Wise men say only fools rush into cheapest travel insurance possible
The main summer getaway is fast approaching for millions of Brits and as studies show we are willing to go into debt for that two weeks in the sun, travel tech specialist Aquarium Software says technology apps can save you money - not just sourcing cheaper cover, but when making a claim, too.
Brits can typically borrow thousands for a holiday, taking months on average to pay it back, yet skimp on the cover which is key to protecting such a big investment, not to mention their family’s health.
Consumers must consider cover first and compare policies based on that, rather than on upfront cost.
The ‘it won’t happen to me’ syndrome drives the lowest common denominator, but it doesn’t have to be something dramatic like falling ill for insurance to have value.
Baggage losses and holiday or flight cancellations are common and insurance can save financial ruin if you have spent every penny you don’t have on the trip of a lifetime.
Apps are driving the reality check in favour of the consumer, according to Aquarium Software.
“The right travel insurance can save a lot of heartache and money, said Aquarium Software Director, Mark Colonnese.
“Our tech can help save consumers money at the front end, via policy comparison and selection, but given repatriation and medical expenses, getting the nuts and bolts of a policy right matters more than necessarily the simple cost calculation.
Paradoxically, this remains the part most of us pay the least attention to when considering travel cover.
Technology is helping to address this and given the poor economic outlook and British reputation for lazy money management, these smart apps can’t come soon enough,” concluded Mark.