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Benefits of a Zero Excess Travel Insurance Policy

When it comes to purchasing travel insurance, it can be a minefield to get the right cover for both you and your trip; activity packs, excess levels and medical screenings can be complete gobbledegook for those that are not 100% familiar with insurance terms or in fact, what type of cover they need.

At Alpha, we believe travel insurance should be completely clear and easy to understand. In this blog we are going to talk about excess levels, in particular what they are and how they can affect your travel insurance policy as a whole. Hopefully this will make things easier when it comes to choosing the right policy for you.

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You may have already come across the term 'excess', perhaps on your car or home insurance policy. But what does it mean for travel and holiday insurance? In a nutshell, the excess is simply just a fancy word for the amount of money you are willing to contribute in the event of a claim. This excess level will apply to various aspects of your travel insurance.

For example, if you needed to cancel your holiday and you had cancellation cover up to the value of £1,500 with an excess of £100, the insurer would cover the cost of your holiday up to £1,500 minus your £100 contribution in the event that your claim was successful.

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Excess levels are simply your contribution to your claim. They come in various different amounts, but usually the higher excess you choose have on your insurance, the more expensive it is to purchase. Some insurers offer travel insurance that comes with a 'zero' or 'nil' excess, which means that in the event of a claim your contribution is £0 - that's right, nothing. Although this would be more expensive to purchase than a policy with a £100 excess, it is usually not that much more in terms of monetary value. Sometimes it can be as little as £5 extra to turn that £100 excess policy in to one with a nil excess and, well, you do the math! You are initially spending that £5 extra but saving yourself £95 in the event of a claim.

Zero or nil excess policies are especially beneficial if you are planning to go abroad more than once throughout the year. You can purchase a Multi Trip policy with a nil excess and rest assured that no matter how many times you travel during the course of the year, you are saving even more money in the long run!

In summary:

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