subject: Finding Yourself Cheap Holiday Insurance [print this page] Exactly why so many of us will take this risk is a bit of a mystery. After all, there are plenty of cheap holiday insurance policies to be found online!
When you are shopping around for your cover, here are a few things to be aware of -
Where to Find your Insurance...
Don't be tempted to take out your cover at the same time as you book your trip! Many people are under the illusion that travel agents offer really cheap travel insurance, but this is rarely the case...
The reality is that you can pay around 90% less for your cover if you are prepared to look around. Try getting a few different quotes and don't forget to check out the price comparison sites!
The Cost of Being a Senior Traveller...
If you are over 65 years of age, then you will know that genuinely cheap travel insurance can be much harder to find. And this is because some figures from The Association of British Insurers -
A claim that is made by an older traveller will normally be around three times more than one that is made by someone younger... and policyholders who are over 65 are far more likely to make a claim in the first place.
This is fair enough and insurers will obviously have to take this into consideration when they are calculating the price of their policies. However, the cost of insurance can still vary quite considerably between companies so it is always worth shopping around!
Reading the Small Print...
The finer details of a travel insurance policy may contain some rather crafty clauses, so it is always advisable to read them carefully. For instance, some insurers will have a nasty habit of turning one claim into two...
If you have a fall whilst you are on holiday and you break your expensive watch in the process, then how will it be viewed by your insurance company? It should be seen as being one single claim. However, if it is deemed to be two separate ones, you will have twice the amount of excess to pay!
