There’s no doubt about it, having pre-existing medical conditions or being over 60 is likely to affect the price of your travel insurance, but that doesn’t mean to say that you should give up on the idea of finding competitively priced cover! Here at Medical Travel Compared, we love nothing better than to help our customers get a good deal, so here’s our top 10 money saving tips:
1: Shop Around
Don’t feel you have to accept the first quote you’re given. Buying travel insurance from travel agents, tour operators and airlines when booking a holiday may seem like a good idea, but in reality, these policies are unlikely to be the cheapest when it comes to insuring pre-existing medical conditions. On the same note, if your existing insurer has hiked up the price due to your age or because you have developed a medical condition – shop around!
2: Annual Vs Single Trip
If you only travel once or twice a year, then single trip cover is likely to work out cheaper than an Annual. However, If you’re a frequent traveller, then an Annual policy not only gives you the freedom to jet off when you like, but can save you money too. Worldwide policies cost more than European, so if you don’t plan on going outside Europe, don’t pay out the extra for a worldwide policy.
3: Choose Your Destination Wisely
When you have pre-existing medical conditions, where you travel can make a real difference to the travel insurance premium. It can even be the difference to whether you’re offered a quote or declined cover. Premiums for certain areas of Europe such as Spain, Canary Islands, Balearic Islands, Cyprus, Greece and Malta can be higher. This is due to these countries operating a high level of privatised healthcare, which in the event of a medical expenses claim could cost the insurer more. Areas such as USA, Canada and the Caribbean are the most expensive, and we urge people to get a travel insurance quote before booking their trip!
4: Check Your Home Insurance
Many people are not aware that they are covered on their home and contents insurance for personal belongings when they travel. If your home insurance does cover you in this way, then you could save money by excluding ‘personal belongings’ cover on your travel insurance policy.
5: Travelling Last Minute?
If you’ve booked a last minute holiday, do you really need cancellation cover? If there is absolutely no risk of you cancelling the trip, then why pay out for it! You could select a travel insurance policy that excludes cancellation and in turn lower the premium. Do be aware, by excluding cancellation cover, you will not be covered to curtail/ cut the trip short either.
7: Only Pay Out For The Cover You Need
It’s all very well having a travel insurance policy with all the bells and whistles but you could end up paying out for cover that you don’t really need. The higher the cover levels, the more expensive the policy. For example, if your holiday is costing £1,000, look for a travel insurance policy that covers cancellation close to this amount and not way in excess, such as £5,000 as you won’t need it!
8: Check The Policy Excess
Travel insurance policies that have a high excess are often cheaper to buy. However, it doesn’t work out so cheap if you need to make a claim, so bear this in mind!
9: Get a European Health Insurance Card
The European Health Insurance Card (EHIC) is not a substitute for travel insurance, however, it can still save you money when making a medical expenses claim on your policy! If you use your EHIC when abroad to reduce the cost of unplanned medical treatment, many insurers will waive or lower the excess on your travel insurance when making a claim (terms and conditions will vary).
10. Keep Comparing
Lastly, keep comparing!! Insurers premiums do change and just because you got a good deal in the past doesn’t mean to say that the insurer will be able to offer you the best quote on the market the next time round. So hop online here at MedicalTravelCompared.co.uk to do a quick quote comparison - it’s the best way to save money every time you travel!