Is the Best Travel Insurance Always the Cheapest?
For many people, the decision on the best travel insurance policy to purchase will be the one they don't have to pay a small fortune for. These kinds of policies tend to be relatively cheap, but it does depend on the individual policy and the nature of its small print.
Here are three reasons why you may not always want to get the cheapest policy.
How high are the excesses?
This is a commonality with many policies. The higher the excess goes the cheaper the policy will be. The cheapest ones always have the highest excesses and you will have to bear the cost of these if and when you make a claim. Sometimes it can be better to get a slightly more expensive policy to make sure you have the coverage you need.
Does it cover everything you need it to?
A basic policy is pretty standard, but it doesn't tend to cover extreme sports. It may not cover certain illnesses either, although it can depend on how well they are managed and whether you are taking medication for them.
The point is to make sure your policy covers everything it needs to. If you are taking part in an extreme sport that usually won't be covered - without paying for extras. You'll need to make sure you get the best travel insurance for your own particular needs - and in this case it will need to allow for extreme sports specifically.
A cheap single policy won't cover the whole family or cover a longer period of time
The cheapest cover will usually be for an individual taking a single holiday - however this may not suit your particular needs. If you are travelling with your family it might work out better to get coverage for everyone on the trip in one go - pro rata this could be the best travel insurance for your situation.
Another option is to think about whether you could purchase a policy to cover the whole year instead of just a single trip. If you know you will go away more than once this could be the best way to proceed. It will definitely save money and may indeed prove to be a better option for your needs. It will also save you from having to arrange separate cover when your next holiday comes around.
As you can see it makes sense to focus on every aspect before you make a decision on which cover is right for you and your family. If you consider all the different areas that may apply in your case, you can make sure you get the right policy. Focusing on nothing but the price means you could end up with a poor return for your money. Covering all the bases is a much wiser prospect.
Here are three reasons why you may not always want to get the cheapest policy.
How high are the excesses?
This is a commonality with many policies. The higher the excess goes the cheaper the policy will be. The cheapest ones always have the highest excesses and you will have to bear the cost of these if and when you make a claim. Sometimes it can be better to get a slightly more expensive policy to make sure you have the coverage you need.
Does it cover everything you need it to?
A basic policy is pretty standard, but it doesn't tend to cover extreme sports. It may not cover certain illnesses either, although it can depend on how well they are managed and whether you are taking medication for them.
The point is to make sure your policy covers everything it needs to. If you are taking part in an extreme sport that usually won't be covered - without paying for extras. You'll need to make sure you get the best travel insurance for your own particular needs - and in this case it will need to allow for extreme sports specifically.
A cheap single policy won't cover the whole family or cover a longer period of time
The cheapest cover will usually be for an individual taking a single holiday - however this may not suit your particular needs. If you are travelling with your family it might work out better to get coverage for everyone on the trip in one go - pro rata this could be the best travel insurance for your situation.
Another option is to think about whether you could purchase a policy to cover the whole year instead of just a single trip. If you know you will go away more than once this could be the best way to proceed. It will definitely save money and may indeed prove to be a better option for your needs. It will also save you from having to arrange separate cover when your next holiday comes around.
As you can see it makes sense to focus on every aspect before you make a decision on which cover is right for you and your family. If you consider all the different areas that may apply in your case, you can make sure you get the right policy. Focusing on nothing but the price means you could end up with a poor return for your money. Covering all the bases is a much wiser prospect.
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