We all want to get the most for our money, sometimes we are willing to pay a bit more for quality but other times with ephemeral things such as insurance we just want the cheapest deal we can get.
Whilst there is not a problem with getting cheap single trip travel insurance you must be aware that cutting cornets on cover can be a false economy. There good value policies to be had and you can get very good deals by using one of the online travel insurance comparison sites. You should however be aware of some of the corners the insurers cut to be able to offer you such low price holiday cover.
There are a couple of areas a policy will cover that many people do not realise what they are actually covered for. A grey area with most insurers is the cover provided with the loss or theft of possessions whilst abroad.
You are usually covered for items that are stolen or lost but there are usually some conditions attached to this, namely what they call unattended items. If an item goes missing, presumed stolen whilst you have left it unattended then the insurance company will more than likely not pay up.
It could be that you put an item down for a few seconds and whilst you are not keeping an eye on it someone swipes it. Insurers will often only pay up if it is obvious theft that you have no control over such as stolen luggage at the airport or a mugging or a bag snatch whilst out.
Cash is also a problem for travel insurers and so most in all but writing do not cover the loss or theft of cash. They may say they do on the policy but if you read the small print you will find a different story. Firstly they will only cover a relatively small amount, usually a few hundred pounds. They will also lay a high level of excess on cash, sometime up to 75 percent of the cash value. This could mean if you have 200 pounds lost or stolen and you make a claim you will only get 50 pounds back.
