Are you paying too much for travel insurance? 

If you don’t comparison shop you could end up paying too much for the travel protection you need.

When travelling, having travel insurance is as important as having your passport. No matter how long or short the visit, travel insurance is a must-have. Unfortunately, too many people overpay for the travel insurance they need. See if you could save money with the following tips:

Buy one policy for the whole family

Buy one travel insurance policy that covers the whole family, rather than buying one policy per person. Family rates are often available and usually cheaper. As well, if you are travelling with children, keep an eye out for insurers who insure kids for free when a parent is insured along with them.

Buy an annual multi-trip policy

Multiple-trip policies mean that for one annual rate, you will have emergency medical coverage for every trip you take within the year after the policy is issued. A variety of trip lengths are available and if you travel often, an annual policy may be the way to go.

Don’t bundle your travel insurance with your vacation package

When you buy coverage at the same time you book your vacation package or flight,

you’re often not offered money-saving coverage or deductible options. Instead, you’ll be offered a one-size fits all policy.Through, you can opt to buy $2 million, $5 million or even $10 million in emergency medical coverage. You can also choose between policies with, and without, deductibles giving you greater influence over the price you pay for the coverage you need.

Know when an all-inclusive policy will save you money

If you need more than just emergency medical coverage, including items like trip cancellation & interruption coverage and loss of luggage, consider buying an all-inclusive policy that typically includes these options instead of buying a standalone policy for each. If you want all three, buying this one policy will usually save you money.

…and when it doesn’t

If, for example, you only want emergency medical coverage and trip cancellation (maybe you’re planning to pack everything into a carry-on so ‘loss of luggage’ isn’t necessary) then buying an all-inclusive means you will have bought and paid for

coverage you don’t actually want. Watch what you’re buying and compare it to the cost of the standalone policies to see if buying individually saves you money.

Shop around

Chances are your biggest opportunity to save lies in getting quotes from competing travel insurers. The vast range in rates will surprise you. At you can easily compare the quotes of competing companies, side-by-side, for emergency medical, multi-trip, all inclusive and top up travel insurance policies.