A guide to buying and using travel insurance

Do you really need travel insurance?

Traveling is expensive enough now, isn't it? The cost of airfare, cruises, hotels, ground 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 I can. Is travel insurance a necessity or a luxury? Why not cut a few corners here and there. Why buy something if you really don't need it?

My personal answer is, of course, that I am not independently wealthy and cannot withstand the potential financial losses I would suffer if I needed medical help while traveling. Not being rich independently also means that I am in the market for adequate but inexpensive travel insurance. I suspect you are in the same situation, so you also need cheap travel insurance. If you are still not sure about this, consider the following.

Did you know that if you become ill or are injured while traveling abroad, your medical plan may not cover all the expenses you will incur? If the cost of treatment is higher than the maximum of your medical plan, you will be responsible for the difference, unless you have 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 applies to everyone, regardless of age or length of time abroad. Suppose you get sick just a few hours after you arrive at your destination. Or suppose you make a day trip to another country and are injured in a car accident. Or suppose one of your children is part of a group that makes a great trip abroad, gets nutritional poisoning, and requires hospitalization. In any case, without proper travel health insurance, you will be responsible for spending above and beyond the limits of your existing medical plan.

Therefore, before you go abroad, you need to make sure that you are adequately covered by the health insurance that wins your budget. You need to make sure that appropriate coverage is already available to you through your medical plan, employee benefits or even a credit card. If the coverage is sufficient for your needs, then you can enjoy your trip without incurring additional travel insurance costs. However, if you are unsure of your coverage or if your coverage is insufficient or non-existent, your next step should be to research and purchase the travel insurance coverage you need.

How much can you expect to pay?

When I bought my first plane ticket to China a few years ago, it cost about $ 2000, and my travel insurance cost me over $ 500 because I didn't shop for cheap travel insurance 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 I bought my travel insurance for my second trip, I purchased online and received the necessary coverage at the right price. If I purchased my travel insurance for this last trip from my travel agent, it would cost me about $ 600 for the trip and my plane tickets cost only $ 1500! Not exactly the smart way.

So how much will it cost you? Not as much money as it will cost if you get sick or get injured abroad and have no travel insurance coverage! This is the obvious answer to the question.

In fact, how much travel insurance costs will depend on your age and the type of coverage you choose. Basic policies cost only $ 5.50 for $ 1,000 coverage. On the other hand, you can expect a full coverage policy to cost you 7 to 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, however, it is certainly much lower than the cost of a medical evacuation!

The good news is that you can easily, conveniently and quickly research and find great but inexpensive online travel insurance and cut costs while making an informed purchase. This is much better than getting what you are offered at a 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 looking is at Travel Insurance Central, (http://www.travel-insurance-central.com)

What You Should Consider When Buying Travel Insurance

To help you research, here are some suggestions to help you make an informed purchase.

1. Consider the worst case scenario. If you can handle the worst-case scenario financially, then you may not need travel insurance or you may not need a comprehensive policy.

2. Make sure the policy you are considering provides adequate medical / dental coverage, including medical evacuation coverage only if you need medical attention at a place where the best treatment available is below the standards you are accustomed to in your country. This can happen if you get sick in a developing country or even on a cruise ship.

3. Check your existing insurance policies for possible coverage. There is no point in paying more for what you already have in your homeowner 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. Sometimes they are called multi-trip insurance policies. Whatever the name, these shelves can be relatively cheap compared to single-trip shelves.

5. Know what you are buying, so read the fine print. Make sure you understand what the company considers to be a legitimate cause for cancellation or interruption. If the list is too restrictive, you may want to consider another policy.

6. Don't limit yourself to buying only from your travel agent. He / She will probably only have one company product (s) available and it is there for your convenience, but that convenience can be quite expensive!

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

8. Do not buy insurance through your carrier. If the airline goes bankrupt, how adequate will your insurance coverage be?

After you have purchased your travel insurance

Remember that your travel insurance policy covers you between certain specific dates, so don't start your trip early or extend your trip without first changing the coverage dates of your travel insurance policy. Sure, it may cost you extra, but it's cheaper than going uncoated when you need it most.

In addition, it is almost not understood that you should carry your travel insurance with you when you go abroad. You cannot consult the rules if you are sitting at your desk at home. Also, wherever you go, you need to bring your phone number for free help and other contact information for your insurance company. It is not helpful if you become ill or injured and the necessary policy information sits in your hotel room. It is also a good idea to bring your regular medical records and information with you.

I hope these tips help you with the best travel insurance for you. Then take your trip with the peace of mind that you know you are insured with the right travel insurance policy at the right price. Bon Journey!