Planning a holiday can be a thrilling experience, deciding where you want to go, making reservations for your accommodation, deciding how long you are going away for, and finally going on a shopping spree you get your travel essentials.
Let’s face it, booking a holiday is exciting but purchasing travel insurance can sometimes be overwhelming. It is usually the last item on the checklist of many UK travelers and when they get to it, the goal is to get the cheapest travel insurance available.
Affordability is important, but it should not be your only consideration, finding out what the policy actually covers is more important as policies vary by coverage, limits and benefits. Research has shown that consumers make some mistakes when it comes to ensuring the best coverage for a trip. Here are five common mistakes people make when shopping for cheap travel insurance and how you can avoid them.
Choosing the cheapest travel insurance without checking what’s included
When shopping for travel insurance, it is completely normal to choose the cheapest option offered without reading the fine print to find out what the policy covers, you conclude that why should you pay more if you don’t have to. Unfortunately, this is one of the most common mistakes made by travelers when shopping for travel insurance.
For travel insurance, different policies offer varying levels of coverage. Some cheap policies can limit the level of coverage you enjoy in key areas such as medical emergencies, trip cancellation or disruption and lost or damaged baggage. Others might have high excesses, which would require you to make a sizable payment on your own before the insurance company will contribute to a claim.
How to avoid this mistake
Consider value for money when selecting travel insurance rather than just pricing. Spend a few minutes making sure that:
- The maximum amount of medical coverage (particularly crucial for travel outside of Europe) is sufficient
- The amount of included cancellation coverage
- Whether personal items and luggage are covered by your insurer
- The amount of excess you must pay in the event that you file a claim
Cheap insurance can still provide adequate cover for your travels, you just have to ensure that the coverage suits your travel needs. Medical expenses abroad for example can easily exceed 50,000 Pounds, so adequate medical cover is crucial even when you’re on a budget. Paying a little extra for a comprehensive coverage can make a lot of difference, so that you can enjoy your trip, knowing that you are adequately insured in the event of an emergency
Ignoring medical cover limits
Many travelers scramble for cheap travel insurance without realizing how expensive medical care can be when you travel to countries like the USA, Canada, or Australia. Cheap travel insurance packages provide medical coverage that may appear adequate on paper but can fall short in reality. Before you buy that “cheap” travel insurance, ensure that the medical cover limit is adequate for your travel needs and the country you are visiting.
How to avoid it
Verify the maximum quantity of medical coverage at all times. Experts usually advise UK travelers to get worldwide insurance (anchor text – link to worldwide travel insurance) with at least £5 million in medical coverage. Make sure your pre-existing medical conditions are disclosed and covered, even if doing so can raise your premium.
Not paying attention to policy exclusions and fine print
To be honest, reading the terms of a travel insurance policy can be boring while making plans for your trip especially as the text is mainly written in small print making it difficult to read. Most people ignore the fine print and assume that they are covered for everything without reading through the terms and conditions of the policy.
Some policies have exclusions for pre-existing medical conditions not disclosed, alcohol or drug related incidents, high-risk sports like skiing and other winter sports (you can take out an optional cover for them). Travel insurance providers keep their premiums low through policy exclusions. This simply means that regardless of how genuine the claim may be, some activities, events, or situations will not be covered.
How to avoid it
You should patiently read the fine prints before buying any travel insurance so that you are aware of the exclusions. Before you say yes to that seemingly cheap insurance policy, consider the following:
- The policy’s exclusion clause
- The kinds of activities who would engage in during your trip and if they are covered, for instance, so high-risk sports are excluded in a standard policy
- Verify if incidents involving alcohol are limited or excluded
- If jewelries and personal belongings are excluded
- Your trip destination, ensure that there is no travel advisory issued against it from the UK foreign office.
Reputable UK travel insurance companies clearly state what is and isn’t covered. You can avoid unforeseen expenses and disappointment by taking a few more minutes to go over the fine print and make sure your travel insurance is effective when you need it most.
Choosing the wrong level of cover for your trip
When shopping for travel insurance, you must understand that there are different levels of coverage and they vary by policy. Travel insurance is definitely not one size fits all, it is common to assume that one level of coverage is sufficient but if you choose the wrong level of cover for your trip, you will be underinsured and may suffer grave consequences.
The risks associated with some kinds of vacation such as a ski vacation, cruise or a backpacking trip are different from those associated with a simple city break. Winter sports, cruises, and higher-risk activities like hiking, scuba diving, or renting a motorbike cannot be covered by basic travel insurance. Even if the insurance was inexpensive and appeared appropriate at the time, your claim is likely to be denied if something goes wrong while engaging in an activity that isn’t covered.
How to avoid this mistake?
The key to avoiding this mistake is to match your travel plans with your insurance. Consider the following points before you buy:
- What kind of vacation are you planning, does it involve winter sports?
- Are you going on a cruise, which will require specialist cover?
- What kind of activities will you engage in?
- Are you travelling long-haul or visiting multiple destinations?
Select a travel insurance coverage that explicitly covers all of your intended activities. Affordable add-ons that tailor cheap travel insurance to your trip without appreciably raising the price are available from several travel insurance companies.
Not researching on providers
Many people make the mistake of purchasing the first cheap coverage they come across when searching for cheap travel insurance without proper research on different providers and what they offer. Even though it could seem like a fast victory, failing to thoroughly compare travel insurance companies can result in losing out on greater perks, better coverage, and more reliable support offered at a similar price.
Beyond what is stated in your policy, there are so many factors to consider when shopping for travel insurance. For instance, if something goes wrong during your trip, the level of customer care, the simplicity of filing a claim, and the availability of round-the-clock emergency support can make all the difference. Certain cheap travel insurance plans appear attractive on paper, but they are sometimes offered by companies with slow claims processes or poor customer service.
When you focus only on the price, you tend to overlook other important aspects of your coverage such as limits, excess amounts, policy flexibility, claims process, and customer support
How to avoid: conduct a proper research of different providers
It is important to compare more than just the price in order to get the best value on your travel insurance. When comparing providers, take into account:
- Limits on medical coverage
- Limits on trip cancellations or travel disruptions
- The amount of excess you pay in the event that you file a claim
- If your insurance provider offers round-the-clock emergency support
- Customer ratings and reviews
- Claims filing process
- If you can update or extend your policy
You can discover reasonably priced travel insurance without sacrificing your protection by using comparison tools, visiting the websites of different providers or purchasing straight from a reputable travel insurance provider like Quays.
By taking the time to thoroughly evaluate travel insurance companies, you can make sure that you’re selecting a coverage that will truly support you in times of need rather than merely purchasing a cheap one.
Why cheap travel insurance should still protect you
Cheap should not mean risky or unreliable. You can be adequately covered without going over budget when shopping for cheap travel insurance by avoiding these mistakes and finding the right balance between cost and adequate protection.
Having the right kind of coverage for your trip allows you to have peace of mind and concentrate on having fun on your vacation rather than worrying about potential problems.
Ready to find affordable travel insurance?
Request a quote from Quays today!
Choose a policy that offers great value for your money, flexible coverage and reliable support you can trust.
