Tips on How to find the cheapest travel insurance

| November 25, 2013 | 10 Comments

So you’ve booked your flights and accommodation and what comes next? Your travel insurance. But doesn’t travel insurance always seem expensive on top of the price of your holiday you’ve just paid for!? Never fear there are ways to get the best cover without it costing a fortune.

It can be easy to take the travel insurance offered to you by travel agents or the airlines but do you realise you are often paying twice as much as you need to for the convenience?

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This is why you need travel insurance.

How to find the cheapest travel insurance

There are heaps of ways you can save on your travel insurance and not compromise on cover.

Buy travel insurance direct

To get the best deal – buy direct. If you book it with an airline or travel agent they can often charge 50% commission on top. To get a cheap deal buy online directly with the insurers.

Compare

Like any type of insurance you should shop around and see what deal you can get. Prices will differ from insurer to insurer so you should compare the levels of cover, at the price you want to pay, and see the best deal you can get. The best way to compare policies is to use a comparison site like www.comparetravelinsurance.com.au which lets you compare 100’s of travel insurance quotes in seconds.

Consider how often you go on holiday

If you are going away more than twice in a year you should consider an annual multi-trip policy. You will already be saving yourself money by the time you take your second trip.

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Where are you going?

Different insurers have different pricing levels for the same countries. For example some may list Japan under Asia, some may list it under Worldwide. Pick an insurer which classes your destination in a cheaper region.

Length of trip

Some insurer’s base their pricing on the destination you spend the most amount of time in, others the furthest away. If you’re travelling to lots of places and spending the least amount of time in the place furthest away you can save by finding an insurer that favours the time spent option.

Level of cover

There will be more than one cover level available for you to buy – basic, standard and comprehensive. You can save by working out what cover you need for your trip. E.g. unlimited medical cover is vital if visiting places such as the USA and many European countries, where medical care is expensive. For other destinations, a lower level of cover might be ok.

Don’t under insure

Don’t just pick the cheapest policy you find. The worst thing you could do would be to not have enough insurance and have to pay thousands of dollars as a result. If you go for a basic policy – make sure it covers the cost of medical treatment. Did you know a 1 night in hospital in the USA could cost you $21,000! Travel insurance can cost as little as $40 a week so really it’s a small price to pay compared to the thousands of dollars you could face in medical fees.

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Group policies

If you’re travelling in a group of friends or with your family a group policy might save you some $$.

Discounts

Check if you can get a discount from the insurance company you have used before – it doesn’t just have to be travel insurance – it could be the insurer you use for your car or home insurance perhaps.

Increase your excess

To pay less on the insurance premiums you can choose to increase the excess payment should you need to make a claim.

Final tip on how to find the cheapest travel insurance… Remember to not just buy the cheapest policy you see! Pick the best travel insurance with a good level of cover at a price you can afford.

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Comments (10)

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  1. Jeff says:

    I will definitely consider them, they are great tips. Thanks Four Jandals for these great articles.
    Jeff recently posted..Are Credit Card Companies Out to Get You?My Profile

  2. Kristy says:

    Nice article! I would likely do the tips you’ve mention here on finding the cheapest but reliable travel insurance for me.

  3. Arti says:

    Makes sense to buy it directly from the insurers. I will do it from the next time. A very helpful post, I got it done from the travel agent till now. Will explore other options from now on :)
    Arti recently posted..10 Insanely Tasty Vegetarian Foods From North IndiaMy Profile

  4. Naia says:

    Excellent as well helpful article.I was trying to search for a cheap travel insurance and now it’s easy for me.Thanks a lot for sharing such a well-covered info.Keep it up!!
    Naia recently posted..Bharatpur- A Paradise for the Siberian CranesMy Profile

  5. One thing not mentioned here is those policies that allow you to select which elements you ensure rather than a bundle. I’ve not bought one for a long time but, when I did, I bought the sort that allowed you to pick medical but not baggage

  6. Will says:

    Great article, I always find it a hassle finding goog travel insurance, especially because I am more inclined to extreme sports these days, its always hard to find something to gives good overall cover. I found STA to be pretty good.
    Thanks
    Will

  7. When you travel it is also best to think of your safety. I mean you never know what might will happen. This is very helpful and informative. Everytime I travel I make sure I have the quality and reliable travel insurance.

  8. I dont believe that cheaper insurance is always better. Pay a little more and choose your travel insurance plan wisely. I do extreme sports thats why travel insurance is important for me.
    Jacob Soderman @NPI recently posted..The 8 Types of Insurance a Non-Profit Should ConsiderMy Profile

  9. SarahCris says:

    You have to be wise when securing for travel insurance. In Singapore the citizen are required to secure a travel insurance before going out of the country. You have to research to find out which one that fits your budget and your type of vacation. Because i have stick to my travel insurance for a year now.

  10. Gracey says:

    Travel insurance is helpful to get cover of your any lose while traveling. It is a beneficial policy to be per-secrue from any accident . Helpful tips to find quality travel insurance.

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