Never has travel insurance been more essential. Whilst we’d all love to career into our holiday with an anything goes spirit, relying on that sense of immortality which (relative) youth brings, the reality is somewhat different.
Indeed, without proper protections in place, and the metaphorical comfort blanket which decent travel insurance brings, there’s a danger that you approach your trip with reticence; what if I get sick from this just-shucked oyster? How much will hospital cost me if I dive into the sea wrong? Who will foot the bill if I slip on the cobbled streets of this gorgeous medieval town? Suddenly you realise you’ve spent a fortnight in your hotel room for fear of going out.
We don’t even need to mention the extra necessity for investing in cover at the moment, with the confusion and uncertainty which COVID-19 has brought. So, we won’t again. But how to choose the best policy, you ask, to give you the confidence to step into your holiday with an adventurous, anything goes spirit? Here’s a start; our 4 tips for choosing the best travel insurance in 2020.
YOU MAY ALREADY BE COVERED
Hey, woah there! Stop! Retreat. Take a deep breath, dude. Before you rush out and invest in that all-important travel insurance, it’s first sensible to check if you might already be covered, either by your standard bank account, your credit card or perhaps even your home insurance.
Indeed, many high street banks and credit cards offer free travel insurance to customers (sometimes only for those with a premium account) or travel insurance as an extra, for just a small monthly fee. Checking if this is part of your package could save you heaps of money.
Here’s a useful list of high street bank accounts (not exhaustive) who offer travel insurance for free or a small fee: Lloyds Bank (Platinum Account), Barclays (travel pack add-on), NatWest (Reward Platinum and Reward Black accounts for worldwide cover, Reward Silver accounts for European trips), Halifax (Ultimate Reward Current Account) and HSBC (Premium).
Even if your bank account isn’t on this list, it’s worth making enquiries as to what they offer in terms of travel insurance.
GET INSURED IN GOOD TIME
Should you have discovered through that search that you do in fact need travel insurance, it’s financially savvy to arrange this well in advance of your trip, if possible. Doing so in good time will help you avoid increased costs, which typically occur when you buy travel insurance last minute. What’s more, should you purchase insurance in advance, you’ll be covered if you have to cancel your trip, or if the airline you’re flying with goes into administration.
In general, you should never buy travel insurance from an airline or tour operator, but, as the providers over at Group Medical Services explain, it’s particularly prudent to steer clear of flight insurance sold at the airport, which is simply a very overpriced form of accidental death coverage policy and tends to be valid only for the duration of your flight.
Don’t waste your money. You’ve more chance of winning the lottery.
COMPARE & CONTRAST
Everything can be compared, contrasted, debated and scrutinised online these days, and for the consumer, this is excellent news. There’s a whole plethora of detail out there to keep buyers informed and able to make the most cost-conscious decision they can.
Compare The Market is the most obvious first port of call, if only for the catchy-as-hell ditty that springs to mind whenever you hear those three words. That said, there are loads of reliable, useful platforms to choose from, with Confused.com, Go Compare (another catchy tune!) and Travel Supermarket all helping you compare travel insurance at a glance. Don’t dive into a decision before weighing up your options online diligently.
The beauty of using these price comparison websites for travel insurance is the myriad different criteria you can use, from policy fine print to a ‘lowest price first’ filter amongst other options. The world is your safe-to-eat oyster!
FUTURE & FORESIGHT
Sure, if you could see into the future then you wouldn’t need unnecessary travel insurance at all. That said, if you do envisage yourself flying abroad regularly throughout the next calendar year, you’re better off opting for annual cover, which usually pays for itself after your third trip. Sometimes known as multi-trip travel insurance, the single fee paid for the following twelve months saves faff, time and money.
Do be aware that this doesn’t cover sprawling, backpacking trips, and each ‘single trip’ shouldn’t exceed 31 days. It’s a hard life.
There are generally three types of annual cover, according to MoneySuperMarket; European, Worldwide and Worldwide excluding North America. Choose your poison. But don’t drink it; you won’t be covered for that. Bon Voyage!