Hey fellow travelers! As much as we all love the thrill of exploring new terrains and immersing ourselves in different cultures, let’s face it: Travel insurance can be a real wallet-drainer. But here’s the good news – it doesn’t always have to be that way. Today, we’re going to chat about some of my tried-and-true tips that can help you save money on travel insurance while still ensuring you’re well covered on your adventures. They’re all based on my own experiences (and yep, sometimes mistakes), so it’s like you’re getting advice straight from a buddy.
Research is Your Best Friend
I think we’ve all heard it a million times: “Always do your homework!” Well, when it comes to travel insurance, this piece of parental wisdom rings truer than ever. Take it from me. Last year, when I was off to Spain (pre-COVID times, of course), I almost opted for the first insurance plan I came across. But after some digging around, I found a virtually identical plan that was 30% cheaper! So, make sure you spend a good chunk of time checking out different plans. Trust me, your wallet will thank you.
Trying Different Comparison Sites
There are a ton of comparison sites like Squaremouth and InsureMyTrip that can help you find the best-priced plan for your needs. Each of them compares various insurers and their offerings. Don’t just stick to one comparison site, take time to look at a couple, and you might just find a more competitive rate.
Consider Annual Multi-Trip plans
If you’re someone who gets bitten by the travel bug frequently just like me, then an annual multi-trip plan could be your best bet. The cost upfront might be higher, but it covers all your trips within a year and the overall cost comes out to be much lesser than taking out a policy each time you travel. It pays to think long-term!
Don’t Shy Away From Excess
Opting for a higher excess can also reduce your premium. The excess is what you agree to pay towards a claim, and an insurer might reduce your premium if you agree to pay more in the event of a claim. But remember, don’t agree to an excess you can’t afford!
Conclusion
In the end, folks, saving money on travel insurance really comes down to research, recognizing your travel habits, and taking smarter risks. These tips have served me well over my many globetrotting adventures and I hope they help you too! Here’s to safe travels, my friends!