Chances are if you are planning a vacation, then you are looking forward to adventure, relaxation and fun – not medical emergencies, accidents and theft, but life is often unpredictable. Choosing travel insurance can bring you peace of mind so that you can enjoy your trip, but how do you purchase a policy that covers everything you need without costing so much if you have to cancel your plans?
Do a little research to find out what type of travel insurance you need before even looking at policies. Take a look at what is covered under your homeowner’s plan, your major credit cards and your primary medical insurance. Your homeowner’s policy may reimburse you if your luggage gets lost, but it will not cover any travel-related problems such as cancellations. You also need to be aware that your primary medical policy will more than likely not cover you if you leave the country. Travel insurance companies offer policies that will not only cover any medical expenses you may have, but also emergency transportation home if needed.
Types of Travel Insurance
Travel insurance policy premiums are generally based on your age and the length of your trip although some are based on a percentage of your trip cost. Travel insurance companies offer four types of travel insurance: short term, long term, expatriate, and foreign national. Short term or single trip travel insurance covers trips of up to 90 days, long term or multi-trip coverage will cover you for up to a year, expatriate coverage is for those who choose to live overseas, while foreign national insurance covers those who are not US citizens.
Elements of Coverage
Travel insurance companies offer several different coverage options for you to choose from. Many companies allow you to mix and match from among their most popular features. These features often include emergency medical care, medical evacuation, lost baggage, trip cancellation, repatriation of remains and sometimes even legal aid.
Like any other type of insurance policy, travel insurance companies also have exclusions that you need to be aware of before you purchase a travel insurance policy. Activities which are considered high risk are generally not covered. The most common exclusions are pre-existing medical conditions, sports activities such as rock climbing and scuba diving, war and suicide.
Choosing the Right Travel Insurance Companies
Choosing the right travel insurance companies is just as important as choosing the right travel insurance policy. Make sure that you do your research before making such an important choice. Check out travel insurance comparisons and choose companies rated “A” or better by A.M. Best. it’s worth your peace of mind.