How to Get Cheap Family Travel Insurance
Family trips are an ideal time to unwind and have fun with your loved ones. Whether it’s a backpack adventure, a trip to the Caribbean, or a ski vacation, family trips are simply the best — especially when you have your travel insurance in place. Most of the time, getting all your family insured can be quite expensive. The good news is, you can get travel insurance cheaper if you shop around and choose the right level of cover.
Here we highlight the best ways to keep family travel insurance costs low — and travel with peace of mind.
Check What Is Already Covered By Your Home Insurance Policy
Home policies may include insurance for personal possession while away from home. It’s a good idea to check what is already covered by your home insurance policy before you buy travel insurance. Opting out of having baggage cover can help you reduce the costs of the insurance quite significantly.
Another way to save money is by checking to see if your credit card or current account includes travel insurance. If it does, keep in mind that the level of cover may be reduced, so you may need to invest in a different insurance policy anyway.
Go Directly to the Source
Whatever you do, never get your family travel insurance from a tour operator, airline, or travel agents. They act as middlemen between you, the policyholder, and the insurance provider, so they will charge up to 50 per cent more for insuring your family. Go directly to the source to get your travel insurance plan in place. With 1Cover, there are no middlemen, so you can successfully keep the costs of insurance low and still get the coverage your family needs!
Consider an Annual or Multi-Trip Policy
If you’re planning to travel more than three times a year, then a multi-trip or annual policy may be more suitable for your family. It’s often cheaper to pay for one multi-trip policy rather than for several single-trip policies, especially when you travel with your whole family.
Keep in mind that a multi-trip or annual policy will limit the duration of each trip to 30-75 days, so it may not be that good for you if you plan an extended trip. If you exceed this limit, any further travel won’t be covered by your policy — should anything happen that might incur additional costs, your insurer won’t cover it!
See If Kids Are Included for Free
One way to save big bucks when shopping for family travel insurance is getting your kids insured for free. Many insurance policies cover dependents free of charge, however, they need to meet certain criteria to be eligible. With 1Cover, up to 5 kids under 21 years of age are covered at no additional cost on some policies. This way, you can save more money when you travel, and get your whole family insured for your upcoming trip.
Consider Setting Excess Higher
Excess is the amount of money you need to pay for any claim you make. If you make a claim for $1,000, and the excess if $200, your insurer will cover only $800, while you will pay the remaining $200. Setting the excess higher means reducing the cost of your insurance policy without compromising on the value you receive. Stay away from policies that charge “per benefit section” — for every claim you make, you may be required to pay two or more excesses.