How To Find the Best Travel Insurance – If you have ever used a travel insurance plan before or you are currently planning on getting one, but don’t know much about how to go about it. Then this article is the right article that will help you go about your decision.
READ ALSO: How Travel Insurance Work
With the current outbreak in coronavirus, getting a travel insurance plan have proven itself to be worthy of getting. Its very important you get a travel insurance plan for any country you are planning on travelling to or from. This is clearly because you don’t know what to expect from such trip and anything can happen that requires emergency intervention. It is very important that you have a travel cover and this cover serves as a protection to cover you when you get sick on your journey but also to cover any damage or loss of the belongings you are traveling with.
Travel insurance is designed to cover any unexpected cost or emergency that you might encounter on your trip. With the help of travel insurance, you are sure to have a level of confidence and peace of mind when you step out on a journey.
In this article, we are going to show you some common types of travel insurance available as this will help you choose the right insurance plan for you depending on the circumstances.
Before we dive deep into what we have for you today, let’s look at a list of what we will discuss here.
What Is Travel Insurance?
Travel insurance is a cover that protects you against certain financial risks, losses or damages that can occur while you are traveling. The losses could range from medical emergencies, loss of belongings, last-minute trip suspension, replacement of lost passport or stolen passport and many more.
One thing you should know about the travel insurance is that it is designed to cover unforeseen and unplanned events, things that are not within your control and you cannot see. Travel insurance varies by plan depending on what you think fits you, your budget and travel plan.
The travel insurance plan will not cover every situation. The travel insurance will only cover those events that are listed in the policy you purchased. This means that its important you specify all the events you want it to cover when making the purchase.
Different Types Of Travel Insurance
There is a wide range of travel insurance plan for you to choose from and what we will discuss here will help you choose a travel plan that suits you and what you can afford. A typical travel insurance plan is sold as a package which is called the comprehensive plan which has a range of coverage.
Let’s look at some of the common types of travel coverage…
Trip cancellation, interruption and delay
Trip cancellation is when something very important happens that will prevent you from going on a trip you planned for, an example of this is unforeseen medical problem. Trip interruption is when you are already on your journey and something happens that cuts it short, such as a family member’s medical emergency back home or a workers’ strike at an airport. Generally, your travel insurance company is expected to reimburse you only for the portion of the trip you did not complete. Also note that terrorism threats fall under this umbrella, but some plans only pay if you are scheduled to arrive within a set number of days before the incident takes place.
Baggage and personal belongings
This type of travel insurance plan reimburses you for baggage and personal belongings that you lost, stolen or even damaged during your trip. Some of these plans also reimburse you for extra expenses if you experience a baggage delay for more than a certain period of time.
Your personal belongings cover could be under your renters or homeowners insurance and you might not need to include it in your travel insurance and so you do well to review your homeowners or renters insurance to be sure if your personal belonging is cover in that insurance policy.
Travel medical insurance
The two primary types of medical travel insurance policies we have are short-term medical and major medical coverage. Short-term policies can cover a traveler from five days to at least one year, depending on the policy they have chosen. Major medical coverage is for travelers who are planning to take longer trips ranging from six months to one year or longer.
Medical insurance coverage can help you with medical expenses, help to locate doctors and healthcare facilities, and also assist in obtaining foreign-language services. As with other policies, coverage will vary by price and provider. Some travel insurance also cover airlift travel to a medical facility, extended stays in foreign hospitals, and medical evacuation to receive care.
Rental car cover
This if for people that rent cars when they travel at least for tour and moving around. Have you asked yourself this question? what if this car gets wrecked? This is where your insurance cover comes in. The rental car coverage will cover the repair of your rental car if it is damaged by natural disasters or some other reasons.
The insurance plan does not include medical treatment for others or damages to the vehicle of others if you are responsible for the accident.
When you are purchasing your travel insurance policy, it’s important that you ask your insurance provider or company if your insurance covers tenting cars on your trip.
Emergency medical assistance, evacuation and repatriation
This insurance comes in when you get sick or injured during your trip. This coverage is designed to pay for your medical expenses and also the medical evacuation pays for transporting you to the nearest available hospital. Lastly, the medical repatriation will handle your flying back to your home country.
Accidental death and dismemberment insurance
This insurance plan is more like a life assurance policy for traveling and just like the life assurance, it pays a good amount of money to your beneficiary if you die in an accident while on a trip. This insurance plan is for people that depend on you as they get compensation for your death.
The insurance coverage might also pay a portion of money to you if you lose any part of your body.
It’s important you check your insurance policy to make sure you are not paying for something you are already benefitting as you may have the accidental death and dismemberment insurance through work.
This insurance type has many packages in it and you are provided with a hotline that you can call on anytime you need help as most travel insurers cover a wide range of services like finding a lost luggage, booking a flight after a missed connection, providing help with restaurant referrals and so on.
How To Get Travel Insurance
Travel Insurance companies offer a range of travel insurance plans which includes different benefits and benefit limits depending on what fits your need and budget. To get the best plan for yourself, you will have to get a quote for your trip and you might be required to input your age, cost of trip, date and also means of transportation after which few plans will be recommended for you and then you can compare the costs and benefits of each.
Depending on what you need, you can decide to choose your insurance plan and if you are the kind of person that is budget-conscious, you can choose a plan that includes coverage on trip cancellation, trip interruption and trip delay.
You can also decide on a plan that offer protection in case of medical emergencies when you travel and this plan might not really include trip cancellation or interruption benefits.
Lastly, you can consider the annual travel insurance if you plan to travel on a regular basis as it will offer you with an affordable protection for a full year of travel and might also include trip cancellation and interruption benefits. This plan can also come with other packages like rental car, baggage delay and emergency medical care also it also depends on the insurance provider.
Travel agents and travel reservation sites
Travel insurance can be gotten when you book your flight, hotel or rental car. It is quick, easy and the process is simple to purchase and also less expensive when you book reservations. But one thing about this is that you cannot customize the coverage.
Travel insurance companies
Another method is going through a travel insurance company to get travel insurance and with this, you can choose a policy that fits your needs better. You will also get a better understanding on the travel insurance as these companies give better information to clients.
One disadvantage of doing this is that you will have to go through variety of websites to compare the available coverage and prices too.
Like we mentioned above that some credit cards offer you trip cancellation and also rental car cover if you use them to book the trip and the coverage is free.
One important disadvantage you should note about the credit card is that you cannot customize the insurance to meet your needs better.
Travel insurance comparison sites
Also note that you can also compare different insurance policies and review quotes you can find on different sites depending in the trip search criteria you inputted, with this you get to choose a policy that fits your travel demands and also compare policies and prices too.
Where to buy the best travel insurance
Just like we also say to our clients, its very important you compare insurance policies from different insurance providers as this will help you find the best travel insurance policy that fits you.
To help you acquire the best insurance policy that fits your need, we have gathered a list of some travel insurance comparison sites where you can compare and shop for the best quote. They are: