The Best Travel Insurance On A Budget
When you're buying travel insurance on a budget, first work out what your needs are.
When buying a car you think about what your needs are, right? Is it solely for city driving or do you want to cruise out to the Simpson Desert? How many will you be transporting? What's your budget? Who's the dealer, what's their price tag, do they have added extras that make it a better deal, what's their track record with customers or after sales?
The same is true with travel insurance. Where are you going and for how long? What activities? Special considerations such as pre-existing medical conditions or special circumstances at home that might mean you need to return home during your trip?
What's your travel budget? What are you taking - just your backpack, Lonely Planet Guide and change of undies or do you have a top of the range camera and a pocket sized laptop. Which company offers the sort of cover you need? What's the price range of their plans? What do the plans cover, and are they capped? Do claims carry an excess and can you purchase a waiver? What is the company's track record with customer service, claims, response in an emergency, contact availability?
Buying on a Budget Is Not Just About Price
When you're buying anything on a budget, you don't simply buy the cheapest because you want a product that will perform. When buying cheap travel insurance Australia consumer watchdog, Choice, advise:
- Buy travel insurance online if you can find a discounted policy that suits your needs - Comment: this is highly recommended as it can save a further 10% over face-to-face and up to 50-60% over travel agents.
- If booking and paying in advance for accommodation, fares and tours consider purchasing cover for cancellation, additional expenses and delays - Comment: take out trip cancellation cover as soon as you start paying for your trip.
- Consider family and health needs when travelling overseas including the possibility of family back home becoming ill requiring a quick return - Comment: Australian travel insurance for trip resumption covers this possible outcome.
Choice also advise travellers to be particularly careful when choosing backpacker insurance and cover to suit extreme sports.
In addition, exercise care when purchasing extremely low discount travel insurance, particularly for international travel. If you purchase travel insurance cheap as chips, it may lack the infrastructure to support you in time of emergency, and may have too many exclusions or hefty excesses on claims.
When purchasing budget travel insurance always remember - you pay peanuts, you get monkeys.
