Save cash with a family travel insurance policy
Even if you are just heading off to a Spanish beach, travel insurance is a vital consideration. You hope you won't have to claim, but a family travel insurance policy will give you peace of mind and will usually entail a considerable saving on buying individual policies for each family member.
Check the small print
Finding the best deal for a family travel insurance policy, like so many financial issues, can be accomplished most effectively on one of the online price comparison sites. Don't just opt for the lowest figure though. There are several considerations that need to be factored in before you make a decision.
- In many cases, insurance for a couple will include free cover for children, so do the sums to see if this kind of cover offers better value than a specific family insurance policy.
- Before buying a policy, make a close comparison of fine print exceptions and excess charges. The majority of claims on travel insurance policies are made for lost and stolen property and baggage, so make sure your policy will cover you effectively for this kind of problem.
- Be cautious about buying family cover if one of the family members is over 65, which can have a noticeable effect on premiums. In this case it might be more economical to buy a separate individual policy.
- Don't over-cover yourself. If family holidays are restricted to Spain and Cornwall, you don't need to go for global cover or worry about tsunamis or hurricanes. It pays to customise a policy as tightly to your requirements as possible.
When applying for your family travel insurance policy, don't be tempted to leave out details of any pre-existing medical conditions that could impact on the price of the premiums. Failure to disclose this information in advance could invalidate any subsequent claim. If travelling to Europe, ensure you have a EHIC medical card for each member of the family.