A COUPLE managed to save £695 on their holiday and bag extras thanks to a Martin Lewis tip.
In the latest MoneySavingExpert newsletter, Martin’s team explained how to save money on your travel insurance.
Whatever type of holiday you fancy, you’ll know it’s important to take out travel insurance in case anything goes wrong.
It helps you to claim if you need emergency medical treatment while you’re abroad.
Insurance also covers you if your luggage gets lost or belongings are stolen, or if you have to cancel a trip due to death, illness or bereavement.
However, Martin’s money saving team suggested that budding holidaymakers could take advantage of combined phone and travel insurance deals.
Currently, Nationwide is offering £160 a year to cover all your smartphones – of any age – and you could get quality travel and breakdown cover too.
They’re called packaged bank accounts, but customers following Martin’s tip will primarily use these with the main purpose of insurance.
If you get one of these bank accounts you don’t have to switch it to be your main account.
All you have to do is pay a monthly fee and loads of decent quality insurance is thrown in.
The longstanding Nationwide FlexPlus at £13 per month is now slightly undercut by Virgin Money Club M at £12.50 per month.
Both cover phones of any age for all the “family” living in the household – including the kids.
Nationwide caps this at a maximum of 18 years old, or 21 if in full-time education.
The deal also gives worldwide family travel insurance and UK & European breakdown cover.
It means for under £160 a year, you can nab all this insurance for roughly the cost of network cover for one phone.
One satisfied customer called Jane wrote to MSE after saving hundreds by using the handy tips .
Her message read: “I read your article about mobile phone insurance which gave info on Nationwide.
“I had been shopping around for annual travel insurance.
“By opening this account, my husband and I saved £695 on our travel cover, and have breakdown and phone cover also. Thank you.”
Travel insurance can be purchased from travel agents and holiday companies when you book, but there is no obligation to take this.
Banks, supermarkets and insurance companies also offer travel cover and a comparison website can help you find the best product for your needs.
You will need to provide the names and ages of all travellers, the destination and any medical conditions.
Results can then be filtered based on the level of cover and the excess you want to pay.
You can also sort policies by price to find cheap travel insurance but check what is covered, as the lowest-cost deals may not always provide the best protection for you.
It may also be worth using an insurance broker if you have more complex needs. You can find a regulated insurance broker on the British Brokers Association website.
Also check your current account as some banks may offer travel insurance automatically to their customers, although you should still check what is covered.
Remember, the best travel insurance will depend on your needs.
You need to make sure the best travel insurance company for you and your family provides enough level of cover for the value of your luggage, flights, accommodation plus any excursions.
Additionally, you may also need cover for medical conditions.
Check Trustpilot reviews and ratings based on features and service from independent organisations, such as consumer watchdog Which? and Defaqto.
The main costs associated with travel insurance are your premium and the excess.
You can reduce the premium by offering to pay more excess.
This will lower the upfront costs of your policy but means you will pay more if you need to make a claim.
You can also make your insurance cheaper by reducing the level of cover.
For example, a policy may give cover for up to £3,000 of luggage, but if yours is worth £2,000 there may be a better alternative product with lower premiums.
