How UK tourists may get the best bargain on travel insurance

 A policy's initial cost must be weighed against its coverage and any applicable excesses.

It’s worth checking carefully what is covered by your travel insurance policy. Illustration: Jamie Wignall/The Guardia

Obtain a GHIC Card

The UK Global Health Insurance Card (GHIC), which enables tourists to access public healthcare in European nations, is crucial if you get sick or hurt while travelling. When the UK exited the EU, it was introduced to take the role of the European Health Insurance Card (Ehic). If you still have one, you might not need to replace it right away because it will remain effective until its expiration date.

Graeme Trudgill, executive director of the British Insurance Brokers' Association, cautions against mistaking the GHIC for an insurance policy because it doesn't offer full coverage, even though it is there to assist in an emergency. It does not cover private facilities, repatriation, or offer the broad coverage for non-medical claims that a travel insurance policy does, and it only offers limited emergency medical care. To ensure complete travel coverage, you must still purchase travel insurance.

Do you already have coverage?

Check to see if any of your current financial products already offer coverage before investing in a travel insurance policy. Travel insurance is one of the extras offered with some packaged current accounts and is paid for on a monthly basis.

For instance, Nationwide's FlexPlus account, which costs £13 per month and includes international family travel insurance, has a baseline maximum age limit of 70. Anyone over that age must purchase an age upgrade, which costs £65 per year.

Check your financial products because travel insurance may be included in those. Photograph: cdwheatley/Getty Images/iStockphoto

Multi-trip insurance offers savings

"Annual multi-trip cover is great for those travelling to multiple destinations over a 12-month period, and can be more cost-effective than buying multiple individual policies," explains Ceri McMillan of GoCompare's travel insurance division.

For instance, a check on the website TravelSupermarket revealed that a typical single-trip policy with Insure & Escape would cost £37.25 for a family of four travelling to Spain for two weeks, including gadget coverage up to £750. The same company would charge £61.01 for a 12-month multi-trip policy that provided the same amount of coverage for each vacation.

There isn't a universal size.

The most frequent travel insurance claims, according to MoneySuperMarket, are for medical bills incurred overseas, trip cancellations, and lost, stolen, or damaged baggage.

The good news is that, according to MoneySuperMarket's Angela Dove, "Most policies cover cancellation, lost baggage and belongings, travel disruption, travel back to the UK if you have a medical emergency, and personal liability in cases where you have an accident and someone else is injured."

Nevertheless, there are major differences across insurers and policies, so it is crucial to study the fine print to determine what is and is not covered.

In particular, you should make sure you are insured if you intend to participate in sports or other activities, advises Trudgill. "Let your insurance company know about any dangerous sports you intend to participate in to make sure they are covered."

varying insurers offer varying guidelines; for instance, LV='s standard coverage covers pursuits like paddleboarding, archery, and trekking up to 2,500 metres.