I know. I don’t like having to buy travel insurance either.
And I don’t even like talking about it or having to do research and compare the best travel insurance companies.
It’s never an exciting topic, I’d much rather just talk about planning a trip with my kids and grandparents.
But you are here now, and before I get into my tips for buying the best travel insurance policy, let me just say this,
Cloud computing, also known as on-demand computing, is a kind of Internet-based computing that provides shared processing resources and data. Cloud Computing, cloud hosting cloud server.
“If you can’t afford travel insurance, then you can’t afford to travel”.
It’s that simple.
Let’s face it. You don’t hesitate at purchasing car insurance when you buy a car, or house and contents insurance when you buy a home. So why not travel insurance??
Honestly, buying travel insurance can be so cheap it’s a no-brainer. Peace of mind is priceless!
I would much rather spend an extra $100 or so for our trip and most likely never use the insurance than wipe out my bank account if something did happen.
Call it what you like – vacation insurance, trip insurance or holiday insurance, not having insurance is not worth the risk. Anything can, will, and sometimes goes wrong. If it does and you are not insured, you can be up for a lot of money AND inconvenience.
WHY YOU SHOULD BUY TRAVEL INSURANCEImagine this.
The excitement of your travel departure date is just around the corner, you’ve saved up all your hard earned money, paid for your flights and accommodation, tours are booked, clothes are packed, and your spending money is just waiting to be spent.
What happens if:
- You need to cancel your trip unexpectedly
- A hurricane damages your destination
- There is a terrorist event
- You get sick or injured on your trip
- Your luggage is lost or stolen
- You lose your passport
I bet the mother whose daughter drank a cocktail filled with chemicals in Bali and had to be flown back to Australia at a price of $50,000 would have loved to have had travel insurance.
When Caz got struck down with tick-bite fever in South Africa and had several hospital visits we’re glad we had travel insurance.
And that time when US immigration lost all our passports in the US, we thought insurance was pretty useful as it saved us from forking out half a grand on replacements.
On our trip to Thailand when we left our computer unattended briefly and a cheeky 2-year-old Savannah slammed it down and killed it, we were glad we had insurance – saving us $1,500 to replace it.
Better to be safe than sorry, as they say! And for us as a traveling family, there is nothing we want more than to know our children can travel with us somewhat secure.
I don’t want to have “I can’t afford the medical bills that can save my child’s life” hanging over my head.
If you are a traveling American, or someone visiting the US, you should definitely NOT skimp on travel medical insurance. Health care costs in the U.S. are ridiculous. So large that people go bankrupt.
TIPS FOR BUYING THE BEST TRAVEL INSURANCE POLICY
1. FIRSTLY, WHAT EXACTLY IS TRAVEL INSURANCE?Basically, travel insurance is designed to cover unexpected medical emergencies and events such as trip cancellation, your personal effects, lost, stolen or damaged luggage by an airline, and other related losses incurred while traveling.
Which travel insurance is best for you? There are different levels of coverage depending on:
- the plan
- the insurance company you purchase with
- the size of your deductible (excess)
Some policies offer lower and higher medical expense options; the higher ones are chiefly for countries that have high medical costs, such as the United States!
Travel insurance is not intended to be a substitute for your health insurance policy in your home country. Whilst there is a medical component in your travel insurance policy that can cover a sudden illness or accident, the level of that cover depends on what plan and provider you choose!
2. WHAT AND WHO ARE YOU INSURING?Which travel insurance policy is best for you? Make sure you know what your needs are and your situation:
- Where are you traveling to?
- How are you traveling? Flights, rental cars etc. Required coverage will change depending on this
- What activities will you be doing – Skiing, ski diving, or other adventurous activities?
- Length of trip
- Who are you traveling with—single, couple or family?
- Value of the goods you are taking with you
- Risk aversion
3. IMPORTANT CONSIDERATIONS
EXTENT OF COVERAGEDoes the policy cover indemnity only for medical expenses incurred abroad, or can you also obtain reimbursement for medical treatment continued in your home country?
PAYOUT TIME AND REQUIREMENTSDoes the contract require you to submit a written report of the incident within a reasonable time? What supporting documents are you supposed to attach to your claim?
AMOUNT OF PREMIUMAre you paying for the right coverage or can you upgrade/downgrade as needed to something that you’re more comfortable paying for?
AVAILABLE UPGRADESHow much will it cost to extend the insurance to your baggage? How much to include items that you might buy abroad, such as furniture or paintings?
ALCOHOL AND DRUGSMany policies will be null and void if something happens while you are under the influence of alcohol or drugs!
WHAT ISN’T COVERED?Most policies do not cover:
- Sport and adventure activities with a high risk
- Travel to high-risk countries
- Pre-existing medical conditions
- Separate insurance can be purchased for an additional cost for those.
CHECK THE EXCLUSIONSTravel insurance policies will have a list of exclusions they won’t cover you for. E.g:
Severe weather conditions or natural disasters
Acts of god (think Icelandic volcano causing travel chaos)
Acts of war, terrorism, uprising or civil commotion
Choose a travel insurance policy with the least exclusions, and pay attention to them when reading an insurance policy.
Ensure you declare any pre-existing medical conditions you may have.
Failure to do so may nullify all coverage. Many policies will not cover pre-existing medical conditions and you may have to purchase an add-on to cover you for this.
Be very vigilant in knowing the medical exclusions and conditions for your policies. You do not want to get caught out, especially in countries like America where just one doctor’s visit can cost you close to $300. You’ll faint if you hear the price of a hospital visit there!
5. SHOULD YOU GET TRAVEL INSURANCE FOR DOMESTIC TRAVEL?
6. ANNUAL POLICY OR SINGLE TRIP COVER?
8. HOW TO REDUCE TRAVEL INSURANCE PREMIUMS
CHECK YOUR HOME INSURANCE POLICY
BUY DIRECT AND ONLINE
TRAVELING IN A GROUP
FAMILY TRAVEL INSURANCE
9. CHEAP TRAVEL INSURANCE
10. VEHICLE AND MOTOR BIKE HIRE
11. WHAT IF I AM TRAVELING INDEFINITELY?
12. WHAT IF I LIVE AND WORK IN ANOTHER COUNTRY?
13. COVERING EXPENSIVE GEAR
14. CANCELLATION POLICY
15. PAY ATTENTION TO GOVERNMENT WARNINGS
BEST TRAVEL INSURANCE COMPANIES
- Buy, extend and claim online even after you’ve left home.
- Cover for tech gear
- Cover for a range of adventure activities
- Engaged travel community on social media
WHAT I DON’T LIKE:
- Has a fixed excess price of $200
- Only $500 dental