Buying Travel Insurance: Avoiding Common Mistakes

It’s important to buy the correct level of travel insurance for your travels. Most people don’t need to claim from their insurance, but if you do, it’s important that you’re covered. This is especially true of certain situations in certain countries, for example, requiring medical care in America. Here, we’re going to look at some of the common mistakes that people make when buying insurance, and also how to avoid these mistakes.

Many people think they don’t need travel insurance, but understand that it may be legally required (e.g. when travelling to America). When this is the case, they usually opt for the cheapest cover. This is a false economy, because the cheapest cover is often one that doesn’t provide enough cover. People that buy cheaper policies have a hard time when something happens and they need to make a claim.

With travel insurance it’s always better to be safe than sorry. This is especially important when buying multiple trip annual travel insurance, because the more holidays you take, the greater the risk of things going wrong. You should never scrimp on travel insurance, especially on multiple trip annual travel insurance. 

If you don’t declare a medical condition, you can invalidate your insurance policy. That means that even if something happens that is unrelated to the medical condition, you’re still not covered. For example, you buy a policy but you don’t declare that you have epilepsy. Someone steals all of your luggage, so you try to make a claim, but find out that your insurance policy is invalidated. Always declare medical conditions!

Before you buy travel insurance, you should compare the policy to similar policies available from other insurance companies. It is unlikely that the first policy you find is the best available. In fact, it’s almost certainly not the case. Insurers will always give you the worst price the first time you ask for a quote. They expect you to haggle, so if you don’t, you’re losing out and paying too much. 

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