When we travel overseas, the one thing many of us forget to secure is travel insurance. We’re often too contented and excited that we forget this small but vital security blanket that can save us a lot of hassle when things go wrong during the trip.
1. Look For Travel Insurance Promotions
Keeping an eye out for insurance promotions is one of the first things to look for if you’re looking for cheap travel insurance.
Promotions on travel insurance usually happen just before the peak travel season (holiday season, summer break, etc.) when families are beginning to plan their vacations. Insurance promotions are a good way to get better deals since the insurers may reduce the premium payable and even offer incentives or freebies.
However, make sure to keep a note of the travel insurance coverage, especially on claims for frequent airport inconveniences like lost baggage or flight delays. These cheap yearly travel insurance promotions could mean lesser comprehensive coverage.
2. Find The Right Coverage For Your Travel Plans
Speaking of coverage, knowing what you want your low-cost holiday insurance to cover during your trip is another thing you will need to consider when comparing various travel insurance.
Cheap travel insurance plans often come with limited coverage, so comparing what the policy covers is the key strategy in finding a suitable one.
If you want more comprehensive and wider coverage, it would be best to go for a higher-tier insurance policy. Usually, the additional premium payable is not a lot more.
3. Annual Or Single Trip?
Depending on how many times you travel in a year, your insurance costs could be better covered with an annual plan.
For instance, if you travel outside the country only once a year, it would be more prudent to buy a single trip insurance policy. It’ll keep you safe and secure for that one trip you take, and you can be sure to have an insurer to back you up when things go wrong.
On the other hand, if you frequently travel within a year, buying annual travel insurance will be more cost-effective than buying individual single trip travel insurance policies.
4. Does a low-cost policy come with value?
Lastly, value for money is the most important aspect when comparing cheap travel insurance.
The one thing you want to get out of your travel insurance is good coverage for a lower price. Of course, this is not always easy to find, but to know that you’ve found the “cheapest” possible travel insurance policy in the market is to know what you would consider value for your money.
Travel insurance that costs $5 could be considered cheap, but if it doesn’t cover your pre-existing condition or loss of luggage, then you are almost travelling without any insurance protection. But a $15 travel insurance policy that covers your health, flight delay, and luggage can be very valuable to you as a traveller.
Find Your Travel Insurance Now
Having cheap travel insurance shouldn’t only be dependent on the amount of premium you are paying for. It should consider the coverage you are getting from it as well. A travel insurance policy that is cheap but does not cover the important needs that you want is just the same as having no insurance.
Want to get insured now? Click here to get a quick quote and see what HL Assurance has to offer!
Frequently Asked Questions about Travel Insurance
Can I extend my travel insurance coverage if my trip is extended?
A: Yes, you can extend your travel insurance coverage, subject to our underwriter’s approval. For extended trips or unforeseen delays, contact us before your policy expires.
Annual Trip Insurance vs Single Trip Insurance – Which travel insurance is better?
A: Finding low-cost holiday insurance with comprehensive coverage is about comparing different policies and understanding what aspects of your trip you need to be covered. For instance, a Single Trip Travel Insurance provides coverage for the destination you’ve indicated. However, if you have already planned to go on more than two trips in the year, Annual Trip Travel Insurance gives better value.
Disclaimer: All info contained herein is intended for your general information only and is not a substitute for insurance advice. If you have a specific question, please consult our insurance experts at 6702 0202.
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