When planning your holiday you would be forgiven for thinking only of white sands, fluffy snow or breath-taking views. But deep down we know holidays don’t always go according to plan! Fraught with hazards, flight cancellations and volcanic ash, you would be wise to shop around for trusty travel insurance. Use these tips on how to save and you won’t end up covering everything but the kitchen sink.
By Anna McDougall, The Money Maven
Do Your Research
As with anything you’re unsure of, make sure you shop around for the best possible deal on your travel insurance. Using the Internet to surf the best prices will save you considerably on your travel insurance. Gone are the days of visiting the travel agent, all you need is to be wired up to compare and contrast the latest and cheapest deals online.
Start with https://www.comparetravelinsurance.com.au
Who are you?
Without getting philosophical, you simply need to consider: Are you travelling singly? Are you a couple? A family? Backpackers? In a group of more then ten? A pensioner?
A joint of family deal is often cheaper than purchasing separately and some group discounts apply to groups over ten people. Keep in mind, the fewer people travelling closer to home the better, so don’t over-cover unnecessarily.
Single-Trip vs Multi-Trip
How often do you travel abroad? If you know you are going to travel at least twice in a year, consider an annual policy. It can work out cheaper to have annual cover rather than buying two single trip policies. On the other hand, if you are only going away once in a year, a single trip policy will be better value.
Don’t Under Cover
As a rule of thumb, baggage cover and cancellation cover should be at least as high as the value of the baggage you are taking, and the cost of your holiday so you are not left high and dry when disaster strikes. But at the same time you shouldn’t be paying for anything you don’t need.
Even the cheapest of travel insurance policies will cover the cost of medical treatment. But remember you’ll pay to pay a hefty fee if you claim to getting injured in the Running of the Bulls, or something that your policy doesn’t cover. Which leads us to…
Where are you going?
Your destination will ultimately determine your level of cover. Suggest you take out insurance with unlimited medical cover if you’re visiting countries where medical expenses are high such as America or European countries.
Will you be hitting the ski slopes in Whistler, scaling Mt Kilimanjaro or scuba diving in Thailand? Make sure that your travel insurance policy covers these!! Also, be up front about any pre-existing medical conditions you have that may invalidate your travel insurance policy and cost you big-time.
Read the fine print.
Make sure your policy covers you for cancellations, luggage and possessions, cash, legal expenses, delay, medical emergency and repatriation.
For example Catastrophe cover will help you if you suffer delays and cancellations due to major events (e.g. Volcanic Ash Cloud) but don’t assume that you are covered on a standard policy without it specifically mentioned. Make sure you source help lines, contact numbers, websites and email addresses of your travel insurance company if something of a catastrophic nature arises.
Check out the Aussie travel insurance websites and guides and start shopping around for the best deal!