Choosing the best travel insurance for a stress-free vacation

• By admin
• October 4, 2021December 4, 2021
• With 1 comment

You may have booked a long-awaited trip somewhere special as travel corridors continue to open up worldwide. If you’ve been longing for a sun-drenched beach holiday or yearning for a cultural city break, then it might be worth considering travel insurance.

Investing in good travel insurance can bring welcome peace of mind in these uncertain times. Travel protection could save you thousands of dollars in the long run, not to mention time and stress if the unexpected happens.

Whether you’re planning a work trip, solo excursion, or big family adventure, choosing from the wealth of travel insurance companies and plans on offer can be daunting. Here we breakdown:

• When you need travel insurance and what type to choose
• How cost is calculated and how to pay only what you need
• Tips for the best experience with travel insurance companies

Before you pack those bags for your unique getaway, let’s take an in-depth look at what you need to know about travel insurance.

Understanding travel insurance coverage

Travel insurance is a billion-dollar industry where companies fiercely compete to win the top spot. With so much choice at your fingertips working out which travel insurance companies to trust can be confusing. So, where do you start?

What travel insurance typically covers

From flight cancellation, delays and property loss to medical and other expenses, the major areas covered by travel insurance are:

• Trip cancellation: Life throws curve balls at us, and having trip cancellation insurance from an insurer like Mexiplas International could be the crucial safety net you need. It can cover unexpected illness, injury, family sickness and bereavement, potentially reimbursing you 100% on prepaid, non-refundable deposits with ”cancel for any reason’’ coverage.
• Medical: This is important insurance for overseas travel as your local health plan may not cover medical treatment. These policies often include limitations and exclusions for preexisting conditions, but cover doctors, hospital, and ambulance bills.
• Emergency evacuation or repatriation: Crucial if you’re off the grid or traveling to remote locations (think trekking through the Amazon Jungle or climbing Mount Kilimanjaro) where medical care might be hard to find. If you’re injured or get sick you’ll need to get to an adequate medical facility ASAP, or a flight home for treatment.
• Car hire insurance: Renting a car can bring significant financial risk. Car rental insurance allows you to enjoy your trip worry-free. Check whether insurance includes liability protection. This will pay for damage to other vehicles or medical treatment for others if there’s an accident.
• Loss of property: This coverage reimburses you for baggage or personal belongings that are lost, stolen, or damaged during a trip.
• Travel delays: Mammoth flight delays and cancellations can mean missed connections or leave you stranded. With insurance, you can be reimbursed for meals, accommodation, and transport expenses.
• Accidental death: A worst-case scenario, this insurance pays your beneficiaries a lump sum, supporting them should the worst happen.
• COVID-19 travel: A new type of insurance on offer is COVID-19 travel insurance. Some policies cover you if you contract the virus right before the trip, during your trip, or on your return. Check the small print to ensure you’re getting what you’ve been promised from your provider.

What travel insurance doesn’t usually cover

Now that we know what your plan can cover, it’s just as important to know what isn’t covered. Much depends on the policy and insurer you go for. Some features may only be available at an extra cost. Generally, plans don’t cover:

• Adventure and extreme sports such as hand gliding, bungee jumping, whitewater rafting, and skydiving. You’ll need to buy a special travel policy if you’re an adrenaline junkie
• Alcohol or drug-related incidents
• Carelessness with possessions e.g., leaving them unattended or in plain sight
• Recklessness (varies from company to company)
• Pre-existing health conditions
• Lost or stolen cash
• Civil unrest that makes staying in a country unsafe, but your government hasn’t announced an evacuation
• Pandemics, earthquakes, and acts of terrorism

What factors affect the cost of travel insurance

First things first, think about your destination – what are the risks? Will there be appropriate health care? These are areas that affect what you pay:

• Length and cost of the trip: the longer and more expensive the trip, the higher the policy cost.
• Cost of local healthcare: high costs at your destination can drive up the price of trip insurance.
• Medical conditions: conditions you already have will increase the cost of travel insurance coverage.
• Amount and scale of coverage: the more risks a policy covers, the more it will cost.
• Your age: generally, the older you are, the higher the price.

Where to get the specific coverage you need

Before you launch into travel insurance research and sign on the dotted line, check to see if you’re covered already:

• Credit cards: Booked a trip or rental car with your credit card? Trip cancellation and car insurance are sometimes included in your purchase. You might need to take out additional insurance to guarantee you’re fully covered for your trip.
• Homeowner insurance: See if your renters’ or homeowners’ insurance covers loss of property while on vacation.
• Life insurance: Speaking of insurance, dig out your life insurance policy (if you have one) to see if you’re already covered for accidental death.
• Travel agents and reservation sites: When you book a flight, hotel, or car through an agent or reservation site you can often add travel insurance. Note though that you usually can’t customize it to suit your needs.
• Travel insurance companies You could try travel insurance companies like Traveler Assistant Services to find a policy to fit your trip requirements. Check out multiple websites to compare coverage and pricing.
• Comparison sites: Using your trip criteria, compare travel insurance policies, provider, and pricing in one place. These sites often show the best travel insurance deals with customer reviews.
• Travel associations: Another great way to find the best insurance, travel associations give up to date advice on travel protection. The Association of British Insurers (ABI) represents over 200 insurance companies in the U.K. and the U.S. it’s U.S. Travel Insurance Association (UStiA). With all these options you may still need to take out additional travel insurance customized to your vacation needs, to ensure you’re fully covered.

Tips for the best travel insurance experience

Where you go and what you intend to do affect the type of insurance you’ll need. These are common mistakes to avoid to get a quick turnaround when placing a claim:

• Don’t exaggerate your claim: Whatever your claim, you want to be reimbursed pronto. Don’t embellish the details, it’s travel insurance fraud and you don’t want to land in hot water. Keep to the facts and get your claim accepted, not denied.
• Documentation for loss: Keep all official documentation safe (resort invoices, flight tickets, receipts, medical bills etc.) as you’ll need it to back up any claim.
• Maximum limits and small print: Sometimes plans aren’t as beneficial as they initially appear. Every plan has specific limits for each benefit shown in detail. Triple check them to be on the safe side.
• Don’t wait to file a claim: Fill in your claim quickly and correctly making sure all copies of your documentation are included, or you may miss out.