Travel insurance: considerations and warnings

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Group, family and couples policies

Since travel insurance providers work on the assumption that risk increases with each trip rather than each person, it will usually work out cheaper to get a travel insurance policy that covers more than one person. Therefore, when possible, go for couple, group or family policies rather than individual cover.

Annual policies

If you are planning more than two trips in a year it will generally work out cheaper (and more convenient) to get an annual policy. Remember: annual policies usually cover you for any trip over 2 days in length, even in the UK.

Comparing policies

When comparing policies always check what is covered, the level of cover and any benefits offered as well as the price so you can get an accurate idea of a policy's value. That being said.

Unnecessary cover

Despite what some insurance providers may say, it is highly unlikely that you will need £20m worth of medical expenses. You should always be aware that many "premium" travel insurance policies will offer you increased, but often superfluous, cover for more money. We recommend that for most people £2m medical expenses and £1m personal liability should be sufficient cover.

Purchasing travel insurance

Travel insurance can often be an afterthought when you're planning a holiday. But getting your insurance well in advance allows you more time to find the best policy and gives you one less thing to worry about during the traditionally hectic pre-holiday packing schedule. Unsurprisingly, we also recommend that you purchase your holiday cover online - travel insurance premiums are generally much cheaper when you buy over the internet.

The small print

The small print on travel insurance policies is not a fun read by any stretch of the imagination, but it is in your own interest to know exactly what your policy entails. Make sure you fully understand who and what is covered - such as what activities and sports you are covered for; which medical conditions are covered; whether your medical expenses cover ambulance fees; whether repatriation costs are covered etc. If you are unsure about anything it is advisable to contact the provider prior to your holiday.

Policy paperwork

You'll need those phone numbers with you when you travel, and try to keep them with you at all times - you never know when you might need them.

To compare travel insurance policies from leading UK providers please click here.

Author: KYM Editor

Important Notice
This guide is intended for general information only and is not intended as, and does not constitute, any form of advice, recommendation or endorsement by us of any particular product(s) or services and you should rely on your own further research and professional advice in relation to your specific requirements and circumstances before purchasing any products or services. Use of this guide is subject to the Terms of Use of the KnowYourMoney site.