It's never been more important to get holiday insurance
Comparing holiday insurance can seem quite overwhelming. It really isn't!
Don't leave home without it. It costs travellers hundreds of millions of pounds every year in medical expenses, alternative flight and hotel bookings and other disruptions.
Don't forget travel insurance, so you aren't caught off guard.
*8.6 million image here*
Prepare for any eventuality. When you go aboard, you want to know that you're protected in the event of:
- a medical emergency
- personal liability
- cancellations or other possible situations that unfortunately do pop up for some of us.
Get a quote that's right for your needs and compare holiday insurance policies to get the best deal possible!
We've put together a quick guide to travel insurance with the most important information you'll need to make the best and most cost-friendly choice for travel insurance.
It's never been more essential to have your pre-travel checklist sorted. You'll need to think about visas and other travel document requirements as well as restrictions regarding vaccinations and negative tests.
What travel insurance policy should I get?
This will depend on what kind of traveller you are. There are many different options available, but a good starting point should be to look at these three broad categories of insurance policy:
Single-trip - the perfect choice for a one-time trip to a destination. Cover generally ends when you arrive back home. It's the most common type of travel insurance.
Multi-trip - also known as 'annual travel insurance' and is designed to be an economical alternative to single-trip travel insurance. If you travel roughly three or more times in a year, then you should get annual cover which is a 're-useable' insurance policy. It's usually cheaper than purchasing multiple, single-trip policies.
Back-packer - a product for the adventurers! If you're travelling to numerous countries on a single journey, then you'll want this flexible policy. It caters perfectly for the 'fluidity' of the traveller, and will include a number of extra features as standard within the policy to cater for the particular needs of that style of travel.
What am I covered for?
This is an excellent question. When looking at your policy quotes, there are things to consider beyond simply the type of policy.
There'll be variations to what's covered and there are also additional protections you can add to your travel insurance policy.
Some of the features to look out for are:
- Medical cover provided (and level of excess) - the single most important thing to consider
- Cancellation cover
- Gadget cover
- Worldwide cover (including USA)
- Worldwide cover (excluding USA)
- Insurance for cruises
- Sport and Activities cover - including equipment (e.g. skiing)
- Cost of getting you back home if you have an accident or fall ill
- Lost or stolen items
- Business Bankruptcy
Remember: a cheaper price can mean you are covered for less or have a larger excess amount. It's more important to think about what you need, rather than what you spend when it comes to ensuring you are fully protected. It can be more costly if something were to happen and you weren't appropriately covered.
Does my age affect the cost?
With almost all standard policies across the board, your age will play a factor in the premium you'll be charged for your policy. Travel insurance is no different.
When an underwriter analyses probability models to estimate the cost of a policy, one of the basic assumptions is the older you are, the more likely it is you may need to claim on the policy. One of the factors is the likelihood of needing medical care. As such, this component is included in the 'risk level' by the time a quote is presented to you.
There are lots of graphs and studies about this, but some can be misleading. The best way to know for sure is to search through 30+ providers through us who will give you up-to-date, competitive and specific quotes for your own needs.
Can I get travel insurance if I have an existing condition?
This used to be a real issue, but luckily, there are now providers who specialise in travel insurance for medical conditions.
These providers can also be found through us as we seek to ensure everyone has the chance to get protected, so they can travel with peace of mind.
Once you start looking for a quote, you'll see a section that asks you to 'click here' if you have a pre-existing medical condition. Just click and you are on the way.
Is travel insurance really needed?
A lot of holidaymakers are put off getting insurance because it can seem complicated and daunting. With all the other things to think about, it can feel like a low-priority task that can be put off or dismissed altogether.
But it can turn out to be one of the most important things you shouldn't have overlooked, so be travel smart and compare travel insurance with us.
While it might be tempting to take the risk - thinking things never happen to you - in the snap of a finger, you can find yourself in a predicament that can be very costly.
According to Finder.com in 2018, £399 million in insurance claims was paid out by travel insurers covering British travellers. The very next year, 2019, over 8 million British tourists travelled without insurance.
There are millions of claims made worldwide every year and the uninsured-market cost can be even higher and is paid out of the pockets of customers. This just shows the travel insurance market plays a vital role in the holiday industry and is highly recommended protection for everyone travelling internationally and even domestically.
We never want anything to happen and we can be as carful as possible, but remember things such as cancellations, travel disruptions or an accident will be out of you control to stop or change.
It's not just about you being covered from things you may do - but most importantly, from things that may happen to you.
Do I buy travel insurance before or after I book my flight?
The general consensus (which we also agree with) is to buy travel insurance right after you book your flight or holiday.
That way if there is a flight cancellation or an issue before you land at your destination, your cover is already live and ready to be used if needed.
As long as it's before the flight (if you are flying) then you're usually fine. A lot of holidaymakers buy travel insurance two or three days before they are due to head out.
But sometimes, it's better to get it sorted early, as you don't know what could come up between booking and actually leaving.
This is the nature of the game - we don't know what may happen on holiday, but if you're insured, you've made a good decision to look after yourself so you can enjoy an amazing time away!
Frequently Asked Questions
Some may call it a holiday money card or a travel money card. A currency card is a cost-effective solution that allows you to spend money abroad with ease by opening an account in the local currency of your trip.
You simply 'top-up' the card with your currency of choice and start spending.
Some of the most commonly used are euro currency cards and U.S dollar currency cards. There are also multi-currency cards allowing you to hold several currencies at once.
Absolutely. There are several very important benefits that have made getting a travel money card a much more common choice for those going abroad. One of the main benefits of a currency card is the control and increased safety it offers you. You can only spend what you have on the card, so it's great for budgeting and making sure you don't go overdrawn.
As such, it's been a popular choice for parents with older teens and also travellers in general.
Key benefits include:
- Account can be frozen if the card is lost or stolen - so safer than using cash
- Free or reduced fees for using cards abroad when compared to some debit/credit cards
- Can use the card anywhere that excepts Visa or Mastercard (depending on which account you choose), so millions of outlets all over the world
- Pre-paid cards can be used to withdraw cash at the ATM
It will depend on your needs.
If you're on a single trip to France for a week’s holiday, then you can say that a euro currency card would be best suited for you. If you're travelling from Germany to the U.K, heading to the U.S then to Greece, you might benefit from a multi-currency card.
In terms of the rates and reviews, we have a marketplace so you can compare different currency cards and decide what's best for you. We look at the listings we have to make sure they are of the highest quality, aren't misleading and have a good record when dealing with customer support and help.
We want to make sure you can find the top providers all in one place if you need a card for holiday money.
Whichever business you open an account with, will have clear details of how to use your account.
Almost all of them will have either an app you can download, or a log in via a web browser where you can manage your account online. So that means if you’re anywhere in the world and have any issues with your card, all you need is an internet connection and you can sort it out.
Management services would include:
- Loading more money to the card
- Freezing account if card lost/stolen
- Customer service support for any questions or concerns
- Information on rates and fees (if applicable)
Many card providers will also have a customer service number which you can also use to deal with any query or concern.
The cheapest rates, highest security, good reviews and customer support are some of the areas we've looked at carefully for each listing. We want you to get the best product possible!
We've tried to highlight the most important factors you should consider when choosing your travel money card. We always advise comparing a few options before you settle on a final choice.
There are of course some things to know when choosing your currency card. Make sure you read the terms and conditions (which should be a must in anything you sign up for in general) which will let you know more about the requirements of using that service.
Things to be aware of:
- Is there a charge for applying for the currency card? Some providers will charge and it's not necessarily a bad thing, but it's good to know this beforehand
- Are there charges for: topping up your card, withdrawing cash from your card, or a monthly cost to have the account itself?
This is why it's good practice to look at multiple choices, read the material, and find answers to these questions.
Things to watch out for:
It's very easy to get caught out by a number of things when spending money abroad. Save a lot of hassle and know these things beforehand, so you can get on with having the time of your life!
NOT the fees on the listing results above, we mean the ATM itself may also charge you a fee to withdraw money. As you may get charged each time you withdraw money, it's best practice to take out larger amounts, less frequently. It's all about good planning, as you don't want the ATM eating away all your holiday funds!
When you go to withdraw money abroad, the ATM may ask if you want to 'convert the charge', or withdraw using an exchange rate on your home currency - CHOOSE ‘NO’. Always choose to be charged in the local currency or you will likely face high fees for taking cash out. Basically, however it’s phrased, you only want to deal in the local currency of the place you're in.
For example, if you’re in France, then only deal in EUR when withdrawing cash, don't use an exchange rate or conversion into your home currency (say GBP). If you're in the U.S, then only deal in USD, and so forth.
Some currency card providers may charge a small fee if you don't use your card for a certain period of time (say 12 months). This is known as an inactivity fee.
If you only plan on using your card on very rare occasions, or even for a one-off trip, this is something to keep in mind. Providers will make it clear on their websites whether there is an inactivity charge on the account.
Spending limits on card
There are caps on almost all accounts. It makes sense as a genuine security feature, should your card end up in the possession of someone else. But with most accounts, there will be limits things such as:
- Daily/monthly withdrawal amounts
- Daily withdrawals (e.g., no more than 5 times per day)
- Maximum purchase amounts per day (e.g., no more than £3,000 per day)
With upgraded accounts, you may have higher limits and lower fees when you spend, but remember you’ll likely have to pay for these accounts. So, it's good to know your spending habits and which type of account would best suit your needs.
Multi-currency cards are growing very rapidly in popularity due to the safety, budgeting and flexibility they offer.
They are safer than cash, cheaper than banks, and generally are very easy to maintain and control. Families, frequent travellers, or the rare voyager alike can all feel confident in making one of the wisest choices to get a travel money card.
Browse some of the top names in travel money pre-paid currency cards and get a cheaper, more secure alternative to using credit/debit cards or cash as your main means of spending.