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Top Tips for Buying Travel Insurance

Worldwide economies continue to remain uncertain although people are once again willing to travel. In some countries such as the UK, according to some reports, the level of disposable income will not rise until 2015 as the rising cost of childcare remains a huge concern. This means that parents could be left with a childcare bill that equates to 40% of their disposable income, which will impact on their ability to live, work and travel as they wish.

While this news should not put you off booking a holiday, however, you will need to think carefully about the importance of travel insurance and how it can help to protect your investment. Consider the following points when purchasing coverage:

Be Honest when it comes to Disclosure

While it is perceived fact that the existence of a medical condition can drive up the cost of travel insurance, failure to disclose an illness that is subsequently uncovered can make it almost impossible to purchase a policy anywhere. It is therefore important that you adopt an honest approach and make a full disclosure to potential insurers, as this will enable you to get accurate quotes and compare the market in a detailed manner. Honesty is always the best policy, especially when dealing with well-prepared financial service providers!

Seek Out Specialist and Personalized Coverage

On a similar note, those of you with a serious pre-existing condition may also like to seek out specialized and customized coverage to suit your exact needs. One of the major trends in insurance recently has centered on the provision of personalized policies, and this can help travelers to minimize costs without compromising on the level of coverage that they receive while overseas. UK firms such as Able2Travel are able to help with this endeavor, by putting you in touch with the insurers that are best placed to meet your exact needs.

Look Beyond Price Comparison Sites

While price comparison sites are a key component of contemporary consumerism, they are not enough by themselves to secure the best possible deal. This is because a growing number of firms are removing their details from these resources, in a bid to distinguish themselves from the competition and encourage consumers to visit their independent website. This is extremely cunning, but it also means that you will need to invest more time into visiting multiple sites and comparing as many service providers as possible.

image credit: telegraph.co.uk

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