3 steps to cheaper travel insurance

Motoring and Travel

Updated on 06 May 2010 | 1 Comment

John Fitzsimons looks at some easy ways to keep the cost of your travel insurance to a minimum.

John Fitzsimons looks at some easy ways to keep the cost of your travel insurance to a minimum.

As the weather slowly starts to improve, I can’t help daydreaming about my summer holidays. But just as important as choosing the right place to go is getting the right travel insurance for your trip. It’s also all about getting that insurance as cheaply as possible.

So how do you keep your costs to a minimum?

#1 – Annual vs Single

Travel insurance policies fall into two main categories – annual multi-trip insurance, and single trip travel insurance. As the names suggest, the multi-trip insurance covers you for 12 months across a number of different trips, while single-trip insurance is just for the one trip.

So if you know you are going to be making a number of trips abroad over the next year, it is generally completely pointless to go for a single trip plan as you’ll end up forking out over and over again! Plan ahead, and you should save a few bob.

#2 – Get specific

Where you are travelling to also makes a difference to the cost of your premium. Perhaps unsurprisingly, travelling to the other side of the world will result in higher insurance costs than a week in the South of France. So if you are off to somewhere in Europe, make sure you go for a Europe-only policy. There’s no point paying more for cover you don’t need!

Also, if you are planning on doing some extreme sports while you’re away it will save you money in the long-run to get a policy that covers such sports. The premium will be higher, but at least you know you’ll be covered if you have a mishap.

#3 – Shop around

This final tip is an obvious one, but a very important one nonetheless. Shopping around for the deal that offers you precisely the cover you are after, but at the cheapest price is an absolute must. We at lovemoney.com have our own travel insurance quote engine that you can use to find the most competitive deal for you in just a few minutes.

Visit lovemoney.com/travel insurance to find out more.

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