15 Things Every Traveler Should Know When Buying Travel Insurance

Travel insurance is a written policy that provides secured compensation to a person when going for a vacation or traveling.

Over the years, sales on travel insurance policies are growing steadily by nearly 15%. Notwithstanding this recent statistical report, many people are still confounded whether or not to purchase travel insurance. Find out about some facts that travelers should know when buying travel insurance.

Consider buying travel insurance with annual coverage.

If you make multiple trips in a year, then opt for annual instead of one-trip policy since you will save more money from this option.

Know the coverage.

Examine what the inclusions of the travel insurance plan are.

If you are considering a beach trip, then a winter sports cover is certainly not necessary.

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Purchase in multiples.

In any insurance policy, buying in numbers is cost-effective. The same goes when you apply for a multi-purpose insurance plan; for example, mortgage insurance plus travel insurance.

Determine all the hidden costs.

Advertisements about travel insurance policies are always deceptive. Find out from the agent or insurance provider that covers the policy.

Shop online.

The Internet is a haven for insurance discounts and the best rates. Google the cheapest travel insurance!

Know the cover limit of travel insurance.

Depending on what covers the policy and the country to where you travel, the travel insurance limit runs from $1 million to $3 million.

Inform the insurance policy provider of any medical condition.

This is necessary since not doing so may forfeit any future claims.

Read between the lines the fine prints.

This is the most overlooked section of insurance plan holders. Never disregard this since it is the only sure way to know what and what?s not you are covered for.

Health insurance policies rarely cover travel insurance.

Health insurance policies do not cover medical evacuation coverage in nearly all cases.

Travel insurance is not entirely good-for-nothing.

Travel insurance coverage may include personal item protection, financial investment security (while on travel), and medical assistance. Travel insurance can also guarantee financial protection whenever policyholders travel in high-risk countries. However, the features mentioned above may entail added costs. Winter sports coverage may increase the premium by 35%.

Travel insurance provides financial assistance in the event of unexpected delays.

In case of flight delays and cancellation, your travel insurance policy may cover the cost for your hotel stay/s.

Know the exceptions of travel insurance.

Compensation is not granted for injuries caused by alcohol drinking, illicit drug consumption, and high-risk sports.

Stay away from buying insurance plans from travel agents.

It has been known that travel insurance policies sold from travel agencies cost about four times higher than directly from providers.

It’s complicated for travelers with medical conditions.

People with existing medical conditions and pregnant mothers may find getting travel insurance policy challenges. This is because these people belong to the high-risk groups and, thus, entail more costs.

Be clear about maximum travel duration.

Find out from your insurance plan providers how long you should stay on your trip. Guaranteed insurance protection can be as short as four days or as long as 31 days.

Conclusion

Obtaining travel insurance is often a standard procedure and a requirement for visa applications or visits to certain countries. But more than just a standard specification that commonly don’t get used, travelers should pay attention to the insurance policies they are getting. After all, any travel insurance coverage costs money and being assured that they cover our travel needs provides us with peace of mind.

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