There are many ways in which you can save money on your travel insurance plan. You must weigh your needs against the features of the plan.
Travelling can be a lot of fun. From meeting new people to exploring new locales, a vacation can be enriching. But, a good travel insurance plan in hand will make your trip hassle-free too. The plan will cost you some money, but the benefits you get out of it will be worth it. If you still are apprehensive about spending money on travel insurance, look at the tips mentioned to save money on the insurance plan.
7 Tips to Save Money on Travel Insurance
Here are some interesting tips on how you can save money on your travel insurance plan:
- Compare the plans: Like in all other forms of insurance, you can save much money by comparing the available options. Comparing the travel insurance plans will help you find the best policy at the best rate.
- Don’t buy insurance from travel sites: When you book your tickets or hotel online from the travel sites, you will receive options of buying travel insurance too. Don’t buy the plan from there. This is because the travel sites offer a fixed plan for everyone. In reality, insurance needs differ from person to person. So, go in for a separate plan from an insurer of your choice. Look to include the covers that you need to economise your travel insurance policy.
- Look for refundable bookings: Certain air tickets are refundable, as are some hotels. Look at your bookings in detail. Opt for insurance only for the non-refundable bookings on your itinerary. This will reduce your coverage and bring down the premium of your travel insurance plan too.
- Don’t over-insure yourself: It is essential for you to get adequate travel insurance. But, it is of no use to get extra, unnecessary insurance. Get a comprehensive but tight cover. Avoid paying a higher premium for a coverage you do not need.
- Check for riders: At times, a basic travel plan is enough. At other times, you need a larger cover. Analyse your trip requirements to understand your travel insurance needs. For example, if you won’t be travelling by road much during the vacation, do not opt for the rented car coverage option. This will help save money on your travel plan.
- Look for multi-trip cover: If you are a frequent flier or have many trips lined up in a year, opt for the multi-trip travel insurance plan. Such a plan is cheaper than a single travel plan.
- Home insurance cover: Most travel insurance plans offer a home insurance cover along with your travel plan. But, if you already have a home insurance plan in place, opt out of this cover.
As you see from the points mentioned, there are some basic ways to save money on your travel insurance plans. These plans are affordable. By following these tips, you can make them even cheaper. So, what are you waiting for? Just log on, run a quick comparison and find the best plan at the best rate. Travelling without insurance is never a good idea. When the travel insurance plans are available for less, why not make the most of them?