Buyers' Guide - Travel Insurance

You've booked the holiday, got your suntan lotion…but don't forget your travel insurance. There are dozens of different policies on offer and choosing the right one can seem like a bit of a hassle. Let Moneywise help with our Buyers' Guide.

Buying travel insurance isn't the most exciting part of planning your holiday, but if things go wrong its money well spent.

Policies are designed to pay out if you have to cancel your trip, lose your money or your luggage is stolen.

But by far the most important part is the medical cover, which will pay for treatment if you're ill.

Check how much you're covered for and the excess you'll need to pay.

Also find out what you'll need to do if you claim for stolen or lost possessions. Most policies have very strict conditions.

If you plan to do any sports while away check they're covered too. Your insurer may view your hobby as high risk and charge extra to cover it.

You may also want ensure your policy covers claims related to terrorism.

Those that take several holidays a year may be better off buying an annual policy instead of single trip. Use comparison sites to compare costs and work out which is best - bear in mind travel agents rarely offer the best deals.

If you've had a serious illness or suffer ongoing medical problems, make sure you tell your insurer as many won't cover so-called pre-existing medical conditions.

And if you've had a serious illness like cancer, you may be better off talking to a specialist broker.

Finally, be aware that some insurers don't offer cover for the over 65s, so older travellers may have to shoparound.