You've finally saved to go on that dream holiday you have been planning. Now you're wondering if you should buy travel insurance. Do I need to go to the extra expense? All I can lose is my luggage, right?
Guess again! Anything can go wrong while you're traveling, and I strongly favor buying a policy.
Most travel insurance policies are designed for a variety of travel needs but, I emphatically advise reading the fine print of any policy you purchase regarding any deductibles and health situations. You many find your policy won't cover preexisting conditions that may cause a problem, or that the medical coverage is only for an injury or an illness -- not both. For emergency aid, travel insurance polices are generally dependable and affordable, but there's still a myriad of gaps in the coverage provided.
You can find polices designed for any type of trip you may be planning, such as a single trip for hunting, backpacking, cruises, house rentals, and a host of others. But, the specific types and amounts of coverage you get depend on the policy you choose. it is important to remember that you will only be covered for what is specifically stated in your policy and for nothing else.
Most policies cover trip cancellation, lost baggage, medical, dental, and accidental death coverage. Other policies include emergency evacuation, 24 hour travel assistance, and trip or baggage delay. You may even find policies that include options for collision or damage to rented cars and business conflicts. there's many options that can be covered, but you will have to ask.
The premiums for the policies are generally 5% to 7% the cost of your trip, but fees will vary depending on the your medical history and passengers ages. Many companies offer policies that will include coverage for children at no extra charge.
it is best not to buy your travel insurance from your tour operator. i have listed a few reasons why it may be better to purchase through an insurance company separately.
Most travel insurance policies offered by the operator are less flexible to your individual needs;
Provide a lower amount of coverage;
May only cover a portion of the trip;
Your coverage may be secondary and the insurance will only pay for what you own private health or homeowner's insurance does not cover;
May duplicate coverage you already have;
In the event the tour operator liquidates and goes belly up, you would lose not only your trip, but also your premium.
Many travel agents are not fully knowledgeable when it comes to understanding the details of various travel insurance policies and may overlook something that could be important to you or your relatives and few offer suggestions. Buying travel insurance may be less expensive purchasing through your tour operator or cruise line, but for the reasons listed above, you should check around.
If you do choose to buy your policy from your tour operator, be sure to use a credit card. Depending on the policy of the credit card issuer, you may be provided with protection against potential default of the operator.
When buying your policy from an insurance company:
Always get quotes from several companies
Ask if the plan is pre-packaged or if you can custom design your own
Can you waive the preexisting condition exclusion
Ask if you're covered for cancellation due to a terrorist incident. Don't count of the company to provide information
Ask any query you can dream up and
Do ask for suggestions
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