Taking out travel insurance should be a simple, seamless and quick process, so that you can get on with your trip knowing that you’re covered for any unexpected events. However, travel insurance cover is not always affordable or comprehensive; hence we’ve decided to help you out with a guide on how to find a cover that’s not only affordable but also the right one for your needs, regardless of your intended destination or reasons for your trip.
How to Get Cheap Travel Insurance
While buying cheaper can sometimes lead to missing out on some important aspects of your cover, you don’t always have to settle for a trade-off. Luckily, we’ve got a few useful tricks up our sleeve that can help you save money on travel insurance, while still enjoying great coverage.
- Find a CompetitivelyPriced Provider – The measure of a competitive insurance provider goes beyond just offering the lowest premiums. They also need to provide different levels of cover so that you can choose the right policy that suits your needs.For example, you may only want essential medical cover with no additional extras, or you may opt for comprehensive cover to give you a peace of mind on an extended overseas trip. Be sure to read the fine print to find out what limits apply to your cover, as well as excess costs, and any additional costs that apply when travelling with a companion.
- Annual vs. Single Trip Policy – An annual trip policy enables you to purchase travel insurance for multiple trips that you’ve planned for the upcoming year or a period of 12 months. This is a great way to save money if you’re a frequent traveller. However, some annual policies come with limitations, like a cap on the amount of days you can spend in each destination.
Where to Find Cheap Travel Insurance
Where to get cheap travel insurance depends on your travel destination as well as the insurance provider you opt for.
- The Destination – In the same way that there are price discrepancies between different destinations, some destinations are cheaper to cover than others. Typically, the farther a country is from Australia, the more expensive it is to cover. Usually, the cost and quality of medical care provided in your preferred destination will also have an impact on the travel insurance premium that you will pay.
- The Insurance Provider – The type of provider you choose will also affect your travel insurance premium. You should look at more than just the price when comparing different insurance providers. As a rule, a locally owned and operated travel insurer is always the best option, but they should also be backed by an underwriter that’s reliable and trustworthy. You should also make sure that any claims you make will be handled by the same team that sold you the travel insurance policy, and you should always opt for an insurer that offers 24/ 7 emergency assistance, has been around and doing well for a while, and has good reviews from past customers.
- Pre-Existing Medical Conditions – Most travel insurance providers don’t offer cover for pre-existing medical conditions such as cancer, diabetes, pregnancy, heart conditions, or any ongoing medical condition that you have or are undergoing treatment for. However, some providers do, but on the condition that you undergo a medical assessment and have received treatment for the condition. So, find out which pre-existing medical conditions does your insurance provider cover, if any, as well as any conditions that you have to meet in order to qualify for it.