There are many cheap options available online today. Travel insurance can be purchased each time you travel, or alternatively annual cover can be taken out to insure you on a number of trips throughout the year. Whichever you choose, most policies are taken out as a standard combined package, which will give you basic financial cover for a whole host of incidents. Typically, a standard policy should provide financial assistance or compensation in the unfortunate event that one or more of the following incidents occur:
1. Delay or cancellation of your trip, for reasons beyond your control.
2. Medical emergency (including compensation paid to your family if you die or suffer a permanent disability whilst away).
3. Loss or theft of money.
4. Loss, theft or damage of personal possessions, including your passport.
You should also check that the insurance company will cover any legal expenses should you cause injury or damage to any other person or another person's property or possessions during your trip.
Are there any limits on the amount I can claim?
Yes. Limits and excesses are often applied to policies, and each area of the policy is likely to have different terms and conditions. Because of this it is important that you read your documents carefully before travelling to ensure that you know what you are liable for in the event of a claim.
Where can I buy my travel insurance from?
You could take the insurance out directly with the travel agent or tour operator when you book your holiday, however this method often tends to be quite expensive. Other options include buying through an insurance broker, or via your bank or building society, or alternatively through specialist insurers, the post office, or even supermarkets and credit card providers.
What is the best way to get cheap cover?
There is no clear-cut way to acquiring an inexpensive policy. However, most people find that dealing directly with an insurer, rather than via a broker or a travel agent, can save them money. These days, low cost insurance is offered by all kinds of companies, including credit card providers and supermarkets. Try shopping around on the internet, as online applications often qualify for better deals and discounts. Always make sure that you are getting a sufficient level of cover, and that you are not compromising on quality in order to cut costs.