How to buy the right travel insurance for your trip
What was once considered as an added expense has now become an essential part of any travel. We are talking about travel insurance, which has evolved over years to become an important aspect of your trip planning. There was a time when people considered it negative as insurance essentially means all things negative – theft, loss of baggage, missed flights, illness, terrorism or even death. Also, people argue what are the chances you will need one or can I not take a risk? The answer is your reply to how much peacefulness while travelling means to you.
Travelers now understand the importance of travel insurance. It is so much more than just medical protection. As people have become more aware of the importance of travel insurance, it has become more complicated.
What to look for intravel insurance?
An ideal insurance for travel will offer basic coverage at rational price. However, finding the right one for you is a complex process. There are so many insurance carriers to choose from and each offer an array of plans that makes choosing your plan no walk in the park. This is why you need to have a basic idea about the coverage you should look for in your travel insurance. Trip delays, lost baggage, theft, medical emergencies, terrorism and other crises are usually covered by travel insurances.
Travel medical insurance
There are two types of travel medical insurance: primary insurance that replaces your existing medical insurance and secondary that adds on anything your primary insurance doesn’t cover. Based on the amount you insure, the policy and what it covers may vary. Depending upon where you are traveling, you can choose insurance and the amount it covers.
Trip cancellation insurance
This policy helps you get a part of your money back in case you have to cancel your trip. The reasons valid vary with insurers. Some insurers let you cancel if you get laid off or suffer from an illness. You need to know the reasons the policy covers because that could be the difference between an accepted claim and a denied one.
Where to buy travel insurance?
You can buy your travel insurance in a number of ways. You get it from your travel agent, a third party broker, insurance company or a tour operator. When it comes to insurance companies, they can offer you a range of plans. Be sure to choose a company that is reliable. Travel agents and tour operators will offer only selective premiums and you may have to pay broker’s insurance. Also, insurance sold by them may be incomplete or not be furnished with all the necessary information. Third-party brokers may give you a better idea about the plan you need as well as give you a variety of choices.
When to get a travel insurance?
It is better to get your travel insurance as soon as you book tickets for your trip. This is because the pre-existing waiver is applicable as soon as your trip is booked. While some insurance companies, give you 14 days after you book the ticket to get the waiver, most companies give only a day’s time. If you are a frequent traveler, you can choose annual polices that are cheap and offer coverage for multiple trips.
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