Almost always, while planning trips, we conveniently forget about travel insurance. It’s often looked upon as an unnecessary expense, since people think ‘What can possibly go wrong on a trip’? Truth be told, there is no dearth of things which can go wrong while you’re travelling. That too, without so much of a warning. You could lose your baggage, misplace your passport, have your wallet stolen, fall sick during your trip, etc. etc., the list goes on.
Travel insurance is no longer something that should be overlooked. It can become a financial cushion in case an unexpected expense befalls you during your trip. However, don’t just book any travel insurance policy. Like any other insurance product, choosing the right policy requires time and research. So, before you settle on a particular policy to cover your trip, here are a few things to keep in mind.
Ensure you’re Not Already Covered
Before you get around to choosing a travel insurance policy, check with your existing insurance provider. Sometimes, your life or medical insurance policy might cover you for short trips made overseas. In case you are making a brief trip abroad, you could probably forgo purchasing a new travel insurance policy, as your existing insurance provider might provide sufficient cover.
Look Around Before Settling On A Policy
It might be easy and hassle free to just buy the insurance your travel agent, tour organizer, Holiday Company or travel website is offering. However, resist the temptation. Look around for other insurance providers and the deals they are offering. This will give you a chance to choose policy which is tailor made to fit your needs, not just for the current trip but perhaps also for your future trips. You are also more likely to find a policy which might be economical and provides better coverage as well.
Don’t Delay Booking Your Travel Insurance
Book your travel insurance policy soon after you’ve booked your trip. This is because, most travel insurance policies come with a Cancellation Cover which allows you to cancel the policy in case the trip is cancelled or you can't go forward with the trip due to an unavoidable reason. However, the cancellation cover does come with a bunch of sub-clauses and terms, so read it carefully before choosing the policy.
Before You Buy Insurance, Evaluate the Level of Cover You Need
Before you choose a particular policy, always evaluate the level or amount of coverage you require for the trip you are undertaking. Depending on the duration of your trip and the activities you have planned, choose the coverage accordingly. For instance if you are taking a leisurely trip with a where there isn’t much sightseeing or activity involved, you could choose a policy with lower coverage as compared to a trip where you have a host of thrilling yet risky activities planned like hand gliding, bungee jumping, etc. The latter would obviously all for a policy with a higher and wider coverage for the type of risks involved. Also, in case you are planning on adventurous activities, do go through the fine print of the policy to check whether or not he activities you are about to undertake are covered.
Declare Any Pre-existing Medical Conditions
Before purchasing a policy, declare any pre-existing medical condition to the insurance provider. This could result in two possibilities, which are, either your premium could increase be hiked or the insurance could simply turn down your request for the policy. In case you do not declare your medical condition to your insurer but following the trip, end up making a claim concerning the pre-existing condition, it is more than likely that your claim will not be considered valid.
Consider Multi-Trip Policies, Policies For Couples / Families
Do you make frequent or multiple trips abroad in a year? If so, then a multi-trip travel insurance policy could be beneficial for you. You could save substantially not only in terms of money but also time, over purchasing multiple single trip policies. Also, if you are travelling as a couple or on a family trip, it is economical to purchase a bundled travel insurance policy as a couple or for a family.
Look For Feedback Online & Offline
No one can give you better feedback than an actual user. Visit online forums where customers have posted feedback about the travel insurance policies they are using. You will get a fair idea about how effective and true to its word the policy is. Ask your family and friends about the policy they have chosen when they were travelling or if they have any recommendation regarding policies.
No matter where we may be, the threat of the unknown always looms over our heads. Travelling is something which is best enjoyed stress-free. And travel insurance ensures just that.
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