Travel Insurance Tip No. 7 – Tailor your travel insurance for your budget and holiday

By , December 14, 2011 2:44 pm
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Tip number 7 in our top 10 travel insurance tips is: Tailor your travel insurance policy to suit your budget and your holiday.

The days of simply buying whichever travel insurance is offered to you when you book your holiday are long gone. Today it’s easy to shop around and tailor your travel insurance policy to get the right cover for your holiday, either by adding additional travel insurance cover, or making sure that you’re not paying for travel insurance cover that you don’t need.

Let’s take cancellation cover as a starting point; if your luxury trip to the Maldives cost £5000 per person, you need to make sure that the cancellation cover amount in your travel insurance reflects that. On the same note, if you’re staying in youth hostels or camping, the amount of cancellation of cover which your travel insurance includes won’t be so important, so you could choose a travel insurance policy with a lower level of cancellation cover. Alternatively, if you travelling imminently you could choose to exclude cancellation cover altogether and reduce the cost of your travel insurance policy.

You could also choose to exclude baggage and personal money cover if you already have your personal possessions covered away from home as part of your home contents insurance.

You should also look at the ways you improve your travel insurance cover.
Check out what additional policy options are available to add to your travel insurance such as Scheduled Airline Failure, which is designed to provide cover in the event that your airline or other holiday supplier becomes insolvent, either before you go away or while you are in resort.

This type of insolvency cover is particularly important if you book elements of your holiday independently, rather than booking a package holiday with a bonded tour operator.

Another popular add-on is Natural Catastrophe cover, which provides additional travel insurance cover for cancellation and additional incurred expenses as a result of natural disasters, such as earthquakes, floods or the volcanic ash crisis in 2010.

Sports and hazardous activities, if you are planning on taking part in any sports or hazardous activities whilst you are on holiday, make sure that your travel insurance provides cover in the event that you have an accident and need medical treatment. Most travel insurance policies provide cover for a range of activities as standard, plus give the option to upgrade your travel insurance policy to include cover for more dangerous pursuits.

Travel insurance is available for sale all over the place, from travel agents, supermarkets, price comparison sites and direct from travel insurance providers, so there is no excuse for travelling with it.

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