Crack the travel insurance code – understanding the cheapest policy for you

In the first full summer since travel restrictions and expensive tests have been dropped holiday bookings are skyrocketing.

And, we’re not surprised as thousands of us all flock to sunny climes to reset after two years of hard slog.

But, while many of us remember the cocktails and beaches it can be tricky to remember what the best options are when it comes to travel insurance.

Especially now that the rules have changed due to Brexit and Covid – and nobody wants to be caught out when things go wrong.

Luckily, the team at Staysure, the UK’s No.1 and most trusted travel insurance provider, has put some helpful tips together so Brits can keep costs down while choosing the best cover for their needs.

Check them out below…

What affects the price of travel insurance?

While travel insurance isn’t an exciting part of planning your trip away, it is really important. Taking out a travel insurance policy as soon as you book your trip means you and your holiday are protected from the moment your cover starts to when you arrive back home. Insurance is there to protect you financially and practically should any unforeseen events happen before or during your trip.

A policy will generally cover you for things like your possessions, such as luggage and valuables, emergency medical treatment, and the unfortunate situation of having to cancel your trip.

The cost of insurance should form part of your total holiday budget when it comes to setting out your holiday finances – but what affects the price of your holiday insurance premium? We explain how travel insurance costs are calculated.

How much does travel insurance cost?

Travel insurance costs can vary wildly. Insurers consider a range of risks when calculating your travel insurance premium. Costs are based on how likely you are to make a claim before and during your trip.

The key factors tend to be your age and any pre-existing medical conditions you may have. Although, other things such as your holiday destination also come into play.

How is your holiday insurance premium calculated?

The factors considered when calculating your travel insurance premium include:


You’ll find that travel insurance premiums tend to increase with age. This is because the risk of illness, both diagnosed and undiagnosed, and making a claim is higher than when you were younger. So much so that some travel insurers will only offer policies up to a certain age.

Travel insurers usually place travellers into age bands, with under 65s often placed in a lower risk bracket. So it is possible that you may notice your travel insurance premium creeping up after your 65th birthday.

Staysure works hard to keep insurance premiums down and has no age limits on policies.

Your medical conditions

Among the questions you’ll need to answer when taking out your policy are the details of your pre-existing medical conditions. This can impact how much your insurance costs, as existing health factors can increase your chance of requiring emergency medical treatment when abroad.

There’s also a greater chance of having to cancel your trip if you’re not well enough to travel, or having to cut your holiday short. It is important to declare all of your pre-existing medical conditions to ensure your policy is valid, should you need to make a claim.

The length of your trip

As you may expect, the premium for a fortnight abroad will usually cost you more than a short weekend away to the same destination.

The longer you are away from home, there is more chance that you may need to claim on your insurance for emergency healthcare or misplaced possessions.

Holiday destination

There are a number of ways your destination can impact the cost of your policy. Insurance will be cheaper for countries seen as ‘low risk’ by insurers compared to countries that are a safety risk due to natural disaster or conflict.

European destinations are considered lower risk, so you’ll find it cheaper to holiday in Spain than Sri Lanka. Holidays to Europe are typically cheaper to insure as the distance travelled is shorter, which means the costs of repatriation, for example, would be lower. The price of healthcare at your destination also influences insurance premiums.

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When going to Europe, holidaymakers can access free healthcare with a European Health Insurance Card or Global Health Insurance Card (EHIC or GHIC). The card covers the cost of the state healthcare offered in that country, which means travellers are less likely to make a claim on their travel insurance if they become ill abroad.

Higher risk countries tend to be long-haul destinations. Healthcare in the US, Canada and the Caribbean is notoriously expensive. The cost of repatriation home from one of these countries is also high, hence the higher premium for a long haul holiday.

Details of cover

The finer details of what you’ll be doing on your trip and the things you’ll be taking along with you will also affect the cost of your travel insurance. If you need to include cover for expensive gadgets like cameras or valuable watches and jewellery, your premium will be higher.

Your holiday itinerary also impacts the cost of your travel insurance policy. With some insurers if your trip is jam-packed with sports and activities, it may cost you more than a quiet pool-based holiday, as your risk of accident or injury is greater.

Staysure’s policies include a vast range of activities in its cover as standard but it’s worth always checking what activities you’ll be covered for before travel.

Why is travel insurance to America more expensive?

You may notice when shopping around for travel insurance to the USA that it costs more than for holidays to Europe.

The reason for this is the US is deemed a higher risk destination because healthcare is much more expensive than the rest of the world.

The USA is the most expensive country to have a medical emergency in – the average cost of medical treatment comes in at £9,941!

CEO and Founder of Staysure Ryan Howsam said “Travel insurance is such a fundamental part of going on holiday, it’s really important to choose the right cover that is tailored for your needs.

"At Staysure, we want to make buying travel insurance as simple as possible, which is why we’ve put together this useful guide to help explain how it works, how to choose the right policy and most importantly, how to keep the cost down without compromising the cover!”

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