Travel insurance may be the only thing that keeps you going when the unexpected happens. But with so many travel insurance companies out there, how do you choose one that is right for you? The following tips can help you choose the best travel insurance company possible.
Not all travel insurance companies are the same
Don’t assume that travel insurance companies are all the same. They don’t have to offer the same coverage options, so it’s important to shop around to find the coverage you need at the right price. Look closely at the pre-existing conditions clauses. Many companies will provide coverage for “pre existing conditions,” but this term can vary greatly among different travel insurance policies. The best travel insurance companies will reimburse you totally for medical costs, luggage loss, missed connections, evacuation to another country and much more and all at a cost you can easily afford.
Another important consideration is emergency evacuation and emergency medical service coverage. Most people automatically think of air travel when discussing emergency evacuation, but it’s also important to consider ground travel in emergency situations as well. Not all plans are created equal. Some provide less helpful information or worse yet, actual costs associated with emergency evacuations and emergency medical services. If you’re unsure about which plan is the best for you, contact the customer service center of the travel insurance company you’re thinking of buying from to find out.
Find out all you can about the travel insurance coverage provided
If you’re uncertain about whether you’ll be able to participate in your trip or if you’ll need to cancel or change your travel plans, find out all you can about the travel insurance coverage provided. If you have allergies, asthma or other pre-existing conditions, look for a plan that specifically covers these conditions. If you’re taking medication, check to see if the medication will be covered in your plan. Also, look for plans that cover other expenses incurred while taking your medications. The bottom line is, even if you’ve done the research, the last thing you want is to find out your medication will not be covered in your travel insurance.
There are other details that could affect your decision about whether or not you should purchase a policy, such as the impact on your credit rating and potential penalties if you cancel your trip. Even though a good portion of these policies does not have any negative impact on your score, if you’re planning on applying for a loan or paying for a significant sum of money during your trip, you’re probably not worth it. Travel plans with these additional costs attached aren’t worth the extra cost.
The best travel insurance plans often fall into the mid-range range
Another detail to consider is the purchase price of the plan. Since this can vary greatly between different companies and travel plans offered by each, the best travel insurance plans often fall into the mid-range range. The range of a policy is typically six to nine-day trips. You’ll find that most of the mid-range policies provide the same benefits, such as medical assistance in emergencies, rental car assistance in case you experience an emergency, coverage of your overnight accommodation, and trip cancellation assistance.
If you frequently travel to areas with active outbreaks of viruses or epidemics, you may want to consider an upgrade to a VIP insurance policy. VIP plans offer more extensive coverage and reimbursement for illness or death. For example, a three-day supply of vaccines is included in most VIP plans. An outbreak of a disease that requires daily injections of a life-saving drug would be covered under the VIP option. Your family’s health in the event of illness or injury is also covered under the VIP option, which could make this type of policy well worth the additional cost.
In some cases, a small increase in premium is all that is needed to ensure that you’ll be able to afford the coverage that you need. If you have pre-existing conditions, you may have to decline some perks in order to receive the price reductions offered. For example, if you have asthma, you will likely have to decline coverage for trips to destinations where asthma is widespread. Travel insurance policies don’t just give you coverage when you experience an accident or develop a medical condition, though. You can also take advantage of the seven corners of travel insurance.