Travel insurance is one of those things you might not think about straight away when you’re preparing for a trip, but it’s essential for traveling with full peace of mind. In a dream world, nothing would or could ever go wrong on holiday! But the reality is that unfortunate circumstances do come up, and if you’re not prepared, your entire holiday and financial stability could be derailed. Travel insurance can save you not only money but major emotional stress.
Insurance plans for travelers very depending on a number of factors. What is the age of the traveler? What is the value of their luggage, and what type of traveling will they be doing? How risk-averse are they? Will they be skydiving on their trip? These kinds of questions all come into play when you select a travel insurance plan.
Here are some tips for picking the right travel insurance for you:
1. Make sure the company covers the areas you’ll be traveling
This might seem obvious, but it’s important to double check that you’ll be covered where you’re going, especially if it’s somewhere off the beaten track.
2. Make sure your plan covers any existing medical conditions
If you have any pre-existing conditions, you want to make sure that you’ll be covered by your insurance plan.
3. Find out about refund policies and cancellation waivers
Check out what the refund policy is on your plan if you decide to cancel. Many companies will refund you if you give them a few months notice, but very few will refund you anything for a last minute cancellation. A cancellation waiver means that for a fee, cruise or tour operators may reimburse a portion of what you’ve paid if you cancel your trip.
4. Compare plans and read the fine print
With so many different policies and plans out there, make sure you understand the basics of the different types before you go with one. Read the fine print to understand exactly what is and isn’t covered in your plan. Don’t rely on what the agent might tell you; read it for yourself.
5. Buy from a licensed agent or website
The last thing you want is to waste your money on a plan that’s totally bogus. Make sure you buy your travel insurance from a reputable source. Check the license number or ID if you can find it, and just make sure you do your research to find something legitimate.