I have been comparing travel insurance for two people under 60 for four days in europe. I have checked the excess details and there is no considerable difference between the different insurers. The policies I viewed are almost identicle and where I have seen differences, they are negligible.
So why have I seen policies with premiums as high as £30 and some low as £6-£7 (and the insurance is covered by big insurers for the low ones I found too). I looked at the small print and again from what I could make of it, there was no considerable difference.
What's the difference then? What am I missing? and if it is as black and white as I can see, then is it worth me just buying the insurance at the cost of £7?
As someone who's a qualified underwriter and once actually wrote the small print ..................
Travel insurance as sold by travel agents is one huge scam.
Once one sets aside the stuff sold by travel agents, the difference tends to hinge on three things:
1. the method of selling: companies geared up to selling on the internet have very low overheads compared to others
2. the strictness of underwriting i.e. how they treat "substandard lives." Some policies are only offered at standard rates to people who in effect have never had a day's illness in their lives. If you've ever been near a hospital for anything or if your parents died before they were 80 you aren't covered, even if they've taken your premium. It's all there in the small print, if you could understand it.
3. the claims policy of the company concerned. Some companies keep the premiums low by contesting every last penny of every claim and in effect paying out next to nothing. Others charge more but pay out more readily.
Read the small print VERY carefully.
For what it's worth -- and it's decades since I worked in insurance and there's nothing in it for me! -- I've used
www.simpletravelinsurance.co.uk
with considerable satisfaction. It's an example of the sort of company that keeps the price down by using the internet via a well-designed website.
No one company is best for everyone, though, so do your homework thoroughly.
If you absolutely must use a travel agent's insurance, then Trailfinders are as good as any of the travel agents' insurance offerings.
www.trailfinders.com
Nothing at all wrong with it, but there's cheaper out there on the web that's just as good.
Is one for a single trip and the other for a whole year? Or one just European and the other worldwide cover? Or perhaps one covers you for damage/loss? Did you give exactly the same answers to the medical questions in both cases as they may have underwritten you differently?
If none of these apply, you will probably be better off with the cheaper one. It is advisable if you are travelling in Europe to get the NHS cover as the person above suggests. You can apply for it online. It's a really simple form and we got our little card jobbies three days later. If you check on the Dept of Health website, it explains on there that there are certain instances where the medical insurance will not cover you if you do not have the E111 equivalent card completed.
the premium can vary based on
1. the duration of stay ; you may be buying a one-year or longer duration cover for one,
2. based on their biodata one person may have a higher risk rating thean the other in terms of health, age, claims experience etc.,
3. one may have a higher limit of indemnity
why u want trav insurance...
get an ehic card
just use an E1 11 form - its free
whatever treatment you have in a European hospital, the NHS will cover the cost.
might have to check if it doesn't cover certain things.
The differences’ might be the same as Persil and Daz. they are made in the same factory, by the same people, but one is more expensive than the other - why? you can cover two markets at the same time.
The more expensive will sell less but have higher percentage profits, the others the opposite - general market stuff i presume.
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