Types of travel insurance

Types of travel insurance

Make sure you read and understand the terms of any travel insurance policy you want to purchase. All policies will have different terms and may not cover every eventuality you need. The cost of your travel insurance will be determined by many factors, including:

• The countries you are visiting
• Additional cover you may need e.g. for extreme sports
• Your own - and your family’s – medical history

Annual

Annual travel insurance covers you for a whole year’s worth of trips. The cost of the insurance will depend on how much holiday you think you will need to take – most policies have limits on the number of days they will cover. Also, if one of those holidays requires extra cover, such as for a skiing trip, you will need to take out a new policy, or pay extra on your annual policy. But, with annual insurance, you have the convenience of only having to remember to buy your travel insurance once a year.

Single trip

Single trip insurance is the simplest form of travel insurance – it insures you for the duration of your trip, and most policies will insure you in multiple countries. However, you may find it is cheaper to get an annual policy, if you plan on going on more than one trip a year.

Family policy

A family travel insurance policy will cover the whole family for a trip abroad. Many policies offer discounts for family policies, and some will even allow children to be included on the policy for free. Depending on the policy, the number of children you want to insure may or may not affect the cost - a child is a person under 18.

Skiing/winter sports insurance

Winter sports are usually high risk activities, so you will need additional cover. This usually allows for the higher likelihood of injury, need for specialist care and loss/damage of equipment. Some policies also reimburse you if there is not enough snow at your resort.

Extreme sports insurance

Like skiing/winter sports insurance, extreme sports insurance covers things that normal travel insurance does not. If you are going abroad and plan to do any activities like skydiving or white water rafting, then you will need this kind of travel insurance. As above, this will cover factors such as injury and damage to equipment, but will be more expensive than a normal policy.

Golf insurance

While golf is not a high risk sport like skydiving, if you are going on a golf holiday you will need specialist insurance. The main element is that it should cover loss or damage to your golf equipment while you are abroad. It may also cover your use of a golf cart on the course.

Pre-existing medical conditions

If you have a pre-existing medical condition you may find it expensive to get ordinary travel insurance. Insurers often take a lot of medical conditions into consideration, even if you are considered as recovered.

However there are some insurers who have special policies for people with pre-existing medical conditions. It is also very important to be honest with your insurer – if you have a problem caused by your medical condition, and have not declared it, your medical bills will not be paid for.

Business travel insurance

Business travel insurance will be on an annual basis, as the assumption is that you will travel more than once a year. If you are a business traveller you will need additional cover, especially for equipment, such as laptops and PDAs. Some policies will also allow for a colleague to go in your place, in case you can’t make the trip.

Insurance for over 65s

Over the age of 65 you may find it harder to get good value travel insurance. This is because above this age is considered a ‘high risk’ category for insurers. However, more insurers now have specific policies for people over 65 that offer higher levels of medical cover.

Backpackers insurance

If you are planning on going backpacking you will undoubtedly visit various countries over a long period of time, and you may also need to work overseas. Backpackers should always opt for specialist travel insurance, which can cover you up to 18 months abroad.

Comparing travel insurance

Find the right travel insurance for your trips – use the uSwitch travel insurance calculator to compare lots of policies. It’s quick, simple, and you can buy online today.

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