Almost a third of people DON'T have Travel Insurance in place before heading off, risking £1,000s in medical bills. If you've booked a trip but not insurance, do it NOW. Whilst Annual Travel Policies can be inexpensive, they also vary dramatically in price. That's why we at ismybillfair.com are working on building a Priceometer so that you can compare the cost of your Policy with people like you who have the same risk profile. We plan on having this available for you very soon
In the meantime, we have partnered with Industry leading price comparison site to show you the very best Travel Insurance deals available in the market today.
We have tried to answer all of your Travel Insurance questions and give you all that you need to know in order to get yourself a fair deal.
Lets start with the basics. The whole point of having travel insurance is to cover the cost of something you hope won't happen like illness, injury or theft of your stuff or baggage while you are on holiday. It will also cover your costs if you have to cancel your trip, or need to head home early because there is some kind of problem or emergency.
Before you buy, there is a bunch of things you should know
You should always aim to get your insurance as soon as you've booked your trip because this will cover you in case of a cancellation or an illness before your trip. So if you have a holiday booked and think you will just leave insurance until just before you go then you are taking an unnecessary risk.
Next, you should check if you're already covered as you may already have travel insurance without even knowing it. In recent years a lot of bank accounts have started to offer travel insurance as one of their extra benefits especially if you are paying a monthly fee. Its important to check the terms of this cover though and make sure it is appropriate for your trip. It will probably be fairly basic cover and you may have to upgrade it for certain countries, for going on a cruise or for activities like Winter or Water Sports.
If you're an older traveller, or you are travelling with an older member of the family then you might want to think about getting a separate policy because the cost will usually be based on the oldest and highest risk traveller. Travel insurance is more expensive and more difficult to buy as you get older as less companies are happy to offer deals – especially if you are over 65. The annual costs can be over double the amount for a younger traveller.
If you think you might be travelling more than once in a year then you should take out an annual policy instead of single trip cover. This is because annual cover usually works out cheaper than buying policies for two single trips. But always do the calculations as it depends on where you are going and what you are going to do.
Lastly there are various factors which you should know will have an impact on the cost of your Travel Insurance
- If you are taking expensive items with you or carrying lots of currency then your insurer will charge you more.
- If you are planning on some winter sports or other more hazardous activities then you are more likely to make a claim, so your premium goes up.
- If you have any pre-existing medical conditions that might make a claim more likely. You should always be totally honest on your application as the last thing you want to happen is for an expensive claim to be rejected because you forgot or didn't tell the truth.
- Where you are planning to travel to. Cover for European holidays is often cheaper than if you plan to visit America or the Caribbean.
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