By switching to another travel insurance policy, it is possible to save tens of euros. Because there is often overlap with other insurance policies, the policyholder does not have to take on any extra risks as a result. It does remain important to make a detailed comparison. This page describes the situation in the Netherlands.
Why switch to another travel insurance policy?
With single-trip travel insurance, switching is often not possible. Single-trip travel insurance is taken out for one holiday, and for the next holiday you simply choose another travel insurance policy.
Annual (continuous) travel insurance is usually taken out for a period of one year and is then renewed each time. Here it can be useful to switch to another travel insurance policy. There can of course be various reasons for this:
- Another travel insurance policy allows longer trips
- Another travel insurance policy pays out higher compensation
- Another travel insurance policy has fewer exclusions
- Another travel insurance policy has a wider area of cover
- The other travel insurance policy has better policy terms and conditions
- The excess is lower with another travel insurance policy
- You travel more or less than you used to
- Because your family has grown, another travel insurance policy is better value
- The costs of the other travel insurance policy are lower
- And so on
Big differences between travel insurance policies
Research shows that there are often big differences between travel insurance policies. Some travel insurance policies are up to six times more expensive. It should come as no surprise that these travel insurance policies also have more extensive cover. That is why comparing different travel insurance policies is always recommended. This does not always require switching to another travel insurer, because an insurer sometimes has several options available.
Compare after every change
Travel insurance overlaps with other insurance policies on several points. That is why it is recommended to check, every time one of the following insurance policies changes, whether your current travel insurance still fits with it:
- Supplementary health insurance for abroad
- Home contents insurance with cover outside the home
- Breakdown assistance insurance
- Legal expenses insurance
- Accident insurance
Read also: Saving money on travel insurance.
How does switching to another travel insurance policy work?
Switching to another travel insurance policy is not difficult. All you need to do is find a new travel insurance policy, take it out and then cancel the old travel insurance policy, so that there is no period without cover.
- Compare travel insurance policies
Always compare travel insurance policies first and look for a new travel insurance policy that suits your situation better. Request quotes, compare the policy terms and conditions and the prices, and choose a suitable travel insurance policy.
- Take out a new travel insurance policy
Take out the new travel insurance policy before cancelling the old one, so that there is no gap in cover. Think carefully about when the new annual travel insurance should start. There is no need to start paying months before your next trip. It is often better to set the start date just before your next trip. Do bear in mind that a waiting period sometimes applies. With some insurers, for example, a waiting period of three months applies to the legal expenses cover.
- Cancel the old travel insurance policy
After the first year, it is possible to cancel annual travel insurance at any time. A notice period of one month then applies. Notice by registered letter is sufficient. It is often possible to obtain a template letter from the new insurer.
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Frequently asked questions about switching to another travel insurance policy
Is switching always necessary?
No. Sometimes it is also possible to have the cover in your current policy adjusted. For example, additional cover can be added or certain cover can be removed. It is still recommended to compare travel insurance policies first with every change. Sometimes it is better to switch and sometimes it is better simply to have the policy adjusted. It can sometimes be better not to adjust the travel insurance but to take out single-trip travel insurance on a one-off basis, for example when your annual travel insurance has European cover but your next trip is to Pitcairn.
Is annual travel insurance actually better value?
This is also worth checking. If you make fewer trips, it can be better to stop the annual travel insurance completely and insure each trip individually. That is particularly the case if you go on holiday for less than 3 to 4 weeks a year. If, on the other hand, more than two long trips a year are planned, annual travel insurance is often the better option.
Can I take out different types of cover with different travel insurers?
No. In essence, every travel insurance policy is identical, and it can then be extended with a number of additional types of cover. The basic cover, however, is always included. So it is not possible to shop around with different insurers. Standard policies can often be tailored to your needs, though.
Until when can I take out a new travel insurance policy?
It is often possible to take out travel insurance until just before the trip. There are, however, a number of exceptions. In some cases, for example, a waiting period applies and the annual travel insurance will not provide cover straight away. Cancellation cover, too, can often only be taken out shortly after booking or sufficiently long before the trip. In this way, the insurer prevents a policyholder from wanting to be insured for an already known fact that would cause the cancellation.
Should I switch when my family situation changes?
In this case, it is at least recommended to compare travel insurance policies. Families with young children often travel in a different way than before. Backpacking in Thailand becomes a week of drinking cocktails by a Spanish swimming pool. Or the plane is replaced by a car full of children's things. It is often useful to have your annual travel insurance adjusted. As a result, another travel insurer can suddenly become better value.