There’s a saying amongst people who travel frequently; you can’t afford to travel if you can’t afford travel insurance.
Many people would rather forget the whole nasty business of comparing travel insurance quotes and instead focus on the travel itself, however, travel insurance is necessary every time you hit the road. Not having travel insurance for the vacation with your family or your much anticipated honeymoon is just not worth the risk.
There are numerous reasons why you should consider travel insurance:
- Terrorist event
- Get sick or injured on your trip
- Hurricane damages your destination
- Luggage is lost or stolen
- Passport disappears
- An emergency crops up and you are forced to cancel the entire trip
The list goes on!
Here are our tips on what you need to do in order to get the best travel insurance.
But before we do, let us first define what travel insurance is and what it involves:
Understanding Travel Insurance
Travel insurance is designed to cover emergencies such as unexpected trip cancellations and medical issues. In addition, it also covers luggage that was damaged, lost or stolen while in the airlines jurisdiction.
There are different levels of travel insurance depending on the following:
- Size of your deductible
- The insurance policy
- The insurance company you get the travel insurance from
There are some policies that offer higher or lower medical expense options. The higher expense options are designed for countries that have higher medical costs
When choosing an effective travel insurance cover, you will need to determine what your situation and needs are. It is imperative that you consider the following:
- Destination of travel
- Means of travel for instance, rental car, flight etc
- Activities you will be involved in
- Length of trip
- Value of goods you will have with you
- People you will be travelling with
- You need to understand the extent of the travel insurance policy. For instance, does it only cover you for medical expenses you incur while abroad on your travel or are you able to get reimbursement for medical treatment that continues when you get back to your country
- You will need to find out if the policy requires you to produce a written report within a reasonable time. Also, are there documents that you need to attach when submitting your claim?
- Does the policy you’re buying allow you to downgrade or upgrade to a cover that better suits your needs as well as your pocket
- Understand whether being under the influence of alcohol or drugs nullifies your policy
- Finally, please note that most travel insurance policies do not cover pre-existing medical conditions, travel to countries that expose you to high-risk, as well as adventure and sports activities with a high risk
- Ensure that you take note of any exclusions that might be included in your policy such as acts of war, uprisings, terrorism as well as civil commotion; acts of God such as smog caused by erupting volcanoes; severe weather conditions as well as natural disasters