A Guide to Buying Travel Insurance
Is Travel Insurance Really Necessary?
Travel is expensive enough already, isn’t it? Airfare, cruises, hotels, ground transportation, food and entertainment prices are already high enough. I don’t know about you, but I’m working hard for my money, and I want to keep my money in my pocket as much as I can while I ride. Was travel insurance a privilege or a necessity? Why not cut here and there a couple of corners. If it’s not really needed, why buy something?
My personal answer is, of course, that I am not independently wealthy and that I can not tolerate the potential financial losses that I would suffer if I needed medical attention while travelling. Not being independently wealthy also means I’m on the market for insurance that is sufficient but inexpensive. I assume you are in the same place, so you need low-cost travel insurance too. If you’re not sure of that yet, consider the following.
Did you know that if you become sick or injured while travelling abroad, your medical plan may not cover all of your expenses? If the treatment costs surpass the medical plan’s limit, you will be responsible for the difference, unless you have already paid travel insurance. In fact, in some countries, you may not even be admitted to hospitals without evidence of having health or medical insurance.
This applies to all, irrespective of age or length of time abroad. Suppose you get sick just a couple of hours after you reach your destination. Or suppose you’re going on a day trip to another country, and in a traffic accident, you’re injured. Perhaps presume that one of your kids is part of a group that goes abroad for a lesson, gets food poisoning and needs hospitalisation. In all cases, you will be responsible for the costs above and beyond the limits of your existing medical plan without appropriate travel health insurance.
Therefore, you need to make sure that you are adequately covered by travel medical insurance that will not break your budget before going abroad. You should check to see if your medical plan, employee benefits, or even a credit card already provides adequate coverage. If the coverage is appropriate for your needs, you will enjoy your trip without incurring unnecessary travel insurance expenses. 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 investigate and buy the travel insurance coverage you need.
How Much Can You Expect To Pay?
It cost around $2000 round trip when I booked my first plane ticket to China a few years ago, and my travel insurance saved me about $500 because I didn’t shop around for cheap travel insurance online.
A few years later, a little older and wiser, and my travel insurance cost me much less for another trip to China— about $300 for about the same coverage. What’s the difference? When I bought my second trip travel insurance, I shopped online and got the cover I wanted at the right price. If I had bought my travel insurance from my travel agent for this latest trip, it would have cost me about $600 for the flight, and only $1,500 for my plane tickets! Not just the clever way to go.
So how much are you going to cost? If you get sick or injured overseas and you have no travel insurance policy, not as much money as it will cost you! That’s the question’s obvious answer.
In reality, depending on your age and the type of coverage you want, how much travel insurance costs. Basic plans cost as little as $5.50 per coverage of $1000. On the other hand, depending on your age, you can expect a full coverage policy to cost you 7-10% of the cost of your trip. The older you are, the more you’re going to pay. However, regardless of the cost of the policy, it will certainly be much lower than the cost of medical evacuation!
The good news is that you can find outstanding but inexpensive online travel insurance and reduce costs when making an informed purchase effectively, conveniently and quickly. This is much better than taking what is given to you at the travel agency as you can choose from hundreds of travel insurance providers and plans and save a lot of money in the process. At Travel Insurance Central,[ http:/www.travel-insurance-central.com], you will start your search.
What You Should Consider When Buying Travel Insurance
Here are some suggestions to help you make an informed purchase to help you in your research.
1. Consider the worst-case scenario. If you can afford to withstand the worst-case scenario, you may not need travel insurance or you may not 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 point in spending extra for what you already have, such as burglary and damage compensation, in your homeowner or rental contract.
4. If you are a frequent traveller, you should consider annual or year-round travel insurance policies. These are sometimes referred to as multi-trip insurance policies. Whatever the term, compared to single-trip travel insurance plans, these policies can be relatively cheap.
5. Know what you are buying, So please read the fine print. Make sure you understand what the company sees as a legitimate reason to cancel or interrupt. If the list is too restrictive, you might need to consider a different policy.
6. Don’t restrict yourself to buying only from your travel agent. Perhaps he/she will only have the product(s) of one company available, and it’s there for your convenience, but it can be quite costly!
7. Ask lots of questions about the coverage. Play the game of “what if.” Request clear terminology explanations. Make sure you speak the same language with the travel insurance company.
8. Don’t buy the insurance through your transportation provider. How adequate will your insurance coverage be if the airline goes bankrupt?
Once You’ve Bought Your Travel Insurance
Note that between those specific dates your travel insurance policy covers you, so do not start your trip early or extend your trip without first adjusting the dates of coverage on your travel insurance policy. This may cost you more, of course, but it’s better than finding yourself without coverage when you most need it.
Interestingly, it almost goes without saying that when you go abroad you will bring with you your travel insurance policy. If it’s sitting at home on your desk, you can’t check the regulation. You should also have the toll-free telephone number of your travel insurance firm and other contact information with you wherever you go. It doesn’t do you any good if you get sick or injured and you’re sitting in your hotel room with the requisite policy details. Bringing your regular medical liability cards and documents with you is also a good idea.
I hope that the best travel insurance for you will help you with these tips. So take your vacation with the peace of mind of understanding that you are covered at the right price by the right travel insurance policy.
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