing off the same hymn sheet should there be any unfortunate event.

How Often?
How many trips a year do you take? If you are the lucky person that gets a beach holiday, skiing and a few continental city breaks in between then it will probably pay to take out a year long ‘multi-trip’ policy. If you always travel with your partner/whole family then you should find a great deal with a multi-person year long policy.

How Much?
Is the policy covering you for value of personal belongings far in excess of what you actually need? Think carefully about what your luggage and valuables are worth, are you taking camera equipment and a laptop or is a sunhat and sarong about your limit? Make sure you are covered but over insuring will cost you un-necessarily.

What are you up to?
Check exactly what you are covered for as breaking your leg snowboarding will also hurt your wallet if your policy does not include winter sports cover. Think carefully about what you might get up to on any of your trips so that you can tailor your policy to cover water sports, bungee jumping or anything else you might fancy. If you wont be trying anything like this then check if your policy is automatically covering you for these things before you sign up, if you can remove winter sports cover from your policy because if you solely a sun worshipper this might save you a few pounds too.

Business or Pleasure?
If you are a regular business traveler expected to sort your own policy or if you own your own company then make sure any equipment you have to take with you is covered. If not, you might find yourself coughing up for expensive items if they get stolen. There are many policies available that can be tailored to cover your mix of business/pleasure including any additional sports you may partake in. If you are a pleasure seeker all the way make sure you are not paying for un-necessary business cover in your policy.

Shop till you drop!
We recommend getting three or four quotes so that you are satisfied you have the best overall package with regard to both price and content.

The opinions expressed are those of the author only. The material is for general information only and does not constitute legal, financial or other form of advice. You should not rely on this information to make (or refrain from making) any decisions. Always obtain independent, professional advice for your own particular situation by an FSA authorised company where the market is FSA regulated.