Things to Know Before Buying Travel Insurance

Is Travel Insurance Necessary?

Is Travel Insurance Necessary?

Most people understand that going on holiday is often a pretty unpredictable experience. You may not know exactly what conditions are like where you are going, there could be an accident or delay involving your transport, you might be the victim of a crime, you might fall over on the hotel stairs! Being in a foreign country can make many simple problems more serious as well. For those reasons most people decide to carry travel insurance, they consider it an essential part of traveling and for most people that is true.

But is it always essential? For many travelers the specific details of their trip may mean they don’t actually require travel insurance or they only require a certain type of coverage and there is an opportunity to save money.

In the United States travelers now spend close to $2 billion per year on travel insurance, so it is a flourishing industry and insurers realise this. That figure is up from $1.3 billion in 2006, so it can be seen that Americans are more well informed about the dangers of travel and the benefits of this kind of insurance.

The vast majority of policies purchased feature trip cancellation insurance which is usually very valuable for any form of traveling. However for other forms of travel insurance like medical insurance and property insurance, it’s worth looking at your existing policies and credit card coverage first – you may have too much coverage!

For example many credit cards offer some coverage for trip cancellation and many home and contents policies will provide coverage for your expensive items like cameras while you are traveling. By examining your current coverage and real risk factors you may be able to save some money on travel insurance which you can spend on a few more souvenirs from your destination.

Your personal situation also plays a very large role in determining how much coverage you need. Are you a healthy 25 year old who is simply going to Canada for the weekend? Or are you a 75 year old going on safari in Africa? You circumstances and travel destination may necessitate a certain kind of coverage. If you are going to Canada, which has a great public health system – you probably don’t need travel insurance that covers health issues at all! An older person traveling in Africa might need medical evacuation insurance so if anything happens you can immediately be transported to a world class hospital.

So here are a few pointers to help you determine if you need travel insurance and how to get a better deal on it!

Evaluate current insurance policies and credit cards
Firstly, evaluate your current health insurance and contents insurance policies to determine if they provide coverage while traveling. That might reduce the necessity of travel insurance. Take a look at your credit card to see if it provides any protection on travel costs.

Evaluate your personal situation
Look at your personal situation including your age, health, and the kinds of valuables you will be taking with you. If you are 20 years old, in good health and traveling to Australia (which has a very good public health system) with a cheap camera and a bag of clothes, you may not need travel insurance at all.

Your destination and what you plan to do there also plays a large role in determining if you need travel insurance. If you are 20 years old, in good health, but plan on going to Bali and drinking copious amounts of alcohol and partying – then there is substantial risk. That country does not have a world class health system and many tourists are injured in Bali every year.

If you plan on indulging in any high activities like bungee jumping, rock climbing or sky diving it is also a good idea to have travel insurance.

If it is a short trip going to another part of America or to Canada, travel insurance may not be necessary at all.

Check the quality of travel insurance policies
The policy provided by your travel agent may not in fact be the best one for your and could just be the policy that they receive the highest commission on!

It is usually best to shop for a policy yourself, after you have evaluated your situation and requirements. There are many insurance comparison search engines on the Internet which can help you narrow down your choices and find the right insurance for you. Websites like Square Mouth and Insure My Trip are both very good for narrowing down your choices and getting the right policy.

Understand how much good travel insurance costs
Travel advisors suggest that a good insurance policy should cost between 5% and 10% the cost of the trip. So if you are doing a massive trip through Europe which visits 12 countries and costs $5000 USD, you might have to pay as much as $500 USD for the highest quality travel insurance. However insurance prices that highly usually contains much more coverage than the average person requires, so a policy more around the $250 USD mark is probably more suitable.

So while travel insurance may not actually be necessary for everyone, if you are unsure then definitely err on the side of caution and have the peace of mind that travel insurance brings!

When to Buy Travel Insurance

Do you need Travel Insurance

Do you need Travel Insurance

For may travellers, budgetary constraints come into play when planning their trip overseas. Quite often they are trying to spend as much time overseas as they can afford or trying to get the most bang for their buck when choosing destinations. Unfortunately this can mean that there isn’t always money for travel insurance. Some people can in fact skip travel insurance because they have other kinds of insurance that can cover the most important elements of travel insurance like their medical coverage. However for many people travel insurance is actually a crucial element of any travel plan and it can not only save you money on cancellations and incidents of theft, but can save your life if you require emergency medical care.

For some people travel insurance especially important. For example, if you have a pre-existing medical condition that could flare up while you are overseas, then you should definitely have travel insurance (or suitable medical insurance that includes overseas coverage). If you are traveling during the storm season in the country you are visiting, you should definitely include travel insurance in your costs. So if your trip is interrupted by bad weather you may be able to claim some of the travel costs back.

If you are traveling to an area with political tensions, that might also impact on your ability to travel, so make sure you have travel insurance in that instance as well. Also if you are spending a great deal of money on the trip, or traveling through a large number of countries – your chances of a mishap or delay in your travel itinerary increases so you should take out travel insurance.

Some people can skip more safely travel insurance. So if you already have medical insurance that provides worldwide coverage, you don’t have to worry about that element with travel insurance. If you aren’t taking any expensive items on the trip with you, or you have a homeowners policy that covers your valuables while you are traveling with them, that will also lessen your need for travel insurance.

If you afford to lose some valuables or pay additional travel expenses incurred by cancelations, then your are less likely to need travel insurance. If you are very confident you are traveling somewhere safe, where there is low risk of theft, assault or any kind of political turmoil, you can also potentially skip the travel insurance.

A responsible travel agent will always try to promote travel insurance to you, and in the vast majority of cases it is definitely a good idea. But if your circumstances are similar to those above, you may be more likely to safely skip it.

If you decide to buy the travel insurance, make sure you don’t get ripped off, and obtain a solid policy from a reputable provider. Most travel insurance policies can add about 5% to the cost of the holiday, but if you are traveling to a dangerous destination, that can increase dramatically.

Also consider the fact that travel insurance covers a lot of the possible problems while on holiday, not just medical and robbery related ones. Most travel insurance policies will include payments for baggage loss, trip cancellation, natural disasters, emergency evacuation and medical expenses. Most also include payouts for accidental death and loss of limbs. So if you have a serious accident while overseas, your family members can receive some kind of payout in addition to any life insurance that you may have.

If you cancel your holiday for a personal reason, most travel companies will not give you much of a refund. If you have travel insurance, most insurance companies will pay up to 75% of the cost of your travel. The same goes for missing flights or travel connections – the insurance company will pick up the slack when airlines or travel companies refuse to help with the cost of new arrangements.

Before you make a purchasing decision about travel insurance, check your existing insurance policies to see if they provide any coverage that can be of use while traveling. Some life insurance, medical insurance and homeowners insurance policies have elements that can be used while you are traveling. You really don’t want to duplicated insurance measures if possible because you may be able to get cheaper insurance that doesn’t include the duplicates.

You should also consider that some tour packages include insurance costs for all of the participants. This is especially true of cruise tours, they usually push participants into insurance because of the dangers of traveling at sea. You can usually opt-out, but consider the features and cost of the policy they are selling compared to third party policies – it might be a better deal.

Top Reasons For Getting Travel Insurance

Holiday Insurance

Holiday Insurance

The travel industry has witnessed numerous changes during the last few years, one of the most notable change being the modified attitude towards the matter of holiday insurance. A good travel cover policy protects vacationers from all of the unplanned situations, reducing financial risk and financial loss due to ill-fated accidents. Have a quick look at five reasons why travel insurance is so crucial if you are planning to travel any large distance.

Cancellations Insurance – Travel companies do not generally provide a reimbursement in case people have to call off their trip due to ill health, death, or any other crisis situation. If holidaymakers buy proper travel cover after reserving their tour, cancellations cover can be covered for unanticipated trip cancellations.

To be insured for health problems – The healthiest people can fall unwell while on a holiday and treatment costs lots of money, oftentimes a lot more than the price tag of the tour. Good travel cover policies feature considerable professional medical cover in monetary terms, adequate to fund the high medical prices in North America. Should the policy holder falls sick, the insurance company can pay the medical costs provided you have been genuine and mentioned any health conditions when first acquiring the insurance coverage.

For getting repaid for stolen property – Travel luggage and valuable items could get thieved, suddenly lost, or dropped while on a journey and it will cost you a lot to restore all the lost items. Insurance safeguards travelers against such loss, offering the money required to replace the displaced item. This insurance coverage is great for sports tourists as the cost of replacing broken sports equipment is extremely high.

To have a stress free trip – Holiday insurance policies will assist you to take a tranquil and worry free holiday. If you are heading for London alone or with your loved ones, managing an unexpected emergency such as, a sudden illness or loss of baggage in a foreign country is usually a daunting predicament. However, should you have already invested in a travel insurance program, you will have a readymade action plan to help you get out of that situation. In such cases, the insurance plan could be a life-saver, giving you badly needed funds for medical care, sports accidents and lost baggage.

It is sometimes obligatory for many Guided Tours. Travelers are sometimes required to have holiday insurance should they want to be considered part of a number of guided tours. This sort of trip insurance may be expected on trips to the Himalayas and other remote and potentially high risk places. Vacationers might like to go on these trips without the added expense of the insurance coverage however it might not be possible on some tours. The tour operator or planner might not let you go if your health and safety is at risk and you have no insurance coverage.

Travel Insurance Tips

Travel insurance Tips

Travel insurance Tips

With Travel Insurance, even after being extremely cautious, you could make some mistakes then regret it later. So, read on for the top ten most widespread blunders that tourists make when acquiring travel insurance. We hope they are going to allow you to stay away from the common errors.

1) Do not forget to research the protection that your plan provides.

2) Never write false details. When people try to save lots of money hiding the info it leads to undesirable repercussions in the long term. Supply correct info about your current healthcare disorders mainly because if the insurance provider finds out you had been suffering from an ailment which you did not disclose, the insurance contract is usually terminated.

3) At all times read through the fine print (terms and conditions). Under no circumstances invest in an travel insurance policy when you have not gone through the terms and conditions mentioned in the policy.

4) Really don’t wait around until the last moment. A last minute purchased insurance plan might not have coverage that you just want and you you should not have enough time to examine terms and conditions of your plan. In addition, setting up your prerequisites beforehand (e.g., comparing different alternatives) will save you cash. A different thing is any time you acquire travel insurance protection in the last minute, you are not covered for any emergency situations and cancellation of the journey.

5) Try not to break the laws. It is termed the golden rule of traveling: always put up with all the laws of the nation of your vacation. The coverage of one’s travel insurance coverage is restricted to authorized activities only. Always attempt to find out the guidelines of the region you plan to go to.

6) You should not break travel insurance procedures. Look into every little thing you happen to be covered for and don’t drop by areas which do not come underneath the terms and conditions with the coverage.

7) Do not invest in travel insurance coverage following you’ve got become ill or your trip was postponed because you will not be covered.

8) Don’t enter into dangerous pursuits and sport except if your insurance protection covers it. Cover for harmful actions can be an optional feature, so remember to incorporate this coverage for your coverage.

9) Stay clear of not shopping for travel insurance until traveling.It truly is excellent if nothing negative transpires. On the other hand, if any sudden events takes place these kinds of as cancellation of excursions or one of your family members is to be hospitalized you might not have enough money to deal with all essential expenditures.

10) If anything just isn’t clear for you about terms and conditions of one’s policy, don’t be scared to ask questions. The reputed insurance plan providers will provide you with any information and facts you may need. Asking questions will give you a clear close notion regarding what you are protected for and whatever you are not protected for.

These are a number of the important points that remind you to be careful in order to stay clear of any blunders in travel insurance coverage.