5 Tips on Buying Travel Insurance
Buying the correct travel insurance is important before going on vacation. Travel insurance is a way to minimize the considerable financial risks of traveling. These risks include accidents, illness, missed flights, canceled tours or cruises, lost baggage, emergency evacuation, and much more. Understanding the type of travel insurance you need and what's included makes the difference between having an enjoyable trip to a nightmare that could put a huge financial and emotional burden on you and your family if something goes wrong. The following tips tell you what you should look for in Travel Insurance and ways to save you money.
- Compare Multiple Insurance Rates - Don't assume your travel agents insurance is the best deal. Often times, they give you travel insurance at a premium and may not be suitable coverage for the type of travel you are going on. Find & Compare Multiple Insurance Quotes online - Prices vary from company to company, so it pays to do your homework. When looking for travel insurance get at least three price quotes. You can spend your time calling companies directly or access multiple travel insurance quotes online from insurers with www.find-insurance-policy.com. Finally, sometimes your travel agent or tour operator may tell you that you have to buy their travel insurance in order to buy a vacation from them, maybe as part of an inclusive deal. Only take this if the total cost is better compared to buying the vacation and travel insurance separately. In most cases you will find that going through your travel agent costs more, even if it is a 'special deal'. Margins on vacation packages are quite lean and tour operators and travel agents often make most profit from selling overpriced 'extras' such as travel insurance.
- Plan ahead - Should you be planning to travel abroad on more than a single occasion in a year then you will almost certainly save money by buying an annual multi-trip - travel insurance policy rather than a single travel insurance policy each time you go. This alone can save you hundreds of dollars. Remember, multi-trip travel insurance also automatically covers those weekend trips and day trips away from your home. Also, reserve travel insurance immediately after booking your vacation, so you will be covered for cancellation. Finally, don't change flights should you need to cut a trip short or extend your trip before getting your travel insurer's approval.
- International Travel - If you plan on travelling outside the U.S. then make sure you have medical insurance. Additionally, be certain BEFORE you leave for your trip that you understand the medical coverage details. For example - does it cover repatriation to your home country, if necessary? Does it cover ambulance costs? Make sure you understand whether the insurance will require you to pay for medical or other bills upfront and then reimburse you, or the policy will kick in immediately.
- Be informed - Your insurer needs to be aware of any pre-existing medical conditions, or else you may not be covered by the policy you purchased. Additionally, if you plan on driving abroad, your car insurance company needs to know so they can advise you on the best coverage. Most travellers decline car rental company insurance because their auto policies cover them in such situations. The same may be true for a wide variety of other travel needs. For example, theft and loss prevention could be covered in your homeowner policy. Call your homeowners insurance and auto insurance company to inquire, as purchasing duplicate coverage does not double your benefit. It wastes money and creates confusion that could actually delay payments from your insurance company. Finally, take the time to read the small print on your travel insurance policy. If you have any questions on it or are unclear about something, ask your provider about them before you go.
- Organize important numbers - have the international helpline numbers for your travel insurance company, along with a copy of your policy, with you all times. Remember, if you keep a copy in your wallet or purse and it gets lost or stolen, then the first thing you need is your travel insurance policy and telephone number. So keep a copy in your room / safe deposit box as well.
Use these tips to find, compare and save money on Travel Insurance.
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