Date published: 1 November 2014
With just over 6 weeks to go, Christmas tends to be the busiest travel time of the year, and also the most expensive!
For the thousands of Kiwi's who will be travelling overseas and domestically to visit friends and family this holiday season - the good news according to travel insurance experts comparetravelinsurance.co.nz is that there is still plenty of time to get a good deal on your travel insurance.
Natalie Ball, Director, says:
“We know travel insurance is the boring part of planning your holiday, but it is vital to have the right cover before you take off for the silly season. Rather than just buying the cheapest – travellers should pick a policy that has a good level of cover at a price that they can afford.
“The cost of travel insurance and cover levels varies between providers. Using a comparison website is a quick and easy way to save yourself some cash to splash on the fun stuff.”
There are plenty of ways you can save on your travel insurance without compromising on cover.
Comparetravelinsurance.co.nz has some top tips to ensure you have festive and frugal Christmas!
- Buy travel insurance direct
To get the best deal – buy direct. If you book travel insurance with an airline or travel agent you are likely to pay up to twice as much for the convenience, compared to purchasing directly with a travel insurer.
- Look for holiday discounts
Many travel insurers offer 10% off (or more) around Xmas time to encourage sales, so keep your eyes out for some hot-off-the-press deals to grab yourself a bargain. With Christmas just a few weeks away, now is a great time to make the most of all the discounts you can find.
- Compare policies
Like any type of insurance you should always shop around to see what deal you can get rather than buying the first policy you see. Comparison websites are a convenient way to compare benefits and prices – saving yourself both time and money!
- Consider how often you go on holiday
If you are a frequent traveller you should consider an annual multi-trip policy to ensure you are covered all year round. You can travel as many times as you like within a 12 month period rather than buying a single trip policy each time you go away. The only catch is that each trip will be limited to a maximum number of days ranging from 15 to 90 days depending upon the policy purchased.
- Where are you going?
Different insurers have different pricing levels for the same countries. For example some may list Japan under Asia (Insure and Go), and some may list it under Worldwide. Pick an insurer which classes your destination in a cheaper region to save yourself a few bucks.
- Length of trip
Some insurer’s provide quotes based on the destination that you spend the most amount of time in; others base quotes on the destination that is the farthest away. If you’re travelling to lots of places and spending the least amount of time in a faraway region, you can save by finding an insurer that favours the ‘time spent’ option.
- Level of cover
There are many cover level options available for you to buy. A Basic policy (commonly referred to as medical only), Standard (or Essentials) and Comprehensive (or Premium). You can save by working out what cover you need for your trip. For example, a high level of medical cover is vital no matter where you are travelling and is provided in most Basic policies. So if that is all you need cover for, go for Basics. If you have outlaid money on prepaid flights & accommodation, or are travelling with expensive items, you should opt for a more comprehensive policy that provides cover for cancellation and personal belongings. In the scheme of things, travel insurance is a small price to pay for the thousands of dollars you could lose if faced with an unexpected event.
- Group policies
If you’re travelling in a group (doesn’t matter if you’re friends, family or business colleagues) you can often save by purchasing a group policy, rather than lots of individual ones.
- Loyalty rewards
Check if you can get a discount from the insurance company you have used before – it doesn’t just have to be travel insurance – it could be the insurer you use for your car or home insurance.
- Increase your excess
You can pay less on your insurance premiums upfront by choosing to increase the excess. This is the amount that you may need to pay in the event you make a claim.