Friday 26 December 2014

Make me richer: savings to be had on travel insurance

Travel insurance

Sarah Stack

Published 25/05/2014 | 02:30

Soaking up the sun

So you managed to get the family to the airport on time, you all made the flight – and what's more, you survived it. The last thing you need is for something to happen to you or your little ones when you're soaking up the sun, but better to be safe than sorry. The benefit of annual travel insurance is that you don't have to look for a fresh policy every time you think about going away, even for a mini-break. We priced cover for a family (two adults, two kids) in Europe.

Best: €49.94 Mulititrip.com

Avoid: €100 VHI

Save: €50.06

www.multitrip.com

HOME INSURANCE

You also hope nothing happens to your home when you're off in the sun. But in case the worst happens, it's best to make sure your insurance policy is up to date before going. Our elderly couple, both aged 67, live in a property in Finglas, Dublin 11, worth €220,000. They have no previous claims. It has a standard alarm, and the new policy includes buildings cover of €175,000, 20 per cent contents cover and a €300 excess.

Best: €201 Chrome Insurance

Avoid: €294.87 Zurich

Save: €93.87 a year

www.chromeinsurance.ie

CAR INSURANCE

Fully comprehensive car insurance can cost a lot, especially for the younger motorist, but for our 51-year-old driver her good behaviour on the road has paid off. The teacher from Co Cork has a full, clean driving licence, with no points or claims, and her policy is bonus protected. She drives a 2012 1.4 TSI VW Beetle worth €18,000 and her excess is €300.

Best: €280 Aviva

Avoid: €441.72 FBD

Save: €161.72

www.aviva.ie

GADGET INSURANCE

So you've got yourself a new iPhone 5. Anyone who has bought a phone and got entwined in a new plan knows they'll also probably be talked into getting cover on the spot. But it pays, and saves, to shop around. Gadget insurance covers most devices against damage, loss and theft – just as well, given that more than 12,000 mobile phones were reported stolen in 2012.

Best: €6.79 Gadgetinsurance.ie

Avoid: €12.99 MobileCover.ie

Save: €6.20

www.gadgetinsurance.ie

LIFE INSURANCE

When you find that special someone and start planning your future together, consider the bad as well as the good. Dual life cover is life insurance that covers two people. In the event of one person dying during a fixed term (in this case 25 years) then the other can claim the €225,000 owed. He or she would also remain on the cover so there is a potential for a second payout. If both people die within the 25-year term, then a total of €450,000 would be paid out. Our couple are both aged 40 and are non-smokers.

Best: €38.12 Aviva (via Low.ie)

Avoid: €55.40 New Ireland

Save: almost €17.30 a month/€5,184 over policy

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