Family Holiday Insurance – What Influences Your Cost?

Heading off on a holiday with the family? Hopefully you have purchased your family holiday insurance as a matter of priority. If you’re wondering just what influences the cost of your family holiday insurance, you might find the answers here.

Where you are travelling to and how

It should come as no great surprise to learn that some destinations in the world are likely to be considered far riskier than others. In fact, some destinations may be considered so risky as to mean that the provider may decline to offer you cover for them.

In addition, the nature of your travel might also play a part. For example, some types of winter sports holidays might be seen as bringing with them much higher risk of injury than a traditional seaside-type holiday by the Mediterranean during the summer months.If you are planning to go on a free-wheeling backpacker break around the Middle East for several months as opposed to a short-duration guided tour of the same areas, then you might again realistically expect to see a reflection of the perceived increased risks in the premium you pay.

The nature of your chosen policy provider

Some companies see the world very differently to others. What that means is that the price of cover can vary quite significantly from one company to another, even where everything else is more or less equal. The key message here is, of course, that shopping around for your cover only makes sense.

The risks you are seen to constitute yourself

It is a rather sad fact of life that the risks that come with us as individuals change depending upon things such as our age and overall background health situation.If you have certain forms of pre-existing medical conditions, it may have an effect on the amount you pay for your cover. In fact, depending upon the severity of your condition, some family holiday insurance providers may decline to offer you cover at all.

The cover your policy provides

This is a fairly significant issue and one that is worth thinking about. Travel policies are not identical to each other, and some offer what might be seen as being better benefits in some areas than others. It’s not always easy to sort out just what the policy is offering and how it compares to another, but it’s something that it might make sense to do. To some extent, there may be a tendency to get what you pay for and selecting based upon price alone might sometimes prove to be a risky strategy. Instead, look at what cover is offered and decide which of the ones you are considering appears to be most suitable for the type of holiday you are contemplating. If this sounds like something of a bureaucratic overhead, remember that your family holiday insurance might one day be all that stands between you and financial ruin. It’s a subject that it is worth taking seriously and investing a little time on before you make your purchasing decision.

Patrick Chong is the Managing Director of Insuremore. We provide low cost travel insurance and offer a range of policies including family holiday insurance, annual, multi-trip and single-trip insurance. For all your travel cover needs, Insuremore can help you in the quickest and most cost-efficient way.

Writer and Online Marketing Manager in London.