In 2009, a major financial survey brought some rather worrying figures to light…
Even though only 14% of holidaymakers will need to make a claim on their travel insurance, around three-quarters of us do not bother to take any out at all!
Now this is all a little strange… There are plenty of cheap travel insurance packages to be found online. Perhaps it must simply be put down to laziness?
But taking out insurance to protect you whilst you are travelling overseas is a must!!! It is just as important as remembering to take your passport!
Here are a few things to be aware of when you are organising your cover…
• Higher Prices for the Over 65’s
A traveller over 65 years of age is thought to be three times more likely of making a claim on their policy… and these claims are normally three times the size of one that is made by someone younger. These figures come from The Association of British Insurers and all insurance companies will take them into consideration…
So you can understand why insurance will be more costly for the older traveller. However, some insurers will still be far cheaper than others… So it is still worth shopping around for cheap travel insurance, even when you are a senior citizen!
• The Merits of Price Comparison Sites
Don’t be fooled into thinking that travel agents will provide the lowest holiday cover! This isn’t the case at all.
Taking out your policy at the same time as you book your holiday can result in you paying around 90% more than a cheap travel insurance company!
It is always worth looking for your holiday cover on price comparison websites! This will normally result in you paying a great deal less for your insurance. And if you take out a policy from a company you are already using for something else, then you stand to make an even bigger saving!
• The ‘Multiple Policy Excess’ Danger
You should always make a point of checking the small print in a travel insurance policy. One of the biggest reasons to do this is because some insurers will turn one claim into two separate ones…
Imagine if you fell down a flight of steps and broke your mobile phone. Would your insurance company see this as one claim or two??? It’s your job to find out because it could save you a great deal of money!