Experts at travel insurance provider Staysure have shared the factors that influence insurance costs and offered tips on how to save money when booking your travel insurance this summer. Travel insurance premiums can fluctuate based on several elements, including pre-existing medical conditions, age and chosen destination.

However, holidaymakers can reduce costs by avoiding travelling with expensive valuables. The travel gurus advised to always “leave expensive valuables such as laptops, watches and jewellery at home”. This is because “adding protection for valuable items, such as cameras or precious watches and jewellery, will push premiums higher”.

“If you need to insure expensive gadgets like cameras or valuables like watches and jewellery, your premium will be higher as there are pricier sums involved.

“Travelling without these items can help to lower the cost of your travel insurance policy and means you are at less risk of losing them.”

Premiums rise with age due to higher illness risk, particularly for those over 65. Pre-existing medical conditions are equally significant as they elevate the likelihood of requiring emergency medical assistance while overseas.

The experts said it is essential to always “declare all of your pre-existing medical conditions to ensure your policy is valid, should you need to make a claim”.

Trip duration and destination also influence insurance pricing, as longer trips increase the likelihood that travellers may require emergency healthcare.

Coverage proves more affordable for nations considered low risk, such as Spain, while high-risk locations, such as Sri Lanka, will mean higher premiums due to repatriation expenses.

The experts suggested considering a lower-risk destination to save money. “A change of country could save you hundreds. For example, a holiday to Paris will usually cost you less in insurance premiums than a trip to New York.

“It’s also important to check the country you are travelling to will be covered by your travel insurer. Some places in the world are considered too high risk.”