Cheap Holiday Insurance

By: EconomyWatch   Date: 10 September 2009

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Cheap holiday insurance is a stripped down form of travel insurance that leaves out many aspects of a full coverage travel insurance that can be done away with. As the extent of coverage decreases, the premium decreases along with it. Cheap holidays insurance is offered by many travel insurance companies to get more people to insure their trips.

Before we understand the finer details of cheap holiday insurance, let us first go through the kind of trips that one might undertake:

  • Multi trip/ single trip

  • Long stay/ short stay

  • Adventure tour/ simple tour

Typical travel insurance covers a person for:

  • Delay, interruption or cancellation of the trip

  • Loss of personal items and baggage

  • Medical protection

  • Accidents and injuries

  • Liabilities 

Elements of Cheap Holiday Insurance

The reason behind low cost travel insurance being cheaper is that it leave out certain areas that might have been covered by other insurance policies, such as:

·        Default of the carrier: Cheap travel insurance leaves out the remittance for interruptions, delays or complete cancellation of the trip.

·        Pre-existing conditions: Any medical condition that existed prior to your travel is left out and no medical cost related to it is covered by insurance.

Tips on Getting Cheap Holiday Insurance

Many people do not realise but they pay extra premium for redundant coverage. Most of the times, theft while flying or medical complications are covered under existing insurances. Some tips that can help you find a budget-friendly travel insurance policy are:

·        Baggage insurance is mostly covered by the airlines. However, ensure that you read through the details to confirm this. If present, then there is no need to pay extra premium on your travel insurance.

  • If the medical insurance covers all your ailments and does not exclude illness during travel, do not ask for extra coverage through your travel insurance.

  • Check with your life insurance and check for crash coverage. If this is a part of the existing insurance, then you can leave out this coverage from your travel insurance and make it more economical.

Alternatively, one can approach various brokers and comparison sites to compare the different quotes for travel insurance. Comparing and taking the help of a professional always helps in getting cheap holiday insurance.


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