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Comparing Cover

Comparing Policies And Costs

Not all travel insurance policies are created equal – far from it.

We’ve mentioned before that you really need to check your policy wording, as those super-cheap deals can become very expensive if you’re faced with huge excess payments, extensive exclusions, and limits on the cover you thought you had.

To illustrate these differences, we compared the cost and cover of our International Travel Insurance policy with two other popular travel insurance providers (who shall remain anonymous here).

 

Fair Methodology

·         We used one set of details for Traveller X and his planned trip – for our own quotation and the exact same criteria for the others that we sourced, to ensure we were comparing fairly. The comparisons were both done on different price comparison websites.

·         Our own price is based on a quotation obtained directly from our website www.onestop4.co.uk - i.e. with our standard 20% discount.

 

Traveller X is…

Male

Age: 81

Travelling alone to the Canary Islands

Travel dates: 3/11/2018 to 18/1/2019 – 76 days

Pre-Existing Medical Conditions – Squamous Cell Carcinoma, Vit B12 Deficiency, Wet Macular Degeneration (now partially sighted), Soft Tissue Damage, High Blood Pressure.

 

 

 

Cover Included

Option A –

Our Policy

Option B –

The Cheap One

Option C – Similar Cover, Different Price!

 

Cost

 £704.48

 £569.35

 

£1,748.31

 

Cancellation

 

£1,000

 

0 (excluded)

 

£1,000

Medical

Unlimited emergency medical care & medical repatriation.

 

£10,000

 

£10,000

 

Baggage

 

£0 (but option for £1,500 of cover at £1.41 extra cost)

 

£0

 

£1,000

 

Standard Excess

 

 £150

 

 £500

 

 £100

 

What to look for when you compare:

If you’re saving on your travel insurance premium, how much could that cost you if you have to make a claim?

-       You’d save just over £140 on the premium for Option B over Option A, but you’d have to pay £500 standard excess on any claims, as opposed to £150.

 

Exclusions

-       Option B excludes cancellation – that means the cost of flights and accommodation wouldn’t be covered if you had to cancel – in the small print you would see curtailment is also excluded.

-       Many policies also exclude natural catastrophes and inclement weather, or seriously limit the cover if they do offer for these. We cover these risks as standard.

 

Points to consider

·         Does your home content policy already cover your personal possessions when you take them away from your home?

If so, then travel insurance for this is potentially unnecessary and you should check the terms of your home content policy before paying for what could be duplicate cover.

·         No-one books a holiday thinking there may be a strong chance that they may need to cancel it nearer the time of travel. Yet, the most frequent reason for a travel insurance claim is actually cancellation.

We book our travel sometimes many months in advance in order to get the best deals possible, but unfortunately life has a habit of changing our plans – so having cancellation cover really can make a huge difference to your pocket.