Saving money on your travel insurance can give those extra pounds to spend on whatever you wish too while you are on holiday.
Now, if you are wondering how exactly you can do this, then look no further – here are some very valuable tips that can save you loads of cash on your travel insurance.
Do not end up for paying pointless travel insurance
Get yourself a European Health Insurance card. You can get these at your local post office or online at ehic.org.uk. This card has replaced the old E111 forms and allows you to receive reduced or free medical treatment in all EU countries, including Switzerland, Iceland, Norway and Liechtenstein.
Check what your home insurance policy covers. Many home insurance policies cover you for personal belongings outside of your home. You also need to check if your private medical insurance covers you for the cost of treatment abroad. Make sure that you check what your home and medical insurance covers – you do not want to end up paying extra for something you are already covered for.
Buy travel insurance online
Avoid buying your travel insurance through your bank or estate agent. They charge much more than if you had to buy travel insurance from an online company. People that have premium accounts at the bank will normally have insurance included, but this can cost you up to three hundred pounds per year. Get rid of the bank account insurance and do your homework online to find a company that can sell you travel insurance at a reduced rate. You can buy cheap travel insurance from 123.ie, The Post Office website, comparethemarket and even supermarkets such as Asda and Tesco.
Get an annual policy
It is very important that you buy annual insurance, especially if you are travelling outside of the EU. Buying annual policies make loads of sense, especially if you travel more than once in a year. You should shop around and never end up paying more than forty pounds per individual or sixty pounds per family. Do not always go for the cheaper option, they sometimes have a limit on baggage claims and could end up costing you more if you loose your bags. Buying single trip policies is only worthwhile if you travel only once or twice per year.
Check definitions
Many people complain that their insurance companies refuse to pay out for cancellations that are caused by the death or a serious illness of a close relative. Most insurance companies exclude anyone except the immediate family. Many companies will also reuse to pay out if your holiday was booked when the person already knew that they were ill. Be sure that you read and understand the definitions of exclusions on your policy.
It gets more expensive when you get older
It is very important for people over the age of 65 to declare any pre-existing illnesses to their insurers. These pre-existing conditions can affect the amount you pay per month. Do not think that people who specialize in insurance for elderly folk will give you the cheapest policies, because they often charge more and it rises, as you get older. Insurance for people over 65 is rather expensive and becomes worse when you get to the age of 75. The policies from Intune have been voted to be the lowest for individuals over 75. This company has no upper age limit and does cover people with pre-existing conditions. Other companies only cover people up to the age of 79.
What if you have a medical condition?
All hope is not lost if you have a pre-existing condition. You need to declare this when taking out your policy, otherwise it will be invalid.
