Travel Insurance is designed to cover unexpected medical emergencies and events such as trip cancellation, your personal effects, lost, stolen or damaged luggages by airline, and other related losses incurred while traveling.
The importance of Travel Insurance
Imagine this, you’ve saved up all your hard-earned money, paid for your flights and accommodation, tours are booked, clothes are packed, and your spending money is just waiting to be spent. You are getting more excited as the days lead to your departure day and for your vacation to finally begin.
In a series of unfortunate events, what if these happen to you:
* You suddenly need to cancel your trip
*Natural disasters damage your destination
*You get ill or injured on your trip
*Stolen or damage luggage and belongings
* Losing your passport and important documents.
Travel Insurance provides you with a bit more peace at mind when traveling and will surely benefits you if such events were to occur.
Choosing the right travel Insurance for yourself and your family might be a bit confusing at first but once you know the basics and essentials, you may discover that the process of buying travel insurance really isn’t that complicated.
RELATED: Health Insurance
If you are planning to take on a travel insurance policy for your next trip or vacation,then follow this tips so that you know where to get started.
(a) Know your needs & essentials
It’s without a doubt there are tons of travel Insurance policies available, to narrow your search for this policies, you have to first know your needs and the types of coverage you want.
These include travel destination, mode of transport, activities during the trip, duration of trip, companions, value of goods take along and risk aversion, among many more.
(b) Pay attention to exclusions
Bear in mind that almost all travelling insurance policies do not the following:
- Travelling to high-risk countries
- Pre-existing medical conditions
- Sport and adventure activities with high risk
- Incident involving being under the influence of alcohol or drugs
- Severe weather conditions or natural disasters
- Acts of war, terrorism, uprising or civil commotion.
Choose a travel Insurance policy with the least exclusions and pay extra attention to them when reaching an insurance policy.
(c) Annual /Single trip policies
To choose the right policy, you need to plan ahead and know your travel habits. If you know you are going to travel several times within a year, an annual travel insurance policy (multi-trip policy) cover all your trips and can be far more cost effective.
(d) Customer Loyalty
Take time and check your other existing insurance providers (car and house insurance) as many Insurance companies offer discount to existing customers.
However, don’t hesitate to make comparison to other companies as well so you may enjoy the best benefits offered.
(e) Cheap doesn’t always equal good
Be ware of cheap travelling insurance policies. Getting the cheapest travel Insurance policy is not always the best strategy as this could ultimately cost you a lot more in the long run if you do not get the right policy for yourself.
Keep in mind that the best travel Insurance policies and companies provides good coverage and will work with you to give you the best experience possible. So make sure to study up and make the right decision on which one suites your needs the best.
However, such Policies do have a maximum duration per trip, so make sure to double check with our advisors, otherwise, sticking to a single trip travel Insurance policy might be the better option.
Whilst there is a medical components in your travel Insurance policy that can cover a sudden illness or accident, travel insurance is not intended to be a substitute for your health insurance policy in your home country.
(g) Travel Insurance for domestic travel
While most travel insurance offer policies for traveling abroad, there are quite a few domestic travel insurance options as well.
This is completely up to you. You can get policies that can fit in with your health and home insurance, so you pay for only what you need. Take a policies that suits your interest and coverage the best.