Travel Insurance - What do you actually get for your money?

As the typical summer holiday's approach faster than Superman, it's no wonder that the travel agents are full to bursting with special offers. Although compared to choosing where to go, getting travel insurance is something that most people would rather do without - me included.

This explains why so many holiday makers continue to buy overpriced, under covered travel insurance from high street travel agencies - or worse still, go on holiday with no insurance what-so-ever.

We all like to think that nothing is going to happen, but with hundreds of thousands of people each year requiring medical attention, hospitalisation, replacement luggage, legal representation and many other things I could mention, not having travel insurance is likely to turn a misfortune into a financial disaster.

So, where do you buy it from? What do you look for? With too many policies to list available, here are the top ten tips for choosing what's right for you.

1. Go to the post office! Many will hold form E111, which are available free. The E111 form entitles you to the same medical treatment as nationals when visiting any country in the European Union. This still may include high medical bills though so beware.

2. Do you travel often? It may be worth your while to get annual cover if you do. A simple formula is any trips over two per year and annual cover will work out beneficial. It will also cover you for overseas business trips which will save you time and headaches trying to arrange cover before you leave.

3. Not all policies are equal! Do you intend on participating in sports or activities while you are on your holiday? If so not all policies will cover you for injury when you most need cover. Ask your insurer directly if you are covered for the activity you have in mind, after all there is no point in paying for insurance that doesn't cover you is there! Many insurers will include cover at a small or no additional cost.

4. More bad news for adventure holiday makers. Motorised sports, including jet-skiing are not covered on many of the travel insurance policies "Public Liability" section. Hurt somebody or damage property accidentally and you may not be covered. That means you'll be paying out of your on pocket.

5. Don't be fooled with free travel insurance. In many circumstances you are actually paying for a more expensive holiday in exchange.

6. Are you over 65? As ridiculous as it sounds, many policy underwriters will charge extra for people it considers "higher risk", and believe it or not being over 65 falls into this category. Shop around if this is the case as more policies are now bridging the age gap and covering the over 65's like the human beings they are.

7. You may already have "all risks" cover for your belongings under your home contents insurance. If so you already have baggage cover for your holiday! Many policies will give a discount for excluding this cover.

8. This is one that is tricky. If like me you have an existing medical condition (epilepsy) and you don't declare ALL pre-existing conditions you could not only be unable to claim for those conditions BUT also have any and all claims invalidated. Leaving you with no medical insurance.

9. God bless credit cards? Don't be fooled! Quite often now bank accounts and credit cards offer free travel insurance, or do they? Usually the actually offer free travel accident insurance, which as the name suggests will only cover you for an accident. If they actually do offer free travel insurance, check around to see if they're overcharging on the account or card, somebody is paying for the insurance and I bet it isn't the bank!

10. Finally, don't be fooled into thinking that price is an issue. More expensive doesn't mean better. High street travel insurance, as sold by travel agents, can be unto three times the cost of the best value insurers. For a week in Europe you could be paying around £10; for annual insurance just £40. These figures are according to Which? Magazines best buy policies.

Shop around and I bet you can beat the high street prices, which means more spending money for your holiday. Travel safely or at least well insured.