August 18, 2011 01:00 ET

Supersize Your Holiday, Not Your Insurance Spend

ESSEX, UNITED KINGDOM--(Marketwire - Aug. 18, 2011) - According to reports in the media, WAG Coleen Rooney has recently jetted off for her tenth holiday of the year. With the economy's continued murky outlook and inflation continuing its rise, many Brits are pondering how to make the most of just one break and are counting the pennies when it comes to the cost of their annual holiday.

While buying flights and accommodation separately - or snagging a last-minute deal - may be able to save you plenty of cash, there are certain holiday essentials that always need to be accounted for. The most important of these, whether people believe it to be the case or not, is insurance. However, leading holiday insurance comparison site is today reassuring holidaymakers that insurance doesn't need to bump up the cost of your overall holiday spend. Providing you shop smart, you can find a great Cheap deal.

If you go on holiday without travel insurance and are unlucky enough to be involved in an accident, you could easily see your bank account emptied due to medical fees. Nonetheless, if you don't need to make any claims whatsoever on your insurance, shelling out on the initial cost of a policy can leave an unpleasant taste in your mouth that can linger long after the taste of holiday cocktails have been forgotten. After all, you could have spent the extra cash on another few drinks.

And just like the burger you order in a prospective resort's restaurant, or the level of luxury offered by your hotel, you can choose to supersize your insurance or select a more affordable policy. For years, many tourists have blindly taken out the highest level of holiday cover with the mistaken belief that it's the most sensible option. However, paying over the odds for insurance you won't necessarily use is both annoying and poor financial sense.

With this in mind, the message being issued by is to look beyond the price when it comes to choosing your travel insurance. With many more expensive policies providing the same cover as more affordable counterparts, or covering elements you simply don't need, sometimes choosing the cheap travel insurance option really is the best thing to do. Instead of selecting the most expensive cover available, it pays to know exactly what you are covered for as well as what will be expected, should you ever need to make a claim.

Although more expensive policies often cover individual items, you may find when making a claim for a lost or stolen item the initial excess is more than the price of your policy, making the overall cost of your supersize insurance doubly expensive. It's also worth checking if a policy covers you for the original cost of an item, or provides for the current cost of a replacement. It is possible that a policy with added extras may still leave you with enough cash for only a basic model once you have claimed.

Another essential element of travel insurance is the need to take notice of the rules regarding claims. Insurers often require you to report stolen goods within a certain number of hours or days after the event, so if you don't realise this and fail to report an incident until you get home, your policy won't pay out anything at all, never mind the cost of a modestly-sized burger!

Terry Exley, spokesman, explains: "While buying cheaper travel insurance probably won't mean you can afford to jet away quite as often as Coleen and her friends, it could definitely help you pay for a few more cocktails to sip on the beach when you get there. Holiday insurance is important and we'd certainly always advise people to have it in place before they travel. That said, you should always carefully consider what you do and don't need, so that you can supersize your fun rather than the spend on your insurance."

Notes for Editors is a leading price comparison site specialising in travel essentials, shopping deals and financial products.

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