Travel Insurance – Worth It?
Whenever you go abroad, it is important that you take all the precautions necessary to keep yourself and your traveling companions safe from harm. One of the most vital services to sign up for would be a travel insurance policy. This article will explain to you more about travel insurance and how to choose the right one.
There are two types of insurance you need to consider. The first is primary, which covers you both before and during your trip. Secondary only kicks in if you have already tried to collect from private insurers first. It is important that you know which type of insurance you are buying before you sign up for any policy. You may even find that some of your coverage is primary while other coverage is secondary! While primary coverage is more expensive, you will find the ability to easily and quickly file a claim is worth it.
If you plan to take a cruise, they will likely offer you insurance as part of your vacation package. That said, it will be secondary coverage, meaning you will have to try to collect on your private medical insurance first if you are injured or sick, or your homeowners insurance if your luggage goes missing. On top of that, it isn’t very comprehensive and offers very little in the way of coverage. Read the fine print before you sign up for these policies as you may be paying a lot of money to get nothing if something bad does happen.
If you want to find a licensed, trustworthy insurance company to buy your policy from, check out USTIA.org. The US Travel Insurance Association only lists companies which are licensed to operate within your state. Once you have a list of options, visit BBB.org to check out complaints against them and see if they work hard to resolve those negative situations. If they aren’t listed nor have a huge pile of unresolved complaints, cross them off your list and move on to the next company.
Now that you have a short list of companies, it is best to comparison shop. The first step is to call each and ask what sort of coverage they offer and how much each type will cost, including the additional fees for additional coverage. Get the information in writing so that you can easily compare the quotes you are given, plus you have proof of what you were offered if you decide to use that company and they later offer you higher rates.
It is best to sign up for your policy when you make the deposit on your trip. If you wait too long, you may be ineligible for a pre-existing conditions clause. If you develop any issue within 6 months of your trip, you won’t be covered for it when it comes time to leave.
Travel Insurance: Safety Comes First
Travel insurance doesn’t just help you out if you are injured or become sick in a foreign country. If your cruise is cut short, it will pay for hotel and transportation costs. If you fall ill before your trip, it will pay for your cancellation fees. If you miss a connection or are delayed, it will pay for any costs you encounter. Lost luggage replacement costs, medical bills, travel agent or tour operator defaults, disaster, war, evacuations and even job loss will all be covered by your insurance, saving you when things are at their worst.
When you buy insurance, remember that it will only cover you unless you buy insurance for everyone over the age of 17 in your party (children are covered when one adult is on the policy.) That said, if someone in your party is the reason you have to cancel a trip or that you incur additional costs, such as your child being hurt before you leave or your best friend losing their job so that you are left to foot the entire cost of the trip, the insurance covers your cancellation fees. Remember that you are only covered if your travelling companion is affected, not if they cancel the trip because their loved one has an issue.
There are some extra coverage options available to you when you sign up for the policy. For example, you can add the option of canceling for whatever reason you wish, but ask how much reimbursement you get in this situation as sometimes it is only half of what you paid. You can also be covered in the case of an airline accident, rented car collision, or emergency evacuation. The latter allows you to be flown out of a country and back home to receive medical treatment. They fly to you with medical staff, no matter what is wrong with you, and bring you wherever you wish to go. Even if this is the only coverage you get, it is totally worth it.
Travel insurance doesn’t just protect you; it gives you peace of mind. When you have less stress, you’ll be better able to enjoy your trip abroad. Use these tips and be sure to sign up for travel insurance before you set foot outside of your home country.