Travel insurance covers us for many of the things that can go wrong while we are traveling, from missed flights to medical repatriation. It can save us from relaticely small expenses to much larger ones.
A medical emergency overseas can cost hundreds of thousands of dollars. Most insurers cover these types of emergencies for at least the tune of $500,000, $2 million is even more common. On average a medical claim is around a thousand dollars and medical are the most common types of travel insurance claims.
1. It is important to read the fine print and fully understand your insurance policy. Making the sound decision to buy insurance is the first step but you need to know what your responsibilites are. You will not be covered if you have not taken the due care described in your policy. If you don’t understand your cover and later need to make a claim you could find your claim will be declined.
2. Even the most basic insurance providers can adequetly cover the most common travel insurance claims. Look for cover for medical, lost and stolen luggage and missed/delayed flights.
3. If you are taking valueable items like laptops and other technology or valuable items have your insurer add them to your policy as an optional extra. This means you won’t be under insured if they are stolen or go missing, if you lose baggage there is usually a per item claim limit or for the whole contents of the baggage. These options protect you from those limits.
4. Regular travelers could benefit from an annual isurance plan. Obviously plans for extended periods can come with some benefits. Some credit card rewards programs offer free insurance which may be another option, cover is usually limited to items and services purchased on the card so it pays to take care.
5.When you buy travel insurance always provide full disclosure as the fine print will explain you could be squandering your money if you don’t divulge pre existing conditions or other circumstances that may effect your insurers ability to cover you.
Travel insurance is often seen as an additional expense that can be easily avoided, not taking out insurance though could be a huge mistake. The likeliness that you will need to claim on travel insurance is probably more than you it will ever be on your home or car insurance. Travel insurance offers excellent value in this way.
Dan Haneveer is an enthusiastic traveler who knows first hand the importance of being insured. Read a travel insurnace review and get a travel insurance promo code
Leave a comment