Why should you buy travel cover when you book a holiday?
If you’ve booked your main holiday and are already counting down the days, don’t let it be ruined by leaving it too late to buy travel insurance.
While none of us want to think about things that could go wrong in the time between booking and jetting off – for example illness, bereavement or redundancy – taking out a policy early could potentially save you thousands and offer you peace of mind.
Here we take a look at why you should purchase travel insurance with cancellation cover as soon as you book your holiday.
Taking out travel insurance when you book your holiday will not cost you a penny more, yet as long as you’ve ensured cancellation is included, you’ll be protected from the minute you’ve bought it.
It is easy to assume that you are automatically covered for various eventualities, but it is vital when choosing your policy that you check exactly what you are getting for your money as policies can vary considerably.
For example, it may be that you’ve booked a holiday such as a fishing or shooting and you end up sustaining an injury before you go. Your holiday is dependent on you being in good health, yet without cancellation cover you face losing up to 100% of the value of your holiday.
This is why it really is essential to plan for the unexpected and make sure you are covered. Going for the cheapest insurance may be tempting but a couple of extra pounds now could potentially result in you making huge savings in the long run.
For example, we found a single-trip policy to Spain without cancellation or baggage cover for £5.20. Adding these on brought the policy up to just £5.78.
However, the amount insurers are willing to pay out were you to cancel your trip also varies significantly with amounts ranging from £500 up to £3,000.
Therefore, do your homework and make sure the cancellation cover is equal to or greater than the price of your trip.
Read the small print
While most will cover unexpected events like redundancy, illness etc, they are unlikely to cover something you knew was likely to happen ahead of your holiday. It is crucial that you always read the small print of any insurance policy.
Also remember to check how much excess you would have to pay were you to claim for cancellation. This generally starts at around £50 and goes up to £300.
No one can control the elements, so what if a natural disaster such as a tsunami or hurricane was to strike in your holiday destination days before you were due to travel? Clearly, you would not be able to go and your holiday would be cancelled.
Finding the best travel insurance deal
When comparing travel insurance policies, the best advice is to take some time to work out exactly what level of cover you need and don’t let a couple of pounds now mean you are left under-insured when it really counts.
One real good source of finding the right insurance is MoneySupermarket’s travel insurance channel which will allow you to compare policies from a number of providers side by side and find the right policy for your needs.
And don’t leave it until the last minute – booking in advance won’t cost you any more, yet you’ll be thanking your lucky stars if the unexpected happens and your holiday has to be cancelled.
If you have any more questions on travel cover our contact our expert team who will be happy to help with your queries.