Travel insurance premiums show a huge variance in a gap year

Future travellers planning their gap year in the following weeks need to search and compare thoroughly when choosing their travel insurance company.

Research by Defaqto, based on 111 policies on the market, found marked variation in the cover available in the gap year travel insurance market.

Travellers should bear in mind that 87% of policies surveyed apply excesses on a "per section” basis. This means vast the majority of gap year policies will apply a separate excess to each relevant section of the policy when a claim is made.

Because of this, future travellers have to consider all excesses when comparing policies as the same claim is often subject to multiple excesses.

Therefore, travellers need to pay special attention to the features of different policies and make sure that they understand how much it would cost them to make a claim with the different policies.

Travel insurance policies comparison

Another interesting finding was how much those excesses vary depending on the company.

For example, according to recent figures medical expenses and travel cancellation can vary from £35 to £150. Lost or stolen baggage from £35 to £100, while loss or theft of money and travel abandonment has an excess range that jumps from £0 to £100.

53% of policies would not cover the cost of an emergency return back to the UK. Almost half (47%) of policies provided no contribution towards the cost of someone having to stay in hospital.

Gap year travellers need to look and compare carefully the policies offered by different travel insurance companies before leaving the UK.