Considerations of Travel Insurance

We all know travellers all have one thing in common: a need or desire to explore new destinations. But from first-timer backpackers to business travellers to families or seasoned adventurers there is another common denominator: they’re all human and, as such, are at risk of the vagaries and foibles of this wonderful world. Accidents happen, luggage gets lost and flights get cancelled, but if you’re planning to embark on just one trip abroad during the year, a simple single trip travel insurance policy can guard against the financial woes of any of these things.

Don’t think you don’t need it

Many insurers offer single trip travel insurance and can tailor it to a two-day break in Paris, a conference in Europe, a trip to see family in far flung places, or for the annual family holiday in the Spanish sun. But it is just as essential and easy to tailor for winter sports trips to Europe during the ski periods, for example.

Knowing you have cover provides peace of mind and enables you to get on with your holiday; because it is just a single trip travel insurance policy, it is not only cheap, but very effective as well. It also covers the possessions you are taking on your trip.

Just how much will it cost?

For most people, single trip travel insurance policies can be bought for as low as £4.95 for travelling to Europe or just £8.67 for a trip to Majorca. The bonus is that even at such low prices, the policies can include several free aspects, such as cover for children, golf equipment, car hire excesses and for those going on cruises.
How do I choose?

Some of the best tips for seeking a good insurer for such a policy range from quality of service, speed of dealing with enquiries, ease of getting in touch with your insurer and the clarity of advice they provide.

For any policy, the general advice is always to read the small print and question any information you are in doubt before agreeing to the policy. A decent insurer will give clarity on any information a potential policy holder has queries about.

Good insurers will be available to the general public 24 hours a day, seven days a week, and will usually have a bank of employees who are fluent in the language of the country you are holidaying in.

Having an appropriate policy puts you in control when you have to confront a crisis, such as huge medical expenses. Check with your insurer for limits that apply to the cost of treatments and operations in hospitals abroad as well as the expenses for a stay.

Even taking a business trip abroad can be a big step if you are travelling alone, but taking out good coverage will give you peace of mind, which will enable you to conduct your business efficiently and with no worries.

For a family holiday a decent umbrella policy to cover the entire group is the best option, as it can cover all those unpredictable elements of a holiday your could encounter – whether it’s a traffic accident, a trip or fall at your hotel, or even a loss of luggage.

How Can Travel Insurance Be Beneficial?

Why do you need Travel Insurance?

When you go on a trip there are many things that you need to plan, like where you should go, what you should pack, what are you supposed to do once you get there. However, no matter how well you do your planning; there are somethings on which you cannot have your control like and these are the exact things that travel insurance covers:

  • Your flight may get cancelled.
  • Your luggage may get lost, which may also be having your medicines or prescription in it.
  • Your wallet and passport may go missing, and you may need a passport replacement and emergency cash.
  • You may meet with an accident and do not get any medical attention.
  • You may need to cancel your tour due to unavoidable circumstances.
  • Your tour operator, airline or cruise line may become bankrupt. In such a case you will need the non-refundable costs covered and reach your destination.
  • You may fall ill in a foreign land and need immediate medical attention.
  • A natural disaster forces you to leave your hotel.
  • A terrorist attack happens in the city you have planned to visit, forcing you to cancel your trip.

What are the different types of Travel Insurance?

Depending your unique circumstances there are different types of policies that you can choose from. The different circumstances may include the length of your trip, the people you will be travelling with, the activities that you will be performing while on the tour, etc.

Now let’s have a look at the different coverages that you can opt from:

Single Trip Travel Insurance

As the very name suggests, this policy covers you only for a single trip. You can use it for yourself or your family by buying it before you go on each trip. This can be expensive depending on how often and how many of you go on a tour.

Annual Multi Trip Travel Insurance

Under this you can travel as many times as you want for the particular span of time during which the policy is alive, which is possibly a period of 12 months. Hence, if you are a frequent traveler, this can be cheap for you.

Some users restrict the number of trips that you can have, while others do not have any such provisions.

Worldwide Travel Insurance

If you are planning to tour two or three continents then you may need this type of policy. You will not need this cover if you are willing to tour only Europe, but if you plan to tour Australia, America and New Zealand as well. Such a policy may be apt for a backpacking tour or a gap year, if it is bought as an annual policy.

Winter Sports Travel Insurance

This type of cover is needed if you are planning to go for a snowboarding, skiing, sledging trip, etc. This policy however, charges a high premium because it is extremely probable to get injured while being on such trips.

These are only a few main types of trips; there are several other types of insurance policies that you can pick and choose from. The idea is to have a travel policy, rather than touring around vulnerable to financial disasters. Insurance is mandatory while you rent a car as well.

A Guide to Buying and Using Travel Insurance

Is Travel Insurance Really Necessary?

Travel is already expensive enough, isn’t it? The cost of air fare, cruises, hotels, ground transportation, food and activities and entertainment are already high enough. I don’t know about you, but I work hard for my money, and when I travel, I want to keep as much of my money in MY pocket as possible. Is travel insurance a necessity or a luxury? Why not cut a few corners here and there. Why buy something if it’s not really needed?

My personal answer is, of course, that I am not independently wealthy and can’t withstand the potential financial losses I would incur if I require medical care while I’m traveling. Not being independently wealthy also means that I’m in the market for adequate but cheap travel insurance. I suspect that you are in the same position, so you, too need cheap travel insurance. If you’re still not sure about that, consider the following.

Did you know that if you get sick or are injured while traveling abroad, your medical plan may not cover all the expenses you will incur? If the costs of treatment are higher than the maximums of your medical plan, you will be responsible for the difference, unless you have already purchased travel insurance. In fact, you may not even be admitted into hospitals in some countries without proof that you have health or medical insurance.

This is true for everyone, regardless of age or length of time abroad. Suppose you fall ill just a few hours after arriving at your destination. Or suppose you make a day-trip to another country, and you are injured in a traffic accident. Or suppose one of your children is part of a group making a class visit abroad, gets food poisoning and requires hospitalization. In all cases, without adequate travel health insurance, you will be responsible for the costs above and beyond the limitations of your existing medical plan.

Therefore, before going abroad, you need to make sure that you are adequately covered by travel medical insurance that won’t break your budget. You should check to see if appropriate coverage is already available to you through your medical plan, employee benefits, or even through a credit card. If the coverage is sufficient for your needs, then you can enjoy your trip without incurring the extra expense of travel insurance. However, if you are not sure of your coverage, or if your coverage is inadequate or non-existent, then your next step should be to research and purchase the travel insurance coverage you need.

How Much Can You Expect To Pay?

When I bought my first plane ticket to China a few years ago it cost around $2000 round-trip, and my travel insurance cost me over $500 because I didn’t shop around for cheap travel insurance online.

A few years later, a little bit older and wiser, and my travel insurance for another trip to China cost me much less–about $300 for roughly the same coverage. The difference? Before buying my travel insurance for the second trip, I shopped around online and got the coverage I needed, at the right price. If I’d have purchased my travel insurance for this latest trip from my travel agent, it would’ve cost me about $600 for the trip, and my plane tickets only cost $1,500! Not exactly the smart way to go.

So how much will it cost you? Not as much money as it will cost you if you get sick or injured abroad and you don’t have any travel insurance coverage! That’s the obvious answer to the question.

In fact, how much travel insurance costs will depend on your age and the type of coverage you choose. Basic policies cost as little as $5.50 USD per $1000 of coverage. On the other hand, you can expect a full coverage policy to cost you from 7 to 10% of the cost of your trip, depending on your age. The older you are, the more you will pay. No matter what the cost of the policy, however, it’s sure to be much less than the cost of medical evacuation!

The good news is that you can easily, conveniently and quickly research and locate excellent but cheap online travel insurance and reduce the costs while making an informed purchase. This is much better than taking what you are offered at the travel agency because you can choose from hundreds of travel insurance companies and polices and save yourself a lot of money in the process. One place you can start your search is at Travel Insurance Central, [http://www.travel-insurance-central.com]

What You Should Consider When Buying Travel Insurance

To assist you in your research, here are some suggestions to help you make an informed purchase.

1. Consider the worst-case scenario. If you can financially withstand the worst-case scenario then maybe you don’t need travel insurance or maybe you don’t need a comprehensive policy.

2. Make sure the policy you are considering provides adequate medical/dental coverage, including medical evacuation coverage just in case you need medical care in a place where the best treatment available is below the standards you are accustomed to in your country. This can happen if you fall ill in a developing country or even on a cruise ship.

3. Check your existing insurance policies for possible coverage. There is no sense in paying more for what you already have in your homeowner or tenant policy, such as theft and loss coverage.

4. If you are a frequent traveler, you should consider annual or year-round travel insurance policies. Sometimes they are called multi-trip travel insurance policies. Whatever the name, these policies can be relatively cheap when compared to single-trip travel insurance policies.

5. Know what you are buying, so read the fine print. Make sure that you understand what the company considers to be a legitimate reason for cancellation or interruption. If the list is too restrictive, maybe you should consider another policy.

6. Don’t restrict yourself to buying only from your travel agent. He/She will probably only have one company’s product(s) available, and it’s there for your convenience, but that convenience can be quite costly!

7. Ask lots of questions about the coverage. Play the “what if” game. Ask for clear explanations of terminology. Make sure that you and the travel insurance company are speaking the same language.

8. Don’t buy the insurance through your transportation provider. If the airline goes bankrupt, how adequate will your insurance coverage be?

Once You’ve Bought Your Travel Insurance

Remember that your travel insurance policy covers you between certain specific dates, so don’t start your trip early or extend your trip without first changing the dates of coverage on your travel insurance policy. Of course, this might cost you extra, but that’s cheaper than finding yourself without coverage when you need it the most.

Also, it almost goes without saying that you should bring your travel insurance policy with you when you go abroad. You can’t consult the policy if it’s sitting on your desk at home. You should also carry your travel insurance company’s toll-free assistance phone number and other contact information with you wherever you go. It does you no good if you get ill or hurt and the necessary policy information is sitting in your hotel room. It’s also a good idea to bring your regular medical coverage cards and info with you.

I hope these tips will help you by the best travel insurance for you. Then take your trip with the peace of mind that comes from knowing that you are insured by the right travel insurance policy at the right price. Bon voyage!