Cheap travel insurance vs. good value cover

We’ve all done it. You need something, you need it sorted quickly. Someone tells you they’ve done the legwork and compared the options; you just choose the cheapest one, right?

Not always. Travel insurance is not a one-size-fits-all product. If you’re buying cover for your family holiday or your long-dreamed-of trans-USA drive, the cheapest option may not give you the protection you need. Travel insurance is not straightforward: the level of cover available varies wildly. Whether you’re taking a single trip or want cover for the entire year, cheap travel insurance may not necessarily be the right policy for you.

For example, the low-cost cover offered by some providers will only cover you for €1,000 if you have to cancel your trip, so probably not much use if travelling outside Europe. You may find yourself substantially of pocket if you have to cancel the dream trip you’ve been planning. By contrast, Chubb offers €3,000 of cancellation cover as standard.

And what if you’ve made it abroad after a great flight, only to discover your luggage has failed to make the trip with you? According to one UK travel aggregator, the value of the average person’s luggage when travelling on a week’s holiday is around £1,700. Fingers crossed you didn’t leave your iPad in your stowed luggage because a basic travel policy may only cover you for €500 in total with no single item worth over €100!

If you’re miles from home when things go wrong, do you want cover which doesn’t work as well as you’d hoped or cuts out when you need it the most? Sometimes paying that little bit extra is worth the added security and peace of mind for you and your family.

No one ever wants to find out just how good their travel insurance really is, but for the sake of a few extra euros, comprehensive cover from Chubb may be the right option to give you real value for money.

Source of luggage stat:

http://www.moneysupermarket.com/c/news/brits-pack-32-billion-worth-of-hoilday-luggage/0014562/