How to save on travel insurance

Read on and find out how to get cheaper, but quality, travel insurance.

08:57 06 July 2013

There are just so many things that you cannot leave without when going on a holiday. One of them is travel insurance. This is a very important protection against financial losses if you’ll require medical assistance abroad for example or if you lose your baggage.

Here’s how you can save on travel insurance:

• First, buy only the kind of coverage that you currently don’t have. One of the must-haves is medical coverage. Before you include this on your travel insurance, check first if your credit card company doesn’t offer travel medical protection. Other perks that most credit card companies offer include: flight delay, baggage loss, and trip cancellation/interruption.

 

• Check your home insurance policy. Some home insurance policies offer umbrella/liability insurance that you can use when you go on a holiday. Check the policy or ask your broker to be sure.

 

• Multi-trip travel insurance. If you travel often, you can save a lot of money by taking out multi-trip insurance instead of single trip each time you go. If you’re travelling with your family, you may opt for family travel insurance, which is much cheaper compared to getting insurance for each individual in your family.