Our Pick Of The Best Travel Insurance Policies
Heading off for some winter sun? For peace of mind both in the lead-up and while you’re away, you’ll need a travel insurance policy.
Travel insurance pays out should anyone on the policy need to cancel their trip due to an emergency such as illness or bereavement, or if they fall ill or get injured abroad and need medical treatment. A comprehensive policy will also cover a range of other mishaps including loss or theft of baggage.
According to a recent Forbes Advisor study, 77% of Brits have purchased travel insurance in the past – suggesting that the merits of travel insurance are well recognised. But where might you find the best deals?
- Why you can trust Forbes Advisor's ratings
- Our pick of the best travel insurance companies 2024
- What methodology did we use?
- What is travel insurance?
- Why is travel insurance important?
- What are the best deals for travel insurance by destination?
- What does travel insurance cover?
- What types of travel insurance policy are there?
- What if I have a pre-existing medical condition?
- What levels of cover can I choose from?
- What optional extras does travel insurance offer?
Our pick of the best travel insurance companies 2024
We carried out some research with our panel of insurers (March 2024) to identify what we believe to be the top five travel policies for a family of four travelling to Spain for seven days. You can find more information on how we scored the policies in the Methodology section.
Cover For You
Premium
£43.82
Cancellation cover
£3,000
Excess
£50
Premium
£43.82
Cancellation cover
£3,000
Excess
£50
Cover For You has high levels of cover for a competitive premium. This policy offers £15 million medical and repatriation cover, up to £3,000 for cancellations and £2,000 for baggage. It also has a low excess at £50 per person per section on all claims.
Hospital benefit cover is generous at up to £2,000, legal expenses cover is up to £30,000 and personal liability cover is £1.5 million.
- Up to £3,000 cancellation cover
- Low excess on claims
- Higher premium than some competitors
Yourtravelcover.com Gold
Premium
£40.62
Cancellation cover
£3,000
Excess
£95
Premium
£40.62
Cancellation cover
£3,000
Excess
£95
This policy was the cheapest we found based on our search parameters (see our methodology below).
This family policy offers cover up to £3,000 per person for trip cancellation, plus £1,500 per person for baggage cover. Medical and repatriation cover is £10 million and the excess on claims is £95 (the cancellation and baggage excess is £75 per person). Excesses will be applied per person, per section of each claim.
The cover also offers £500 cover for hospital benefit, £15,000 legal expenses cover and up to £2 million for personal liability cover.
- Low premium for cover levels
- £3,000 cancellation cover
- Relatively low excess (£75 for cancellation and baggage claims)
- No sports or gadget cover (can be included at extra cost)
Coverwise Select Silver
Premium
£44.51
Cancellation cover
£2,000
Excess
£50
Premium
£44.51
Cancellation cover
£2,000
Excess
£50
This cover has a competitive price and offers £20 million medical and repatriation cover, £2,000 for cancellation and £1,750 for baggage. There is a low per person excess of £50 per section per claim.
Hospital benefit cover is up to £2,000 and legal expenses cover is £50,000. Personal liability cover is up to £2 million.
- Competitive price
- £2,000 hospital benefit cover
- low £50 excess
- £20 million medical cover
- Relatively higher premium
Cedar Tree Travel Insurance
Premium
£42.28
Cancellation cover
£2,000
Excess
£95
Premium
£42.28
Cancellation cover
£2,000
Excess
£95
This policy is competitively priced and includes £15 million medical and repatriation cover, £1,500 cover for baggage and £500 for a missed departure (on either leg of the journey). The £95 excess applies on all types of claim and is per person per section.
There is £200 cover for hospital benefit and £5,000 for legal expenses. Personal liability cover is £2 million.
- Low premium
- £15 million medical cover
- Higher excess than some competitors
- £200 hospital benefit cover (competitors offer more)
Explorer Travel Insurance
Premium
£49.78
Cancellation cover
£5,000
Excess
£75
Premium
£49.78
Cancellation cover
£5,000
Excess
£75
This is a great value policy offering £5,000 in cancellation cover, £2 million medical and repatriation cover, and £2,000 for baggage. The excess is reasonable at £75 per person per section for claims, although some policies have a lower excess. The policy premium is slightly more expensive than some competitors.
There is legal expenses cover of £25,000 and personal liability cover up to £2 million, but there is no hospital benefit included. Gadget cover is also included as standard.
- £5,000 cancellation cover
- £2,000 cover for baggage
- Gadget cover included
- Higher premium than some competitors
- No excess waiver
- No hospital benefit
What methodology did we use?
We used data from our quotation journey to review single trip travel insurance policies for a family of four (two adults, both aged in their 40s, and two teenagers) travelling to Spain for seven nights in June 2024.
We identified the least expensive policies that met these credentials. Where premium prices are similar, we’ve factored in coverage limits and excesses. On this basis, we awarded each a Forbes Advisor star rating out of five.
All policies include at least £2 million in medical and repatriation cover and £2,000 in cancellation cover as well as £1,500 in baggage and belongings cover. The excess listed applies to each person on the policy and to each accepted claim, unless otherwise stated.
We’ve assumed no members of the family have any pre-existing medical conditions.
What is travel insurance?
The purpose of travel insurance is to provide compensation in the event you encounter a major problem while on holiday – whether that’s abroad or in the UK.
For example, you fall ill or have an accident and require medical treatment, your luggage is lost or stolen, you are forced to cancel the trip entirely due to unforeseen circumstances such as illness or bereavement.
There are different kinds of travel cover depending on the type of of trip and the destination. Premium costs will vary according to factors such as your age and health.
Exclusions to a standard policy include some sports and activites or cover for pre-existing medical conditions. However, these can often be bolted onto cover, or accessed through an appropriate specialist policy.
Why is travel insurance important?
Travelling without insurance is a risk. Become unwell or have an accident abroad and there’s no guarantee you’ll get free medical or hospital care – even if you’re within the European Union and have a Global Health Insurance Card (GHIC).
And in some destinations such as the US, Mexico and the Carribean, medical bills can run into thousands, and even tens of thousands, of pounds.
Without travel insurance you’ll have to foot the bill – and costs are rising. The average claim amount for emergency medical treatment in 2022 was £1,750, according to the latest travel claim data published by Association of British Insurers in July 2023. It marks an increase of 26% on 2021 and is the highest figure recorded since the ABI began collecting data in 2004.
But according to Forbes Advisor survey, the most common reasons for travel insurance claims among Brits over the last five years have been trip cancellation and lost or stolen belongings, accounting for 35% and 31% of claims respectively.
A good comprehensive travel insurance will cover these mishaps too, and may even provide cover for airline failure or cancellation.
The average overall claim amount on a travel insurance policy in 2022 amounted to £973, according to the ABI. This is the trade body’s latest figure (published July 2023) and it is likely average claims would be much higher now.
Taking out travel cover at the time of booking will provide cover if the trip needs to be cancelled due to an unforeseen event such as illness, injury or a family bereavement. More on this in our FAQs.
What are the best deals for travel insurance by destination?
The price of a travel insurance policy is determined by a number of factors, a crucial one being the destination. Below we’ve listed the minimum a traveller is likely to pay for a travel insurance policy, and the average policy price, based on country of travel.
Source: Moneysupermarket.com Financial Group Limited
What does travel insurance cover?
What types of travel insurance policy are there?
When comparing travel insurance, there are many different policy types to consider:
- Single trip – providing cover for one single trip, for a specific destination over a fixed time.
- Annual multi-trip – designed for those planning to take more than two holidays a year to multiple destinations.
- Worldwide – allowing travel to destinations across the globe and can either include or exclude the USA, Canada and the Caribbean (some policies also include or exclude Mexico). Medical care in these areas is expensive, so it’s cheaper for travellers to exclude them if they don’t plan to visit.
- Family – this insurance offers blanket cover for family members and can work out cheaper than buying separate cover for each person.
- Group – suitable for travel with up to 12 friends or family members, providing they’re travelling from the same country.
- Cruise – designed to provide cover for the activities and risks associated with cruise holidays, such as cabin confinement and missed port departure.
- Winter sports – providing extra cover for high-risk winter sports such as skiing and snowboarding.
- Backpacker – designed to cover longer trips overseas, often to multiple countries.
- Over 65s – providing more affordable cover for those over the age of 65 who may be more likely to claim for medical treatment. Also known as ‘senior cover‘.
- Under 18s – offering specialist cover for minors when travelling without a parent or guardian. However, many policies already cover dependent children under 18 even when they are travelling without you.
- Business travel – specialist cover for those travelling for business purposes.
What if I have a pre-existing medical condition?
If a policyholder has, or has had, a medical condition, the traveller may need to buy their travel insurance from a specialist provider. The same applies if they are recovering from serious injury.
The pre-existing medical conditions in question include, among others, cancer, heart problems, respiratory ailments, Crohn’s disease and diabetes. They can also include more common complaints such as asthma and hayfever as well as Covid-19.
When completing a travel insurance quotation, travellers will be asked if they have a pre-existing condition. If they answer ‘No’ they’ll simply carry on, but if they answer ‘Yes’ we’ll ask them to provide more details.
Once this is done, they’ll be shown prices for specialist travel insurance policies that include cover for their condition. Our panel offers a good range of providers who can offer specialist medical cover.
It’s very important that travellers provide complete and accurate information when asked so we can make sure they get the protection they need.
If they have a pre-existing medical condition, they may be charged an additional premium. If the additional premium for their condition is considered high (more than £100 for an individual), we will tell them and suggest they try the MoneyHelper to see a list of specialist companies that provide travel insurance to those with pre-existing medical conditions. They can call them free on 0800 138 7777. Many of these companies are also on our panel.
What levels of cover can I choose from?
Depending on how comprehensive the policyholder wants their travel insurance to be, and how much they’re willing to pay, they’ll be able to choose from a range of policies (for example, Bronze, Silver, Gold and Platinum) offering varying degrees of cover.
Bronze packages typically offer the most basic level of cover and as a result, premiums are often the most affordable, although policyholders may have to pay a higher excess (the amount, perhaps £50 or £100, which will be deducted from any claims pay-out).
Silver, Gold and Platinum offer increasing amounts of cover and higher policy limits, with higher premiums as a result.
Gold and Platinum plans typically come at a higher price, so policyholders will need to weigh up which plan best suits their requirements.
What optional extras does travel insurance offer?
- Gadget cover – protecting gadgets such as a tablet, laptop or mobile phone against loss, theft or damage.
- Travel delay – offers an inconvenience benefit up to a pre-specified amount if the booked outward or return journey is delayed for a set period of time (typically 12 hours) after checking in.
- Scheduled airline failure – in the event the airline goes out of business
- End supplier failure – in the event the hotel, travel company or airline goes into administration.
- Legal expenses – covering legal fees for an incident that was not the policyholder’s fault.
- Cash – some policies will include cash as standard, but for other policies you’ll have to pay extra. Any cover will also usually be subject to maximum limits.
- Natural catastrophe and terrorism cover – for claims relating to a natural disaster such as volcano eruptions and earthquakes, and those relating to acts of terrorism.
- Sports and activities cover – cover for taking part in high-risk or winter sports, such as skiing and snowboarding.
- Golf – some policies enable you to add on cover for golf clubs and other valuable golf equipment plus non-refundable green fees.
- Passport cover – many travel policies will cover the cost of replacing lost or stolen passports as standard, while for others you may have to pay extra to add on this cover. The most comprehensive cover will cover the costs associated with changing travel plans or any extra nights needed in a hotel, for example, while you wait for a new passport.
- Hospital benefit – covers the cost of necessities such as food while the policyholder is in hospital.
- Weddings – specialist wedding travel insurance will cover you for costs associated with certain eventualities to do with getting married abroad, such as loss of the rings or damage to your wedding dress, for example, as well as cancellation and curtailment cover and medical emergencies.
Forbes Advisor adheres to strict editorial integrity standards. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved, or otherwise endorsed by our partners.
