What Is The Right Travel Insurance For You?

There are three ways to buy travel insurance: directly, through travel companies, and through travel agents. This type of policy usually covers various situations. However, how should you pick the right one? First of all, you will be given the option to buy an insurance policy when you start booking for travel. Most of the time, the travel agency asks you if you already have one. If you do not, it will definitely be a good reminder. Here are a few helpful tips.

travel insuranceDo not the take the first policy offered

It does not matter if the offer is very attractive. You should not be taking the first offer you come across with. There is a good chance that a better option is available. Remember that travelers have various insurance needs. Therefore, shop around for other options before making the final decision. This way, you can avoid buying a useless policy.

 

Important areas of coverage to look for

Coverage for accidents or death is common and is usually offered in most travel insurance options. However, this alone may not be useful because other insurance policies already offer this coverage.

If you travel heavy, with a lot of expensive materials, you may want to ensure that the policy covers loss, theft, or damage of baggage. This applies to the entire duration of travel and not just during the flight. Other policies even cover baggage delay. If the baggage contains important personal items, gadgets, or equipment, the insurance company can cover the cost of the items if they are delayed for a specific amount of time.

Look for cancellation coverage as well. This is useful when you book your travels early. In the event that you cancel the trip due to any reason, the non-refundable travel ticket will be reimbursed by the policy issuer.

If you have health issues, medical coverage is a must as well. This is supplementary to any other medical insurance policy you already have. If it does not cover international travel, it is worth it to buy supplemental coverage.

When you opt to rent a car during your travel, look for rental car damage coverage, which includes any damage caused by collision, vandalism, theft, and natural causes. Be careful to determine which situations are covered, though.

Travel delay is also important. In cases where the weather turns bad, this coverage can come in handy. Typhoons, hurricanes, blizzards, and other weather-related causes can delay flights. Just be careful when choosing the right travel insurance coverage for this one. Some policies may stipulate that you can be provided coverage only when the airline cancels flights, the hotel is uninhabitable after a weather disaster, and so on.

Look into details carefully

Always read the fine print. It does not matter if you have a travel insurance policy with the most coverage. If you do not meet certain conditions stipulated in the terms and conditions, you may not be able to collect any of the insurance money you expect. Know all the conditions that make you eligible to claim insurance money before you decide to buy.

Bottom line

Choosing the right travel insurance may be a hassle, but it does pay off really well. First of all, get the best coverage suited for the type of travel you are going to take. Do not simply choose the first one presented to you. Then, make sure to read the terms and conditions carefully to avoid issues.

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

4 Comments
  1. I travel a lot for business and have been wondering whats the average travel insurance cost? Hard to know if I am getting a deal or not if I don’t knowa the average cost or the average coverage.

    • Well travel insurance varies ALOT. It depends on where you are going, how long you will be there, if you are just insuring the trip or if you want to add medical in. Each policy can be tailor made for you so I can’t really give you an avg since there are so many variables. I went to China for a month a few years back and go the bare minimum of travel insurance and it cost me about $160 for the policy. I was going with a group so I’m not sure if that was a great deal or not, I just decided to use the company the tour guide recommended.

    • The average cost of travel insurance is 4-8% of the total cost of your trip. But the cost also depends on what type of coverage you get. There’s a high end and standard coverage. Practically you need to make sure if it’s worth it. with travel insurance you are not only protecting your “travel investment” but you are also protecting your peace of mind.

  2. I was very happy to find this web-site.I wished to thanks on your time for this glorious read!! I positively having fun with each little little bit of it and I have you bookmarked to take a look at new stuff you blog post.

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NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

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