Five Items You Should Check Before You Buy Travel Insurance

Written by Christian B Padillo

There is no one-size-fits-all travel insurance product. Finding the best travel insurance package depends on your needs as well as your budget. The more coverage you need for your insurance policy, the more expensive it gets.

To start, you would normally need protection for lost baggage or luggage, medical fees for injuries or repatriation in case of death abroad. If you think you need additional coverage during your trip, ask your travel insurance company about the best way to maximise coverage according to your budget. In this post-Covid world, you certainly would want to get travel insurance to protect yourself from anything that can happen while you’re traveling.

No matter what kind of travel insurance package you get, make sure you take note of the following considerations to help you with your buying decision.

1. Review your 0ther insurance policies

You might have other insurance like a health plan that covers some of the health-related incidents that may happen to you during your trip. If you could opt out of this coverage in your travel insurance policy and save, do so and save yourself some money.

You don’t need multiple policies because hospitals can only claim from one insurance company per bill.

You can also check your credit card provider and see what kind of travel insurance policy they provide with your subscription as many travel rewards cards come with free travel benefits including a built-in travel insurance.

2. Check the insurer’s global affiliates

Check if the company is connected to affiliates abroad so that you can easily get help you in case you find in a travel emergency outside the country.

A local representative in the country you are in can be a great help to attend to your needs better. Check if your travel insurance company is affiliated with facilities that would be more than capable of handling any type of emergency.

3. Self-assess your eligibility

Ensure that you are eligible for travel insurance. Age, type of travel and period of travel all play a part. Also make sure that for the specific trip you’re going to do, your travel insurance will cover everything you need.

For example, if you are going on a business trip and would be using a vehicle, it would be best to get insurance that covers any damage to rental properties. Some would even cover ransom requests if you think you need it during your travel.

4. Read through fine print

Check for exclusions or the incidents that your insurance company may not cover any possible untoward incident that may happen to you while out of the country. See which activities are not covered by the policy as well as incidents, such as natural death or suicide, that will not be covered in the event that they occur during travel.Some insurers allow you to cancel with a refund but charge a fee while other insurers may only allow you to cancel within a certain time period. If you have bought an annual plan, the refund will likely be pro-rated.

The terms vary from one insurer to the next so remember to read the fine print!

5. Keep the insurer’s emergency assistance details

Find out how you can contact your insurance company via phone, e-mail, fax, or any other means of communication so that you can contact the insurance company easily in the event of an emergency.

Our comparison table is one easy way to compare travel insurances.