Pick The Right Travel Insurance Policy

Szu Ping Chan takes a look at travel insurance and the factors insurers take into account when calculating your premiums.

Winter is truly upon us, and with its arrival many of us will be looking to go on holiday to beat those winter blues. But for anyone jetting off this winter, it's also important to ensure you have the right travel insurance to cover you should things go wrong.

According to Bradford and Bingley, December is a costly month when it comes to insurance claims. Treatment for a broken leg whilst skiing in France, for example, can cost anywhere from 750 to 5,000.

So, if you decide to go away, it's always advisable to take out a good travel insurance policy before you set off, as you could be left with a hefty bill should you go on holiday uninsured.

If you don't choose the right policy, however, you could end up paying more in premiums than you need to. Different insurers take different factors into account when calculating a quote and this can dramatically affect the price of your policy.

Age

When it comes to travel insurance, the 18 to 54 year-olds among us should generally find no problems in obtaining a quote, with most policies offering comprehensive cover at competitive prices.

However, it gets a little more complicated if you fall outside this age bracket.

Thankfully, it's good news for children under 18, as many family or single parent policies will cover children at no extra cost. Some insurers even cover your kids up to the age of 23 if they're travelling under a family policy -- provided they are still in full-time education. But be aware that non-dependents are generally not covered.

If you're over 65, it's a less rosy picture, as many insurers will hike up your premiums or simply refuse to cover you at all.

But there are a small number of insurers that do offer cover for over 65s at competitive prices. Our travel insurance centre offers both annual and single trip cover for individuals up to 74 years. For older travellers, both Marks and Spencer and Direct Line have no upper age limits for their single trip insurance policies, and Churchill will insure anyone up to 99 years.

Pre-Existing Medical Conditions

Most insurance companies are not willing to provide cover for pre-existing medical conditions. So if you do have a medical condition, and you want to make sure you're covered, it pays to shop around for a quote.

For example, Bradford and Bingley travel insurance policies will cover you for some pre-existing conditions, with annual policies available for those up to age 79 and single trip cover for those up to 85. With these policies you can either pay an extra premium and cover your condition, or exclude it from your premium altogether.

Similarly, over-50s specialist Saga will take you through a health screening process, asking a series of specific questions about your symptoms and personal circumstances. They will then use this information to factor any necessary extra cover into your premiums.

Either way, if you have a medical condition you want covered, it's always best to speak to the insurer to clarify all the terms of your contract. Remember, an insurer can turn down your claim if it comes light later that you failed to declare a relevant pre-existing medical condition before you travelled.

So be honest, or you risk not being covered at all.

Location, Location, Location

When it comes to travel insurance premiums, location is everything. And with winter in full flow, many of you will be heading off to the slopes to enjoy the snow.

Lots of annual insurance policies now offer winter sports as an optional extra. However, again, it's advisable to read the small print, as annual policies often cover a shorter holiday period for winter sports trips than you would normally be covered for under a single policy.

In addition, you should check if you're covered for any eventuality, such as avalanche and piste closure, and for any activity, such as off-piste skiing and snowboarding -- especially if you're thinking of venturing to the more adventurous slopes. You may have to pay extra to ensure you are fully protected.

Enjoy your holidays - and stay safe!

To compare competitive travel insurance quotes online, visit our travel insurance centre.