You should make sure you purchase a travel insurance which covers your every requirement. Whilst you may want to reach for the cheapest policy in order to save yourself a few pounds, this may not be beneficial in the long run as you need one which will help you the most in times of need. There are a few things you should consider and think about before you find your ideal cover.
1) Medical Cover
This is one of the most important aspects of your travel insurance. If you are travelling within Europe, you should find a European travel insurance which gives you at least £2 million worth of medical cover. However worldwide travel insurance should provide you with around £5 million worth of protection. Whilst this may seem like an inconceivable amount of money, hospital bills can be extremely expensive abroad and it is best to purchase a policy which covers extreme medical treatments. If you do not purchase travel insurance, a medical emergency could leave you in serious debt or bankrupt.
2) Cover for Lost Valuables and Luggage
All travel insurances will normally cover you for a certain amount of lost or stolen goods. It is advisory that you purchase a policy which covers you for around £1500 worth of possessions. Also make sure that your travel insurance covers you for if airlines lose your baggage; luggage is lost annually so it is important to safeguard all your possessions.
Most insurance companies will also put a limit on how much you can claim for individual valuable items. Most companies will only pay between £200 and £500 for one item, so try to avoid taking valuables which exceed this limit on holiday with you.
3) Cancellation Cover
Look for a travel insurance policy which will provide you with some compensation if you cancel or cut short you trip. Many companies will give you this extra if you have suffered an illness or bereavement. You should try and look for a company which will cover you for around £3000 including any excursions you have paid for prior to your holiday. Also try to find a policy which will cover the cost of your trip home.
4) Personal Liability Cover
Personal Liability Cover is an important feature of any travel insurance regardless of the fact that is hardly ever used. This will cover you for any legal costs in case you accidently injure someone or damage their property. You should try and find policy which will cover you for at least £1 million.
5) Anything Extra?
There are a few companies which will cover you for a few extras. Some will offer a new-for-old cover; this means that any of your stolen or lost valuables will be replaced by brand new items. Some companies also offer spectacle cover for if your glasses are broken or lost whilst you are away; you will have to search around for this deal as many companies do not have this offer. You should also try and pick a company which has a 24 hour helpline so that you can contact someone and get help and advice at any time.