In today’s climate, insurance is somewhat a vital necessity when it comes to ensuring our prized possessions are always in good hands. Unfortunately it’s impossible to predict what’s around the corner; and that long awaited and much needed holiday, could soon turn in to disaster when unpredictable factors spiral out of our control.

The decision to not take out a travel insurance policy for an upcoming holiday is often something people do in order to reduce costs. Travel insurance however, really doesn’t cost the earth; and could very well be the answer to your prayers in unforeseen circumstances.

There are many options on the market for travel insurance, some high and some very low. Neither of these should ever be an option for your personal policy as both have many flaws.

Insurance is an absolute must nowadays, though offers of low cost travel insurance can often prove to not even be worth the paper it’s written on.

When comparing travel insurance quotes, low priced offers can often appear more attractive, but saving a few pounds on your policy now could leave you footing larger medical bills if an accident was to happen overseas.

If you are thinking about buying your insurance through your travel agent, you know that these can sometimes be up to four times higher than a policy you can purchase yourself online. Albeit knowing this fact; the lowest price you can find still is not the right choice to make either.

Travel insurance in effect is no different than any other insurance you may have; and as a general rule you should never purchase a policy which offers less than £2 million for medical expenses, and £1 million for personal liability. These are the main priorities of your policy, and should never be overlooked simply because you can save a few pounds when purchasing it.

Secondly, you should always check the level of excess on your policy; as you could end up paying over the odds before your insurer even begins to pay out. Many budget travel insurance companies have high excess costs, so always check the small print before you commit to buy.

There are many travel insurance providers who don’t automatically offer cover for cancellations costs, or medical expenses; as the only legal requirement for a travel policy is that it provides a form of cover for personal belongings. Additionally, always ensure you check the wording on policies that are offered complimentary with bank accounts; as you could end up stuck overseas without a number to call in the event of an emergency.

The cost of travel insurance can often vary significantly, with a lot of companies refusing to insure people over the age of 50; or those with existing medical disorders. Always, always check before you buy, as it could end up costing you thousands.

Some companies such as Insure & Away, do allow travellers to customise their quotes to suit their needs. Don’t jeopardise your dream trip by not buying the right policy for you. When it comes to travel insurance, less is definitely not more.