A guide to travel insurance

Travel insurance options are vital for those travelling beyond their home country, whether for business or pleasure. There are numerous policies available, some catering for short term holidays and some that cover frequent travel for business purposes, as well as other different policies.

The type of policy you’ll require relies entirely on your circumstances and your individual requirements. One of the most effective ways of finding the best policy for you is not to approach insurance companies directly, but to work through a third party such as an insurance broker. This way you can get the best deal.travel insurance double-barrelled travel

What type of options do insurance companies offer?

When you’re searching for travel insurance, every individual will have their own needs and wants.

Some needs might relate to security, while others could place healthcare as more important.

The variations on travel insurance policies differ greatly depending on the nature of the insurance and how the policy is structured. Some of the common elements include helping with flight or accommodation cancellation, travel curtailment and emergency medical expenses.

There are also elements related to costs incurred by lost baggage delays. When dealing with travel insurance, it becomes clear that there isn’t a one size fits all policy.

Bespoke policies are generally best for all involved. These consider the destination you’re visiting, along with the length of your stay, and whether you’re there for business or pleasure.

They also include any country-specific requirements, for example, medication for malaria.100-ziotych-addiction-capsules-47327

The elements required in a policy and the cost of the premiums are affected by such issues and it works for both the customer’s benefit and that of the insurer’s that these issues are cleared up from the start.

No one wants to believe that their holiday or business trip is going to be affected by problems, but it happens more often than you think. Having comprehensive travel insurance can help if you have a medical emergency in a foreign country. It also prevents you from having to deal with the stress of finance in addition to the stress of the health concerns.adventure-backpack-blue-sky-844528

Travel insurance mistakes to avoid

Insurance for travel is of paramount importance, no matter whether you are going on your yearly vacation with your family, or you are travelling abroad for any important meeting.

Under no circumstances should you ever travel without insurance in place. Below, we are going to take a look at some other mistakes to avoid when it comes to travel insurance.

One of the biggest mistakes people make is forgetting to renew their annual policy. Unfortunately, a lot of travellers do not realise this until it is too late, and they are on holiday and something bad happens.

Another common error is assuming that your travel insurance policy covers all destinations. Even if you purchase a ‘worldwide’ travel plan, you still need to look at the list of countries that are included and excluded to get the true picture.

A lot of people also make the error of failing to declare pre-existing medical conditions. They do this because they fear that, if they tell the truth, they either will be forced to pay higher premiums or they won’t be accepted for the travel plan at all.

However, this is not a risk that is worth taking. If the travel insurance provider finds out that you have been hiding the truth, your insurance plan will become void, which can leave you in a sticky situation. Finally, do not assume that all insurance companies are the same. Take the time to find a reputable insurer with a good name in the industry.adventure-blur-close-up-346885

Shopping for travel insurance via brokers

Finding the best travel insurance can often come down to luck – unless you choose to find your next insurer through a broker.

You may think brokers will cost you more money in the long run, but this is not the case when it comes to travel insurance.

For instance, some insurance companies will only insure travellers going to particular areas or, more commonly, will refuse to cover citizens travelling to certain countries.

Travel brokers can save you time

Approaching insurance companies on an individual basis can be a time-consuming activity and may ultimately result in no successful policy.

On the other hand, a broker will know which countries are served by which insurance policies, thereby saving you time.

It’s also true that insurance brokers can get better deals on travel protection insurance. This is because they deal with insurers every day and are trusted to only refer the most suitable clients to insurance companies.beach-cliff-clouds-1168742

None of the parties – company, broker or individual – benefit from an unsuitable or unsatisfactory policy, and so shopping through a broker can save everyone unnecessary stress.

If you need travel insurance in a hurry, operating through a broker can actually save time. While insurance companies may not answer the phone to you, they’re more likely to respond to a broker as they’ll be aware they’re getting a good lead and not just a query.

Do you have any tips for finding the best travel insurance? Let us know in the comments below!



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18 comments on “A guide to travel insurance”

  1. Richard Hunt Reply

    I have been insured with Travelguard (AIG) for my frequent travels of 2 to 3 months at a time. Unlike World Nomads that has an age cutoff of 65–I am 75. Travelguard does not. I get the annual Business Travelers insurance for $259 per year. Good for trips up to 90 days at a time at least 100 miles from home, and they paid my baggage loss claims quickly, delayed bag coverage and medical injury quickly provided I had the purchase receipts for all items and service.

    You can no longer order online on their website. Instead, you have to call them at 1-800-826-4919. This insurance is called Business Traveler–you don’t need to be a business person though. You can check out the coverages on their site and most important is the $500,000 Emergency Evacuation and $50,000 Accident and sickness medical expenses.

    • Richard Hunt Reply

      With my Traveguard insurance I described above, it will cover you once you are at least 100 miles from home and up to 90 days at a time. For example, I live in Seattle, WA and when I was hiking the Pacific Crest Trail near Ashland, OR, I sprained my ankle, hitched to the hospital, and had to take a taxi from the hospital to the hotel then rent a car to drive from Ashland, OR back to Seattle. Travelguard covered the cost of the taxi ride and the rental car. My regular Blue Cross insurance covered my trip to the Ashland hospital.

  2. Merry Johnson Reply

    Thank you for the valuable advice. The mistake of covering worldwide and apparently not checking is very common. The word ” worldwide” relieves us in our unconscious mind.

  3. Fred Reply

    I travel a decent amount for work and I never put much thought into travel insurance. That was until I broke my foot overseas this year and it was a very costly lesson to learn. You are spot on, I’m never traveling overseas without insurance again and thank you for the tips!

  4. cooler Backpack Reply

    I love the travel broker recommendation. I will try this method now 🙂

  5. Betty Reply

    My dream is to travel the whole world and visit the places I never been to. However, I realized why the places I have been into asked to purchase travel insurance before I travel. Yeah, now I learned from some blogs like yours the importance of getting one.

  6. Zoe Campos Reply

    I definitely agree that each individual has their own needs and wants especially when it comes to insurance. I only travel overseas, so I’m hoping that I can get a coverage that only involves traveling to other countries. It might be a good idea to look for some independent insurance agencies that we can find near me and inquire about their offered premiums.

  7. Henry @ Gpsinvest Reply

    In our experiences, the reasons we have had to consider cancelling trips tend to be things that weren’t covered reasons for cancellation. We have paid for insurance before but don’t usually do so anymore now that we have read the fine print. But yeah – if I ever had a really expensive once-in-a-lifetime trip, I probably would get coverage even though it is unlikely we would ever use it.

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