Guide To buying Travel Insurance.

The excitement starts to creep in. The adrenaline high is at its peak. The hotel stay, the airline tickets are booked. The tours have been set and now you have just enough money stored away to travel in luxury for the coming 15 days of your long awaited dream vacation.

We human beings are generally very positive in nature and we do not allow any negativity cross our minds in joyous occasions. Hence we often do not prepare for plan B. We just make sure that Plan A is perfect and that we have checked the list a million times.

The unforeseen events can happen anytime, anywhere, so why not be prepared?

  1. Insure yourself for peace of mind
  2. Protect yourself against the unexpected.
  3. Cover your trip investment.

There are many things that could go wrong which is not in your control:

  1. Someone might fall ill and you need to cancel your trip, losing your entire vacation investment.
  2. A hurricane or a natural calamity damages your resort and you need to cancel.
  3. A family emergency cuts your vacation short and you lose the remaining travel arrangements.
  4. You have unfortunately had an accident in a foreign land and have to be rushed to a hospital.
  5. You need to be airlifted to a hospital far away.
  6. Stolen luggage and lost medical prescriptions.

And the list can just go on and on.

To guide you to buy the perfect travel insurance you will need to consider the following:

  1. Check medical cover: Hospitalization expenses, medical evacuation, pre-existing ailment covers.
  2. Passport cover: If your passport gets stolen or lost, the expenses to get a new passport will be covered.
  3. Baggage cover: Once your luggage is checked in, it’s the flight carrier’s responsibility. In case of loss or delay beyond 12 consecutive hours of checked in baggage because of the flight carrier, your travel insurance covers the expenses.
  4. Cover of trip cancellation: This covers for trip cancellation due to outside factors beyond your control and not by your doing.
  5. Compare travel insurance quotes: There are many travel insurance companies and many attractive quotes available. You need to choose which quote caters to your needs the best.
  6. Existing travel insurance: Many times we do not realise that we might be having travel insurance covers already existing with us. Many credit cards benefits include travel coverage, employer sanctioned health plans, club/ organization memberships, Medicare gap policies etc.
  7. Choose the best travel insurance company: Their ratings are based on their financial stability.
  8. Choose between single/multiple trip policies or annual policy: It depends on your frequency of travel. If it’s a one major trip annually, a single trip policy is perfect. If its 2 to 3 trips annually, an annual travel insurance policy is recommended. If you are travelling in a group, a group insurance policy is an affordable option.
  9. The tour operator or your travel agency could also be offering you travel insurances. Be mindful to check if the insurance covers you and for your benefit rather than the benefit of the travel agent.
  10. There are many travel insurance coverage in the market. Taking travel insurance quotes are highly recommended and choose the one which best fits your requirement and budget.

Wishing you a very happy, stress free trip and peace of mind to begin with!

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