Tips for Buying Travel Insurance
Travel insurance plans should be acquired from well-known insurance firms and not just run-of the mill agencies. Avoid spending a huge sum for a policy that does not give adequate coverage. An insurance package normally costs between 5 to 12 percent of the total price of your airline tickets.
Here are some suggestions that will help you in deciding whether to buy and what kind of insurance to acquire:
- Take a look at the existing policies that you have and see their specific coverage. Certain health insurance plans already cover medical emergency situations even outside the United States. On the other hand, some homeowner policies and credit card providers also cover loss of passenger luggage, accidental death, dismemberment, and medical assistance. You can enjoy these perks by simply using your credit card to buy airline tickets.
- Verify the coverage of your regular medical policy before getting travel medical insurance plans. Find out what is covered and what is not particularly when you travel out of the country. Some countries in the Western hemisphere offer exceptional social medical care. You may not even be charged for any medical care that you avail of compared to most developing nations which do not have sufficient medical expertise and facilities.
- People who travel often every year will find it more practical to get hold of annual insurance instead of individual plans for every tip. Annual travel insurance plans are also recommended for those who go to underdeveloped countries frequently. Yearly policies have provisions on medical evacuation, death, loss of body parts, and treatment expenses for accidents and natural ailments.
- It is more economical to purchase group insurance like plans for the entire family rather than individual policies. Read the terms with care especially with respect to the coverage and the absence of pre-existing medical conditions. The basic rule is that any medical concern that comes up within 60 days before procuring the policy is not covered.
- Loss, pilferage and delay of baggage protect the passenger who also gets paid if his or her belongings are overdue for more than 12 hours after arrival at a certain destination. Flight delays and cancellations answer for cost of hotel rooms or lodging, meals and new travel arrangements. Passengers are advised to read and understand the contents of their policies.
- For elderly citizens, the cost of buying travel medical insurance plans may be too costly. Before you decide to get such a plan, compare the premium of this policy with the more comprehensive trip-cancellation plan. This kind of insurance comes with medical and evacuation coverage which can be quite expensive. Ask the help of competent travel agents to help you out with this alternative. Besides, these travel medical insurance plans usually cover emergency situations and not the regular conditions.
For some people, travel insurance is useful but for others it is more of a financial burden which is not worth acquiring. The question is, do you need the policy or will your regular insurance plan be enough? If you are willing to take the risk, then you can do without this service. If not, start asking around from insurance providers so you can make the proper decision before you fly out of the country.