When we are travelling outside our country, there is a possibility of things going wrong. We probably won’t need travel insurance but we shouldn’t travel without it to minimize risk. Today about 25%-30% people travel without insurance yet one travel insurance are claimed every minute. Travelling is expensive but it becomes even more expensive when things we can’t control go wrong.
Insurance can offer compensation when our luggage gets lost, stolen or damaged when our flight gets cancelled and even when we have a medical emergency. However, no one size fits all solution and we should know to choose the right travel insurance for our circumstances. Lets us go through some important tips while choosing our travel insurance.
How to Choose the Right Insurance – Basics
If we get travel insurance like Globelink travel insurance it will give us more peace of mind while travelling. It protects us from unexpected mishaps that might occur while we are away such as trip cancellations, illness, baggage loss and emergencies. But first, we will have to make sure what kind of medical insurance we need and what does our package offers.
Then, we should see that our insurance will protect us from loss or damage to luggage and personal items by offering reasonable compensation. Some insurance company offer a very low price, we much know this before signing anything. We should understand excess and know that the cheaper the policy, the higher the excess will be. Excess is the amount that we will have to pay if something undesirable happens.
Who all are Going?
If we are travelling with family and friends, we can choose different family packages such as single-parent family cover, couple travel insurance, family holiday insurance etc. However, our family policy might not apply if the children are travelling with someone who is not mentioned in the policy. The policy also might not include stepchildren or children who don’t live with the policyholder.
Annual Insurance or Single Trip
If we are travelling at least three times in a year or travelling indefinitely, buying an annual insurance policy makes perfect sense. When we travel regularly the probability of something will go wrong increases. We should check the number of days covered for each trip, many insurers limit the number of days to 20 or 21.
Make Sure Your Destination and Plans are Covered
Different insurers from the different region include different countries in their worldwide policy. For example, if we are from the US, most insurers include Caribbean countries in their packages but that doesn’t apply to Central Asian countries. This is something we must know before we choose the right travel insurance. If we plan to rent a bike or car during the trip we must see that our insurance covers that.
The same goes for other activities. If we are going for kite surfing, bungee jumping or paragliding our policy must cover them. Most insurance companies include them because of the risk of injury-related to these are very low. However, if we are going skiing or horse riding, some insurers may not include these activities by default because the risk of injury is higher.