Before looking at ways to save money on it, it might be helpful to review why you might need travel insurance. On the 18th of July 2015, the Association of British Insurers (ABI) published some revealing statistics:

  • During the course of 2014, nearly half a million British travellers claimed on their travel insurance policies to a combined total of £370 million;
  • This included an average of 3,800 people a week (202,000 annually) who needed medical assistance or treatment whilst abroad;
  • Some £4 million a week – or more than £206 million – is paid out in medical claims alone; yet
  • More than one-fifth of Britons travelling abroad continue to do so without insurance.

On vacation

Lessons

There are a number of lessons to be learnt from these few statistics:

  • Perhaps one of the biggest is that you stand to save a whole lot of money if you have travel insurance rather than paying the cost of emergency medical treatment if something goes wrong whilst you are away;
  • But it is not just medical emergencies that might leave you seriously out of pocket – the Citizens Advice Bureau mentions a number of others, including;
  • The cost of having to cancel or cut short your travels for reasons beyond your control;
  • Missed transport or other connections for no reason of your own;
  • Lost or stolen baggage, money or passports; and
  • Your liability for any injury or property damage your actions (or inactions) might cause others;
  • Saving money doesn’t just stop at your decision to buy it, however;
  • With literally hundreds of different policies to choose from, it is important to choose the one that suits your individual needs, circumstances and the type of travel you are undertaking;
  • Matching your needs and requirements to the policies available is good reason for choosing a specialist provider of travel insurance – such as Bengo Travel – in a position to focus on the particular type of holiday you are taking and tailor a price competitive insurance policy accordingly;
  • The part of the world you are intending to visit is also relevant and regions are typically grouped into the UK and Europe, worldwide excluding the USA and worldwide including the USA – with travel insurance to the USA typically more expensive than elsewhere, there is no point buying such cover if you are not planning to visit the country;
  • The activities you are planning whilst away on holiday are also important – travel insurance from a specialist insurer, for example, might include as standard some of the more extreme sports you might have to pay a supplement for on other policies;
  • Finally, if you are in the fortunate position of being a frequent traveller, you might want to consider the effective discounts available on your travel insurance by buying annual, multi-trip cover – thus keeping you safely covered the whole year round, no matter how many foreign trips you make.

The case for protecting yourself and your travel plans with adequate insurance is probably overwhelming, but that is no reason to pay over the odds for cover which might miss the mark of what you want. Discounts and savings may be available if you buy from a specialist provider – rather than leaving it to the last minute by buying cover at the airport, from your airline or from your travel agent.

 

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