So you’ve booked your flights and accommodation and what comes next? Your travel insurance!
If you’re over 60, you might be finding it tricky to find a well-priced policy, but don’t worry. There are plenty of ways you can save on your travel insurance without compromising on cover.
Here are 6 top tips to help you save on your seniors travel insurance:
To get the best deal – buy direct. Did you know that if you book your travel insurance with an airline or travel agent they often charge 50 per cent commission on top? We know it’s convenient at the time of booking your holiday, but you’ll be paying twice as much as you need to for the privilege. Also if you’re just ticking a box with ‘yes’ to travel insurance when booking flights online you might not be buying the ideal policy for your holiday, or circumstances.
If you’re travelling in a group of friends or with your family, a group policy will be far cheaper than buying individually. Duo policies (as they are known) for couples are also great cost savers.
Now you’re retired you have more time to go on holiday. If you tend to travel more than twice a year you should consider an annual multi-trip policy. Annual policies covers you for as many trips as you can take in a year (internationally and domestically) and you don’t have to tell your insurer each time you travel!
When you buy your policy you can lower the cost of your premiums by opting to pay a higher excess if you need to make a claim. This sounds all well and good, but remember that if you need to make a claim, you’ll be paying more then.
Some insurer’s base their pricing on the destination you spend the most amount of time in, others the country or destination that is 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.
If you’ve used a travel insurer in the past you might be entitled to a loyalty discount. It doesn’t necessarily have to be travel insurance – it could be the insurer you use for your car or home insurance too.
Like any type of insurance you should shop around and see what deals you can find. Prices will differ from insurer to insurer so it pays to compare a few policies and benefits. An easy way to compare is to use a comparison website. They allow you to enter your trip details in one simple form, and then display quotes from many insurers on the same screen to help you make your choice.
Even though you might be looking for a bargain, you shouldn’t just pick the cheapest policy you find. The worst thing you could do would be to not have enough cover for your holiday, and have to pay big later as a result.
Ensure you get the right insurance for your trip and enjoy your holiday knowing you’re covered.
When is your next trip planned? Who will you book travel insurance through? Tell us below.