Whether buying your first travel insurance policy or wanting to ensure you have the right coverage, it’s important to read the fine print. Yes, travel insurance protects you against unforeseen events, like trip cancellations or medical emergencies overseas. However, reading the policies thoroughly and considering the pros and cons before taking your trip is always a good idea. Reading the fine print is essential in any contract, as the following travel insurance tips will explain.
Do You Need Travel Insurance Coverage?
Don’t Forget Health Insurance
Health insurance is one of the no-brainer travel insurance tips. It is essential for travelers of any age. Not only does it cover the cost of treating any medically necessary emergency while you’re abroad, but it also provides peace of mind by ensuring that you have access to immediate and proper medical care when it is needed. A good travel medical insurance policy will also come with a robust customer service team so that should any mishaps occur, you’ll be taken care of quickly and efficiently.
Most international health insurance policies offer various benefits, ranging from basic preventative measures to more substantive therapies for major ailments and bodily injury. Remember, your plan should have a clearly defined network of doctors and hospitals in your destination country. If not, you may incur a significant cash outlay for the best treatment available. The best way to find out is by checking with your provider before you go! Be sure to get several quotes before making a final decision.
Check Your Credit Card Coverage
While many credit card companies offer travel protection and travel insurance benefits, you should always read the fine print before using these features. Often, these coverages may be limited to specific countries or only available for a short period of time. Some cards offer trip cancellation and interruption coverage, which reimburses you for nonrefundable costs if your trip is canceled or interrupted due to certain covered incidents, like illness, weather, or terrorist attacks. This benefit generally covers you and any eligible family members who are traveling with you.
In addition, some credit cards offer rental car insurance, which reimburses you for certain expenses if the vehicle is stolen or damaged during the rental. However, this coverage may not include liability coverage, which helps if someone sues you for injuries or property damage caused by the car. If you’re looking for a credit card with travel insurance, check your cardholder benefits guide or the card’s website for details. In general, higher-tier credit cards tend to provide more robust coverage.
Consider Optional Extras
A comprehensive travel insurance policy will usually cover you for most things that can go wrong. Still, some insurers offer a wide range of optional extras that will help to protect you against the unexpected. These include everything from a free night of hotel accommodation to the best way to cancel your travel plans. Most of these options can be added to your policy for a small premium, which can make all the difference in the event that something goes wrong.
The best way to find out is to make a side-by-side comparison of all of the available options. The trick is to find a plan that offers the right mix of coverage for your needs at the right price. That may be in the form of a combination of standard and optional extras or a one-off cover that includes all the most important aspects of a comprehensive travel insurance package. A multi-trip policy can be the best choice when traveling with the family.
Read the Fine Print
Whether you are booking flights, reserving a hotel room, or signing up for travel insurance, it is important to read the fine print. It may seem like no big deal, but this is the most crucial of all travel insurance tips! It can save you money and help you avoid paying extra for something you didn’t know was covered or had a limit on. In fact, one high school teacher from Georgia won a $10,000 reward for reading the travel insurance terms and conditions to the end.
That was courtesy of Squaremouth, a Florida-based insurer that had inserted a clause promising the first person who emailed them after reading the policy’s fine print would win a prize. While most people won’t even think about this, it is important to do so when buying any product online. That includes flight tickets, hotels, travel insurance policies, and credit card purchases. It’s also a good idea to read the terms and conditions of your health insurance too, especially if you have any pre-existing medical issues.
Travel Insurance Tips Recap
Having peace of mind is an important part of vacation planning. If you’re in the market for travel insurance, it pays to shop around for the best rate among legitimate insurance providers. These four points are a good place to start in securing the best coverage:
- Heath Insurance Checkup
- Check Your Credit Card
- Consider Extras
- Read The Fine Print
Please drop us a note in the comments if these travel insurance tips help save you money and provide you with extra confidence while traveling on your next vacation. And remember, always read the fine print!