There are a lot of ways to save on Lloyds TSB travel insurance policy. There are traditional methods for saving as well as special ones provided exclusively by Lloyds to customers that purchase an AXA travel policy they offer. Use all of the following tips to secure the best deal at the most affordable price.

1) Buy smaller amounts of coverage for less valuable items.

This is perhaps the most effective way to save on Lloyds TSB travel insurance. Just calculate the value of each item you have and get relevant coverage for it. If you have inexpensive plane tickets and plan to stay in a hostel, you can readily reduce your cancellation coverage substantially and still get compensation in case of an adversely affected planned trip. The reality is that there is no point in paying tens of pounds for insuring an item that costs less than the price of the cover.

2) Drop baggage coverage.

You have the option of dropping baggage coverage from your AXA travel policy offered by Lloyds TSB. Generally, you can reduce it as much as you like as well. This is a great way to save on insurance, but this does not mean that you should expose your assets and your travel to risks.

That is why it is recommended to drop this cover if you are not carrying valuable items. You can also choose to drop baggage coverage, if you already have your personal belongings covered. These should be covered under a home insurance policy. Similarly, you may have your mobile phone covered with mobile phone insurance.

3) Limit the duration of your policy as much as you can.

You can limit the duration of a Lloyds travel insurance policy as much as you need. In general, there are no set restrictions. This will allow you to save on premiums. The shorter the trip the less the policy will cost you. Just keep in mind that it is always better to have your policy taking effect in advance before your departure date, so that you can take full advantage of the cancellation coverage.

4) Get family coverage, if you are travelling with your spouse and children.

There are insurance policies designed for special travel. You can take advantage of them and save. It is much cheaper to cover yourself, your spouse and your children under one policy than get a separate policy for each individual. Now even Lloyds TSB Scotland PLC offers family cover that includes children up to 23 years of age, provided that they are in full time education. The number of children you cover with the policy will not affect the premium.

5) Get annual multi trip Lloyds TSB travel insurance policy, if you travel often.

It is much more cost-efficient to get an annual multi trip policy, if you have over two trips a year. In this way, you will save money as well as a lot of hassle. In general, this is the more affordable and more beneficial option to those who are not making just a single trip a year.

6) Check for multiple policy holder and bank client discounts.

You may be eligible for a discount on a Lloyds TSB travel insurance policy, if you have another insurance policy with the bank. Contact a representative to ask how much you can save, if you already have car and/or home insurance.

You may be eligible to a discount, if you have an account in this bank. You will have higher chances of securing a discount, if you have a credit card with a TSB airmiles travel bonus. You should check your credit card terms and conditions to find out if you are eligible for such a discount.

7) Buy a policy online to get a discount.

All customers buying AXA travel policy offered by Lloyds through the Lloyds web site automatically get a 20% discount. This discount is applicable to all types of covers as well as the additional ones. It excludes only insurance premium tax and medical screening premiums.

Saving on a Lloyds TSB travel insurance policy is guaranteed, provided that you use all of these tips. Remember that you can save on a lot of things, including types and amounts of coverage. You can find a variety of discounts to use as well.

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