ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Money Supermarket Travel Insurance: Compare and Save

Updated on November 29, 2010

Going away on holiday can be the blissful culmination of months of careful planning, but if those plans suddenly go awry, Money Supermarket travel insurance can help to salvage one’s vacation. Based in the U.K., the company specializes in comparison shopping and finding several types of financial deals for its customers. While they began as a site for finding the best mortgage loans back in 1993, they have since grown to cover a wide variety of financial products, from credit cards to gas and electric suppliers. Obviously, many of their services will appeal mainly to an audience living in the United Kingdom, but they are also a good resource for travelers from all over the world.

The Money Supermarket website offers travel tips and information that can help a harried trip planner organize airfares, cruises, car hires, and yes, travel insurance, all in one place. Their blog features clever and convenient guides to make the most of any trip, from learning to ski on a budget to a round-up of Christmas markets around the world. They have a web page dedicated to the best deals currently available, and visitors can easily subscribe to their weekly email newsletter to avoid missing out on time sensitive bargains.

Do You Really Need Travel Insurance?

There are several types of policies one can purchase to cover different aspects of travel, and the Money Supermarket staff have compiled a comprehensive database of information to answer frequently asked questions concerning this insurance. Obviously, they have a vested interest in selling you one of these policies, so keeping that in mind while reading their material is a wise idea. Still, the information they provide will help determine if the sense of security holiday insurance provides is worth adding to the cost of the trip.

Usually designed to pay for medical expenses in the event of illness or injury while traveling, these policies can also cover money lost on otherwise nonrefundable travel costs, such as tickets and hotel bookings. As with any insurance, it is important to read the fine print to understand the scenarios that the policy covers and to know about any loopholes that will lead to a claim denial. While it is easy to purchase trip-specific insurance from a travel provider, those policies often cover fewer situations than a policy obtained from one’s insurance company. The main point to keep in mind when shopping for travel insurance is the myriad types of policies available and the different sorts of travelers to which they cater. In addition to illness or injury, some policies also cover such specific incidents as emergency evacuations and overseas funeral expenses. These are hardly the preparations most people want to have to consider when planning a vacation, but then again, the nature of insurance often leads to thinking about the unthinkable.

Are You Already Covered?

Many credit card companies will throw in free coverage for trips, particularly premium level or gold cards. These policies are a nice benefit, and may provide all the coverage one deems necessary, but it is probably a good idea to read it over carefully. Assuming this sort of insurance will take the place of more inclusive policies could lead to a devastating disappointment, should the need arise while away from home. Many of these free policies are actually called “travel accident insurance,” which covers only trip-related accidents that occur between destinations. This coverage is also some of the most restrictive in terms of what incidents are actually coverable. The only way to know for certain if free insurance is beneficial is to read that eight-point type very carefully.

Taking a Chance

Every Travel Situation Has Different Insurance Needs

As with any sort of financial planning, an individual’s specific circumstances will dictate how much and what kind of travel insurance to buy, or if it is necessary to obtain any at all. Many young, healthy people may assume the risk and forego the added expense. Certainly, thousands of people have traversed the globe throughout history without beefing up their coverage.  However, the cost of health care has exploded in recent years, perhaps to a level that could prohibit travel if one is concerned with how to pay for accidents or injuries while abroad. For U.K.-based travelers, the Money Supermarket offers a storehouse of information to help make this sort of decision. If it helps put a worried mind at ease, a comprehensive policy might be the most important item in globetrotter’s suitcase.

Do You Spring for Travel Insurance?

What's your comfort level?

See results


    0 of 8192 characters used
    Post Comment

    • Edwin Chan profile image

      Edwin Chan 7 years ago from New Zealand

      I'm a big fan of getting travel insurance. This hub is very thought provoking. I've traveled all around Asia and am off on a round the world trip in a few weeks. I personally would rather be safe than sorry. Medical bills can cost a small fortune in a foreign country if anything were to happen.

    • Deborah Donados profile image

      Deborah Donados 7 years ago from Portland

      I know what you mean, Tammy. I have been surprised to learn that there are all sorts of insurance for almost any venture or circumstance. While collecting policies may give us a feeling of security, I've heard from a lot of people who have had trouble making claims on the "regular" coverage everyone knows about. I wonder how difficult it is to collect on these more obscure policies should the need arise. Personally, I am working toward being what Dave Ramsey calls "self-insured," though I am a long way from being able to pay cash should an expensive or long-term emergency arise.

    • Tammy L profile image

      Tammy L 7 years ago from Jacksonville, Texas

      I voted "no" in your poll because I didn't even know travel insurance even existed until now. I probably won't buy any but I won't definitely say "never".

      Good advice for those looking for this type coverage.