Although travel insurance can seem like a costly investment, the sense of security it buys is worth every penny. Whether you’re planning a honeymoon in Paris or a vacation to Bali, travel insurance can prevent your plans from being ruined by events beyond your control.
Over recent years, global events have influenced the way many travelers view travel insurance. In fact, more and more travelers are beginning to consider travel insurance a necessity. If you’re interested in purchasing travel insurance for an upcoming trip, here’s what you need to look out for.
Research different types of coverage
There are several different types of travel insurance coverage options, including vacation cancellation, medical, and flight insurance.
Cancellation insurance is the most popular form of coverage and can be found in most policies. Cancellation coverage insures your trip in the case of unforeseen events, like illness or bad weather. Since the exact coverage varies per provider, make sure to thoroughly read each policy.
Medical insurance plans typically cover emergency assistance, hospital and ambulance costs, and emergency dental coverage. If you’re planning to travel with a pre-existing condition, it’s important to disclose this before when buying a claim. The failure to disclose a pre-existing condition, regardless of how high or low risk it may be, can result in your policy becoming void.
Flight insurance is offered by most airlines and insurance companies. If you’re planning to travel internationally, purchasing flight insurance can help you save money in the event of a delay or cancellation.
Compare prices online
Before making any purchases, make sure to compare prices and coverage options online. Many services allow travelers to enter their destination, desired type of coverage, and departure and destination dates in order to find coverage options for their trip within a matter of minutes. Since travelers can purchase coverage online, finding the right travel insurance plan is quick, easy, and hassle-free.
Make sure you’re fully covered
It can be easy to overlook important details of your trip while purchasing insurance. For instance, if you’re visiting more than one country, it’s important to make sure each country you’re visiting is covered in your insurance policy. Since some insurance providers don’t ask for every country during the purchasing process, contact an agent with any questions.
Additionally, be careful when calculating the duration of your trip. If you calculate the incorrect number of days, your insurance policy will automatically become invalid, causing you to lose coverage. Make sure to take time zones into account when calculating departure and arrival dates.
Finally, if you plan to participate in high-risk activities or bring along expensive belongings, ensure that your insurance policy covers this. In some cases, providers require you to pay extra to insure more expensive items.
Purchase coverage as soon as possible
Forbes recommends purchasing travel insurance within 15 days of booking your trip. Purchasing insurance in advance can help you score extra coverage as well as lower prices and discounts.
Waiting until the last minute will ultimately leave you paying higher rates and stressing over finding the right insurance plan. In addition, purchasing insurance within a few days of your trip may result in your claim being denied or prevent you from qualifying for full coverage.
After purchasing your coverage, save versions of all your insurance information and travel documents online in addition to bringing along a print copy. Saving these documents online will make it easy to access these documents while traveling.
When it comes to planning a trip, buying travel insurance can help save you money and peace of mind. Non-refundable travel purchases can stem from a variety of unforeseen circumstances, including medical reasons, bad weather, or flight cancellations. Ultimately, the best way to find the right travel insurance for your trip is to visit iSelect to compare providers.