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The cheapest price doesn't always offer the best level of cover
Be sure to secure the best value for your travel money too, says MoneySupermarket
Families jetting off for an Easter getaway should check the levels of cover offered by their travel insurance, and not just opt for the cheapest policy available, warns
Cost versus cover
According to analysis from MoneySupermarket, those who opt for the cheapest level of cover available could be underinsuring themselves considerably. For example, a family of four can cover themselves for a fortnight's holiday to
Spain for £10 from Cheaper Travel Insurance - this offers £500 worth of baggage cover. However, when you dig deeper into the policy details, you would have to pay the first £250 worth of any claim relating to baggage reducing the value of cover substantially.
For just a small premium, the same family can secure £1,500 of baggage cover, with a much lower excess fee of £100, from an insurer such as Virgin Money, for £12.20. That same policy would also provide £3,000 of cancellation cover, and medical expenses cover of £10,000,000 compared to just £500 and £5,000,000 respectively with the cheaper policy.
Bob Atkinson, travel expert atMoneySupermarket.com, said: "A good all round travel policy is something that should be purchased as soon as you have booked your getaway, rather than it being an afterthought and bought in a rush while preparing to go away on your holiday. This is to ensure you benefit from cancellation cover for the time leading up to your trip, cover which is often forgotten about by travellers. Ensure you have comprehensive levels of cover including End Supplier Failure for those who book their own trips as opposed to going on ATOL backed packages.
"The right policy will offer good levels of cover with low excess fees. Taking a small amount of time to read the small print will ensure that you get a great travel insurance deal to match your needs.