Compare Our Best Travel Insurance Quotes (2024)

Our ratings take into account the card’s rewards, fees, rates along with the card’s category. All ratings are determined solely by our editorial team.

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Updated: Mar 07, 2024

We carried out some research with our panel of insurers (March 2024) to identify what we believe to be the top five travel policies for a family of four travelling to Spain for seven days. You can find more information on how we scored the policies in the Methodology section.

We used data from our quotation journey to review single trip travel insurance policies for a family of four (two adults, both aged in their 40s, and two teenagers) travelling to Spain for seven nights in June 2024.

We identified the least expensive policies that met these credentials. Where premium prices are similar, we’ve factored in coverage limits and excesses. On this basis, we awarded each a Forbes Advisor star rating out of five.

All policies include at least £2 million in medical and repatriation cover and £2,000 in cancellation cover as well as £1,500 in baggage and belongings cover. The excess listed applies to each person on the policy and to each accepted claim, unless otherwise stated.

We’ve assumed no members of the family have any pre-existing medical conditions.

The purpose of travel insurance is to provide compensation in the event you encounter a major problem while on holiday – whether that’s abroad or in the UK.

For example, you fall ill or have an accident and require medical treatment, your luggage is lost or stolen, you are forced to cancel the trip entirely due to unforeseen circ*mstances such as illness or bereavement.

There are different kinds of travel cover depending on the type of of trip and the destination. Premium costs will vary according to factors such as your age and health.

Exclusions to a standard policy include some sports and activites or cover for pre-existing medical conditions. However, these can often be bolted onto cover, or accessed through an appropriate specialist policy.

Travelling without insurance is a risk. Become unwell or have an accident abroad and there’s no guarantee you’ll get free medical or hospital care – even if you’re within the European Union and have a Global Health Insurance Card (GHIC).

And in some destinations such as the US, Mexico and the Carribean, medical bills can run into thousands, and even tens of thousands, of pounds.

Without travel insurance you’ll have to foot the bill – and costs are rising. The average claim amount for emergency medical treatment in 2022 was £1,750, according to the latest travel claim data published by Association of British Insurers in July 2023. It marks an increase of 26% on 2021 and is the highest figure recorded since the ABI began collecting data in 2004.

But according to Forbes Advisor survey, the most common reasons for travel insurance claims among Brits over the last five years have been trip cancellation and lost or stolen belongings, accounting for 35% and 31% of claims respectively.

A good comprehensive travel insurance will cover these mishaps too, and may even provide cover for airline failure or cancellation.

The average overall claim amount on a travel insurance policy in 2022 amounted to £973, according to the ABI. This is the trade body’s latest figure (published July 2023) and it is likely average claims would be much higher now.

Taking out travel cover at the time of booking will provide cover if the trip needs to be cancelled due to an unforeseen event such as illness, injury or a family bereavement. More on this in our FAQs.

The price of a travel insurance policy is determined by a number of factors, a crucial one being the destination. Below we’ve listed the minimum a traveller is likely to pay for a travel insurance policy, and the average policy price, based on country of travel.

Source: Moneysupermarket.com Financial Group Limited

When comparing travel insurance, there are many different policy types to consider:

• Single trip – providing cover for one single trip, for a specific destination over a fixed time.
• Annual multi-trip – designed for those planning to take more than two holidays a year to multiple destinations.
• Worldwide – allowing travel to destinations across the globe and can either include or exclude the USA, Canada and the Caribbean (some policies also include or exclude Mexico). Medical care in these areas is expensive, so it’s cheaper for travellers to exclude them if they don’t plan to visit.
• Family – this insurance offers blanket cover for family members and can work out cheaper than buying separate cover for each person.
• Group – suitable for travel with up to 12 friends or family members, providing they’re travelling from the same country.
• Cruise – designed to provide cover for the activities and risks associated with cruise holidays, such as cabin confinement and missed port departure.
• Winter sports – providing extra cover for high-risk winter sports such as skiing and snowboarding.
• Backpacker – designed to cover longer trips overseas, often to multiple countries.
• Over 65s – providing more affordable cover for those over the age of 65 who may be more likely to claim for medical treatment. Also known as ‘senior cover‘.
• Under 18s – offering specialist cover for minors when travelling without a parent or guardian. However, many policies already cover dependent children under 18 even when they are travelling without you.
• Business travel – specialist cover for those travelling for business purposes.

If a policyholder has, or has had, a medical condition, the traveller may need to buy their travel insurance from a specialist provider. The same applies if they are recovering from serious injury.

The pre-existing medical conditions in question include, among others, cancer, heart problems, respiratory ailments, Crohn’s disease and diabetes. They can also include more common complaints such as asthma and hayfever as well as Covid-19.

When completing a travel insurance quotation, travellers will be asked if they have a pre-existing condition. If they answer ‘No’ they’ll simply carry on, but if they answer ‘Yes’ we’ll ask them to provide more details.

Once this is done, they’ll be shown prices for specialist travel insurance policies that include cover for their condition. Our panel offers a good range of providers who can offer specialist medical cover.

It’s very important that travellers provide complete and accurate information when asked so we can make sure they get the protection they need.

If they have a pre-existing medical condition, they may be charged an additional premium. If the additional premium for their condition is considered high (more than £100 for an individual), we will tell them and suggest they try the MoneyHelper to see a list of specialist companies that provide travel insurance to those with pre-existing medical conditions. They can call them free on 0800 138 7777. Many of these companies are also on our panel.

Depending on how comprehensive the policyholder wants their travel insurance to be, and how much they’re willing to pay, they’ll be able to choose from a range of policies (for example, Bronze, Silver, Gold and Platinum) offering varying degrees of cover.

Bronze packages typically offer the most basic level of cover and as a result, premiums are often the most affordable, although policyholders may have to pay a higher excess (the amount, perhaps £50 or £100, which will be deducted from any claims pay-out).

Silver, Gold and Platinum offer increasing amounts of cover and higher policy limits, with higher premiums as a result.

Gold and Platinum plans typically come at a higher price, so policyholders will need to weigh up which plan best suits their requirements.

• Gadget cover – protecting gadgets such as a tablet, laptop or mobile phone against loss, theft or damage.
• Travel delay – offers an inconvenience benefit up to a pre-specified amount if the booked outward or return journey is delayed for a set period of time (typically 12 hours) after checking in.
• Scheduled airline failure – in the event the airline goes out of business
• End supplier failure – in the event the hotel, travel company or airline goes into administration.
• Legal expenses – covering legal fees for an incident that was not the policyholder’s fault.
• Cash – some policies will include cash as standard, but for other policies you’ll have to pay extra. Any cover will also usually be subject to maximum limits.
• Natural catastrophe and terrorism cover – for claims relating to a natural disaster such as volcano eruptions and earthquakes, and those relating to acts of terrorism.
• Sports and activities cover – cover for taking part in high-risk or winter sports, such as skiing and snowboarding.
• Golf – some policies enable you to add on cover for golf clubs and other valuable golf equipment plus non-refundable green fees.
• Passport cover – many travel policies will cover the cost of replacing lost or stolen passports as standard, while for others you may have to pay extra to add on this cover. The most comprehensive cover will cover the costs associated with changing travel plans or any extra nights needed in a hotel, for example, while you wait for a new passport.
• Hospital benefit – covers the cost of necessities such as food while the policyholder is in hospital.
• Weddings – specialist wedding travel insurance will cover you for costs associated with certain eventualities to do with getting married abroad, such as loss of the rings or damage to your wedding dress, for example, as well as cancellation and curtailment cover and medical emergencies.