Should you get travel insurance?
Travel insurance is a decidedly
misunderstood topic. New and seasoned travelers alike come across myths which
often lead to either inadequate or no insurance whatsoever. Granted, there are
some trips that do not require insurance. However, travel insurance covers
luggage loss, air ticket refunds, medical problems, your current insurance etc.
As such, the decision should be influenced by a personal risk assessment.
How adventurous are you? Where are
you going? What is the likelihood you will need it? Will you be content without
it? Consider these things to make an appropriate decision.
Basic Facts about Travel Insurance
Travel insurance mainly covers
lost luggage, cancelled or interrupted trips, health care, flight accidents and
body transport or evacuation. Usually, the more common mishaps will be
available in a package of some kind. There is also a full care package that
entails every form of travel insurance offered. You will have to ask
specifically for a specific type of coverage if that is all you are looking
Costs between travel insurance
agencies vary dramatically, taking anywhere from 5% to 12% of your total trip
costs. This variance is dependent on age, the cover package, number of
travelers and length of the trip. Typically, age is considered most important,
with increase in rates from the age of 60. Minors, on the other hand, add less
or no cost to the insurance. Thank fully, you can get more information on this
My Trip in addition to comparisons
on actual insurance cover.
Some of the best travel
insurance benefits are applicable within particular time frames. The earlier
you apply for it the more benefits apply.
There are two ways in which
your insurer can take care of your problem. Either pay for the bill prior to
resolution, or, reimburse you. Some covers only reimburse, so you had best read
the fine print prior to purchase. If further assistance is required, contact
the actual insurance company for clarification lest you get misinformed.
Ultimately, different insurance packages are
best suited to different trips. Choosing the lower priced package over coverage
can leave you under covered. Always be sure to read the fine print.
As a precaution, always take pictures
of your belongings prior to the trip. For most reimbursement claims, there is
proof required prior to actual payment.
As a rule of thumb, getting
insurance directly from the insurance company is best practice. However, if you
intend to use a carrier, you should look up their history, because the
financial standing of your carrier also plays a part in your insurance coverage
The world of travel and insurance is
in flux, due to factors like travel
advisories, industry trends and at times government bureaucracy. However,
that is merely a guideline in terms of actual travel. With regards to travel insurance,
the best way to go about it is compare, compare, compare. Matthew Kirsten, author
of Expert Vagabond says it best. “No one likes to
think about theft or injury when they’re on vacation, but the threat is real.”
Travel insurance is simply a way to safe guard yourself.