We’ve all been there: you’ve booked a trip across the country or overseas and just realized the expenses don’t end there. It’s time to look into travel insurance coverage. While this tends to be one of those expenses you detest paying for because you don’t actually reap any rewards until you need to make a claim, travelling with insurance is essential. Lucky for you, we want to help you minimize the cost you pay for insurance, so you can spend more money eating, drinking and exploring. We’ve compiled a list of 7 of our best travel insurance hacks. Check them out below.
1. Make plenty of comparisons and shop online
Before choosing the first travel insurance policy you come across, you’ll want to make comparisons to ensure you get the right type - and the most affordable type - of travel insurance on the market. The online world has a vast choice of travel insurance, with both well-known providers and lesser known companies. You can quickly and easily make all of your comparisons online, finding the right type of insurance to cover your needs. Shopping online for travel insurance can also come with discounts and more perks, and generally opens you up to a world of possibilities.
2. Check out Multi Trip Annual Insurance
While you're researching policies and comparing prices, check out Multi Trip Annual Travel Insurance. This is designed for people doing more than one or two trips a year, so it's best for the frequent flyer, but it's definitely worth comparing the cost and features when you're checking out your options. If you know you're headed out of the country again within 12 months of your trip, this could save you some cash.
3. Book your trip with a credit card
If you’re heading across the country or overseas, booking your trip with your credit card can help you out of many potentially sticky situations. This is because credit cards usually come with a host of travel insurance coverage, and some can be extensive depending on the type of credit card you have and the provider you’re with. Some credit cards come with flight and trip cancellation insurance, while others may offer more perks like airport lounge access and free upgrades. The catch is that you have to book the flights, hotels and other aspects of your trip with your credit card, or else you’ll find yourself out of luck if you want to make a claim or complaint.
4. Extending your trip? Extend your policy
If your trip is coming to an end, but you’ve decided to continue your journey of self-discovery (or local cuisine discovery!), it’s often cheaper to extend your policy with your existing insurance provider. Simply contact your provider in order to get a quote to extend your coverage. You may be able to negotiate the price down if you ask, since the company will likely want to continue doing business with you.
5. Get coverage for only what you need
When making your comparisons, think about the type of trip you’re taking. Are you going to be jumping off cliffs, kayaking in dangerous waters or scuba diving? Perhaps you’ll be lazing on a beach or joining a bus tour. Whatever the type of adventure you’re headed on, the cost of your insurance will be greatly impacted by it. Opt for an insurance policy that covers the specific types of activities you’ll be doing, whether that is winter sports, water sports or less adventurous activities. The more risky your adventures, the higher your travel insurance will likely be.
6. Take advantage of multi-policy discounts
If you already have other types of insurance with the same provider, like car or home insurance, you may be able to bundle travel insurance into the mix for a cheaper price. If you’ve been a long-time customer with a good track record, you additionally may find yourself with more affordable options. Reach out to any existing insurance company you have and see what they have to offer. You may also have some negotiating power if you’ve been a long-time client.
7. Take care of yourself and keep organised
The best way to avoid having to pay expensive insurance coverage is to simply take care of yourself and opt for a low-cost low-coverage insurance policy. While unexpected things tend to happen, from hospital visits to lost luggage, if you exercise some caution you may be able to get away with minimal coverage. For example, you can ward off pickpockets by using an anti-theft bag that can keep pickpockets and bag slashers out of your belongings. In the event that something does goes south, keep yourself organised. If you do have to file a claim, you’ll want to have easy access to receipts, documentation and paperwork in order to prove your claims.
Before you jump on that bus, plane or train, make sure you have some type of travel insurance in the event that something unexpected happens. While paying for insurance is one of those things you don’t actually appreciate until you need it, you’ll be thankful you have it if you experience the loss of luggage, a cancelled flight or a medical emergency. There are plenty of other little insurance travel hacks out there, so we would like to know what some of your favourites are. Leave them in the comments below!