8 easy ways to cut your travel insurance costs

Fact Checked

Travel insurance could save you thousands if something goes wrong when you are away, but do not pay over the odds for cover. Try these eight ways to keep the cost down.

Share this guide

For all your travel essentials in one place, visit our Travel Hub.

Travel insurance gives you peace of mind that you’ll have cover if something goes wrong in the run up to your holiday or while you’re away. Your policy usually kicks in the moment you buy it and should cover you for everything from cancelled flights and missing luggage to getting injured or sick while you’re away. Different policies offer different levels of protection, and many have wildly different limits, so it’s important to check the terms and conditions carefully. 

Travel insurance can be expensive, particularly if you don’t do your research. Here are our top eight tips for cutting costs whilst also making sure you’re fully protected.

1. Shop around for quotes

The best way to get a good deal is to get travel insurance quotes from as many providers as you can to find the cheapest option. Ideally, you should use a couple of different comparison sites and also speak to providers direct.

The cost can vary widely between insurers, so shopping around before you choose a policy can save you a serious amount of cash

Do not just opt for the cheapest option though, as it may not protect you fully if you need to make a claim. Find a policy that offers all the cover you need, at the best price.

Compare travel insurance

2. Avoid buying insurance from travel agents

If you buy your holiday from a travel agent or tour operator they may offer you a travel insurance policy to go with it.

Never accept their offer without shopping around first. Their policies are often more expensive, and they may not offer the level of cover you need. It pays to find your own standalone policy instead. You may find you can get the same or better cover at a fraction of the cost

3. Buy online

The best travel insurance deals can usually be found online.

You will get a wider selection of policies to choose from because there are some providers who only operate online.

Many insurers also offer discounts of 10% or 20% if you apply online because it keeps their costs down.

4. Save with an annual policy

Making the right choice between a single trip and an annual travel insurance policy can really cut the cost of your cover.

Single trip cover will protect you for just one holiday, while annual policies will cover your travel over 12 months and a variety of locations.

Which one is best for you depends on your plans for the year ahead. If you are going away several times in a year, you should be able to save by getting annual cover. If you are only travelling once or twice, single trip policies usually work out to be more affordable.

Here is how to work out whether you need single trip or annual travel insurance.

Should you get single trip or annual travel insurance?

5. Only get the cover you need

It is vital to check you are fully covered before you travel, or you could face bills of thousands of pounds if you fall ill or are injured.

You should also check that you are not paying extra for cover you will not need. Avoid extras like extreme or adventure sports cover if you are planning a relaxing beach holiday.

Many policies let you remove certain types of cover, like personal possessions and baggage protection. If you have home insurance that covers your belongings overseas, consider removing it from your travel cover to reduce the cost.

6. Avoid paying twice

You may already have travel insurance without knowing it.

Check that you do not already have cover as an added feature with a packaged current account or credit card.

If you do have travel insurance as a bank perk, make sure you check the policy carefully as they will usually only offer a basic level of cover. If you cannot upgrade the policy to suit your holiday, then you may have to pay for separate cover.

7. Get a family policy

If you are travelling with your partner and children, family travel insurance that covers everyone may be cheaper than separate policies.

It is worth getting quotes for individual policies and family cover, so you can do a comparison and check whether the family option works out cheaper.

Find out more about family cover, including who it can protect, here.

Compare travel insurance here

8. Remember your GHIC

You can get a free UK Global Health Insurance Card (GHIC) that provides some medical cover in most of Europe.

It gives you access to state-provided healthcare when you travel to European Union (EU) countries. Find out more, including how you can get a GHIC, in this guide.

This is not a replacement for travel insurance but can be used alongside your policy and your insurer may waive the excess for a medical claim if you use your card.

NHS website — How to apply for a UK Global Health Insurance Card (GHIC)

For all your travel essentials in one place, visit our Travel Hub.

If you have a pre-existing condition, you can still get a quote through Money.co.uk. These conditions could include cancer, stroke, serious heart, respiratory and terminal conditions.
Some insurers might not cover you if you already have a serious medical condition, or if you have a number of conditions. Others might only offer insurance at a much higher price. If you're unable to find suitable cover, the Money and Pension Service (MaPS) has also set up a directory of insurers willing to cover customers with pre-existing medical conditions.
You can contact the Money and Pensions Service (MaPS) or you can telephone 0800 138 7777.

Make sure you get the best possible cover when you go away by comparing travel insurance deals. You can find the cover you need at the right price whatever your travel plans.

About Matt Fernell

View Matt Fernell's full biography here or visit the money.co.uk press centre for our latest news.