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A guide to buying and using travel insurance

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Is Travel Insurance Really Necessary?

Travel is expensive enough, right? The cost of airfare, cruises, hotels, land transportation, food and activities and entertainment are already high enough. I don't know about you, but I work hard for my money, and when I travel, I want to keep as much of my money in my pocket as possible. Is Travel Insurance a Need or a Luxury? Why not cut corners here and there. Why buy something if you don't really need it?

My personal answer is, of course, that I am not independently rich and cannot bear the potential financial losses I could suffer if I required medical assistance while traveling. Not being wealthy also means I'm in the right travel insurance market, but cheap. I suspect you are in the same position so you also need cheap travel insurance. If you are still unsure, consider the following.

Did you know that if you became ill or injured while traveling abroad, your medical plan may not cover all the costs you incur If your treatment costs are greater than the maximum for your medical plan, you will be responsible for the difference, unless you've already purchased travel insurance. In fact, you may not even be admitted to hospitals in some countries without proof that you have health or medical insurance.

This is true for everyone, regardless of age or length of time abroad. Let's say you're sick a few hours after you reach your destination. Or suppose you take a day trip to another country and you are injured in a traffic accident. Or suppose one of your children is part of a group that visits overseas, has food poisoning, and requires hospitalization. In all cases, without proper travel health insurance, you will be responsible for costs beyond the limits of your existing medical plan.

Therefore, before traveling abroad, you need to make sure that you are adequately covered by travel health insurance, which will not meet your budget. You need to check if there is adequate coverage already through your medical plan, employee benefits or even a credit card. If the coverage is good enough for your needs, you can enjoy your trip without the extra expense of travel insurance. However, if you are unsure of your coverage, or if your coverage is inadequate or non-existent, the next step is to research and purchase the travel insurance coverage you need.

How much can you expect to pay?

When I bought the first airline ticket in China a few years ago, it cost around $ 2000 round trip, and my travel insurance cost me over $ 500, because I didn't buy cheap travel online.

A few years later, a little older and wiser, and my travel insurance for another trip to China cost me much less, about $ 300, for about the same coverage. The difference? Before buying my travel insurance for the second trip, I shopped online and got the coverage I needed, at the right price. If I had purchased my travel insurance for this trip from my travel agent, it would have cost me $ 600 for the trip, and my plane tickets would only cost $ 1,500. Not exactly the longest way to go.

How much will it cost? Not as much money as it will cost if you are ill or injured abroad and have no travel insurance. This is the obvious answer to the question.

In fact, your travel insurance expense will depend on your age and the type of coverage you choose. Basic policies cost up to $ 5.50 per $ 1,000 of coverage. On the other hand, you can expect a comprehensive coverage policy to cost you 7-10% of the cost of your trip, depending on your age. The older you are, the more you will pay. No matter what the cost of the policy is, it will certainly be much less than the cost of medical evacuation.

The good news is that you can easily, conveniently and quickly research and find great but cheap online travel insurance while making an informed purchase. This is much better than taking what is offered by the travel agency because you can choose from hundreds of travel insurance companies and policies and save a lot of money in the process. One place you can start your search is at Travel Insurance Central, (http://www.travel-insurance-central.com)

What to consider when buying travel insurance

To help you with your research, here are some tips to help you make an informed purchase.

1. Consider the worst case scenario. If you can financially resist the worst case scenario, you may not need travel insurance or you may not need a full policy.

2. Make sure the policy you consider provides adequate medical / dental coverage, including medical evacuation coverage in case you need medical care in a place where the best treatment available is below the standards used in your country. This can happen if you fall ill in a developing country or even on a cruise ship.

3. Check for any existing insurance policies. There is no point in paying more for what you already have in the landlord or tenant policy, such as theft and loss coverage.

4.If you are a frequent traveler, you should consider annual or year-round travel insurance policies. These are sometimes called multi-travel travel insurance policies. Whatever the name, these policies can be relatively inexpensive compared to single-trip travel insurance policies.

5. Know what you buy, so read the fine print. Make sure you understand what the company considers a legitimate reason for termination or disruption. If the list is too restrictive, you may need to consider another policy.

6. Don't just restrict yourself to buying from your travel agent. You will probably only have company products available and it is there for your convenience, but it can be expensive.

7. Ask lots of questions about coverage. Play the "what if" game. Ask for clear explanations of the terminology. Make sure you and your travel insurance company speak the same language.

8. Don't buy insurance from your carrier. If the airline goes bankrupt, how appropriate will your insurance coverage be?

Once you have purchased travel insurance

Remember that your travel insurance policy covers you between certain dates, so do not start your trip early or extend your trip without first changing your travel insurance policy coverage dates. Of course, this can cost you more, but it's cheaper than finding yourself out of coverage when you need it most.

Also, it goes without saying that you should take your travel insurance with you when you go abroad. You cannot consult the policy if you are sitting at your desk. You also need to bring with you the toll free telephone number and other contact information for your travel insurance wherever you go. It is useless if you get hurt, it hurts you and the necessary policy information is sitting in the hotel room. It's also a good idea to bring your usual medical cards and covers.

Hope these tips will help you through the best travel insurance. Then go on the journey with the peace of mind that comes with knowing that you are getting the right travel insurance policy at the right price. Good trip!

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