How to Choose Family Holiday Insurance

Reduce Holiday Costs and Save Money when Travelling Abroad

Mar 21, 2009

Looking to save money on family holiday insurance when travelling abroad? Buying the cheapest travel insurance can help to reduce holiday costs for those on a budget.

Identifying an inexpensive source of family holiday insurance can help reduce the cost of travelling abroad. It reduces holiday costs, leaving more money available for social activities. It is unlikely that a consumer can purchase the cheapest travel insurance from a travel agent as they have a captive audience and know they can sell consumers higher margin services.

Comprehensive Travel Insurance

Whilst all consumers want to save money on family holiday insurance, coverage is the primary objective. MoneySavingExpert.com recommends that those travelling abroad should have a minimum of: £2 million of medical cover, £1 million of personal liability cover and £1,500 of baggage cover. Consumers should also ensure that the cost of the holiday is fully covered in the event of cancellation or delay.

Use an Online Comparison Service to Choose Family Holiday Insurance

An online comparison service, such as moneysupermarket.com and confused.com, allows a consumer to save money on family holiday insurance. Trawling the market for the best deal provides the consumer with a more competitive price and helps minimise holiday costs for those travelling abroad on a budget.

Family Holiday Insurance for Those with Pre-Existing Medical Conditions

Consumers that are over-65 or have pre-existing medical conditions will find that family holiday insurance is more expensive due to the greater risk they present. Seniors travelling abroad may be able to get cheaper family holiday insurance from ageconcern.org.uk. Individuals with pre-existing medical conditions may find it hard to get travel insurance, but can save money buying holiday insurance from companies like saga.co.uk.

Single Trip Travel Insurance Vs Multi-Trip Travel Insurance

Travelling abroad regularly, particularly to the US, will cost more if single trip travel insurance is purchased. Individuals that travel regularly are able to save money through buying multi-trip travel insurance. It reduces the average cost of travelling abroad, just as bulk-buying does when at a cash-and-carry.

Due to the amount of business failures, some consumers choose to only purchase family holiday insurance if Scheduled Airline Failure Insurance (SAFI) is included. Whilst this will save money when an airline goes bankrupt, it is more likely to increase costs. The cost of travelling abroad should be paid with a credit card as it provides protection under section 75 of the Consumer Credit Act 1974.

Whilst it is desirable to save money on family holiday insurance, this should never be achieved at the cost of coverage. Remember that the cheapest travel insurance isn't necessarily the best. Use an online price comparison service, such as moneysupermarket.com or confused.com, to minimise holiday costs when travelling abroad.

Those that found this article useful may also be interested in taking out critical illness insurance or life insurance to protect their families. Taking out pet insurance can, in certain instances, help save families thousands of pounds in veterinary bills.

The copyright of the article How to Choose Family Holiday Insurance in Insurance is owned by Asa Ghaffar. Permission to republish How to Choose Family Holiday Insurance in print or online must be granted by the author in writing.