If you’ve never needed it, travel insurance can seem like one of those unnecessary add-on costs that you always so no to, but in reality, having travel insurance can be incredibly beneficial. Of course, you may pay for it sometimes and never need it, but in those times, you do need it you’ll be glad you went for it.
If you’re new to the concept, it can be confusing to know how to get started and how to choose the right plan for your needs, so below are some tips.
Do Some Research
There are quite a few things you can do before you even start comparing the specifics of travel insurance plans.
First, find out what level of coverage you already have. A lot of credit card companies provide various travel coverages, and you want to make sure you’re not doubling up on coverage. If you have coverage from your card company, you can use travel insurance as a way to fill in the gaps. The same goes for homeowners insurance.
Then once you’ve determined what you have versus what you need, you can start thinking about looking at travel insurance reviews to create a list of companies with a good history of customer service.
Types of Insurance
There are a lot of different types of insurance. For example, trip cancellation coverage will provide reimbursement if the operator of your trip goes out of business, or you have to cancel for a set of specific reasons, such as being sick.
There are options for trip delay and interruption if you have problems with flights as an example, and then there are also package options that will cover all three.
One option that you usually have to pay extra for, but that’s probably well worth it is cancel for any reason coverage. This is usually an extra protection offered by travel insurance companies, and it will reimburse you for the majority of the cost of your trip regardless of why you didn’t go.
You want to choose a great company, and many of the best travel insurance companies tend to not only have good reviews and a strong reputation, but they also offer certain things. For example, they will provide coverage for nearly any country you go to, and they offer options if an emergency happens while you are abroad. Some policies will even cover smaller things such as lost or stolen electronics while you’re traveling.
It’s also important that as much as you know what is covered that you also know what isn’t. For example, a lot of companies will only cover up to certain limits, and you may not have coverage for a pre-existing condition.
If you’re going to be participating in high-risk activities while you’re away, you might also not be covered unless you choose a plan that specifically covers these activities.
Finally, when you’re comparing travel insurance options make sure you always read the fine print. If your biggest goal with travel insurance is to protect yourself if you get sick and cancel or end your trip before you’res scheduled to, make sure you go with trip cancellation and interruption coverage.