Most people go on family vacations every year but the thought of travel insurance is far from their minds. They ignore or overlook the importance of travel insurance as they never think that anything untoward can happen to them during their vacations. But the reality is that a good percentage of travelers face some problem of this type or another that can include lost luggage, delayed or cancelled flights, and so on. Travel insurance can give peace of mind while travelling. But with prices and features of travel insurance policies varying so much, it can become very confusing for an individual to choose a policy.
Always Make a Comparison
Never make the mistake of the first travel insurance policy that an agent comes across with. With so many products being sold by so many companies, it is prudent to compare the features and prices as well as cover offered by them before finalizing a good travel insurance policy that suits your requirements.
Look at the Cover
This is the most crucial aspect of a travel insurance policy. You would not want to pay for cover that you do not need or one that does not apply in your case, do you? Following are some of the important covers provided by most travel insurance policies.
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Medical emergencies (expenses related to medical help that you might need)
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Transportation cost in case of medical emergency
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Expenses because of travel delays (accommodation and travel)
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Purchase of essential items because of delayed baggage
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Theft of baggage
Cost of the Policy
It is surprising but travel insurance products offered by different insurance companies vary greatly in cost. But the thing to understand is that the more your investment in a trip, the higher would be the premium you will be asked to pay. You can get the cost lowered by opting out of few of the cover features that you think you do not need.
Check Out if Your Home Insurance Policy Covers Some of Your Requirements
Most home insurance policies provide cover to possessions that you carry along with you while travelling. There is no need to include these items when buying a travel insurance policy. Some credit card companies also provide basic travel insurance covers it is better to check them out before buying travel insurance policy.
Do You Travel More Than 3 Times in a Year?
Many insurance companies offer an annual travel insurance product to people who travel 3 or more times in a year. This kind of policy proves to be much cheaper than a one-time travel insurance product. You can save hard money if you opt for an annual cover rather than buying a travel insurance policy every time you travel.
Beware of Age Limits and Medical Exclusions
Most travel insurance products do not pay for any existing medical conditions. If you are over 65, you may not get paid for medical expenses during a vacation if you have not talked about them with your insurance company.