Comparing Single TripInsurance Policies
On one hand,is no longer the simple, limited product of the now-distant halcyon days of the pre-9/11 world. On the other hand, the new available upgrade options and features, especially with the ubiquitous single trip insurance packages, can be a bit overwhelming and might actually mislead you into getting something that not only you don’t need, but also do not provide the coverage your travel requires. To avoid the ensuing hassle and to keep you focused, here are three simple, straightforward reminders to choosing the best package for you.
First Step: Check the Extent of your Existing Coverage
If you have a credit card, it is likely that the card company provides a complimentary single trip travel insurance coverage along with your usage of their credit card. The same thing goes with your existing health or home insurance-it is common for insurance companies to throw in travel cover for good measure. But what you’re probably not sure of is whether or not the said complimentary insurance is actually useful or sufficient-as complimentary products go, these ‘freebies’ are often grossly insufficient or merely provide nominal protection. At best, different insurers provide different specialty coverage. For instance, credit card companies provide protection for lost luggage, while health insurance plans provide protection from health-related claims. Check to find the gaps and fill them by getting stand-alone cover, which at this point should be very cheap.
Second Step: Check out Different Policies
As much as possible, get single trip travel insurance quotes from at least three insurers, assuming you’ve narrowed down the candidates to the most reliable companies backed with good customer recommendation. While the industry is a highly competitive one, you can still expect different insurers to have widely different price offers vis–vis their offered inclusions and coverage. There is a way to make this choice easy: write down all the features you need from your cover and choose only the insurers that offer all these features-then it’s all a matter of who’s offering them at the most reasonable rates. Then you decide. Remember, though, often your current age plays a significant role in the eventual price, so take that in consideration.
Third Step: Exhaustively Check What the Policy Actually Covers
It is easy to take for granted the features included in a single trip travel insurance package-most people see a multitude of extras thrown into the package and they stop asking questions and generally assume they have all that they need. Do not make this mistake: based on your actual planned activities and excursions, check if it actually provides coverage for those specific parts of your trip. For instance, if you’re going to Hawaii, verify with your insurer that you’re still covered if you decide to go hiking, for instance. Remember there are many inexpensive policies but some have very strict limitations. Weigh the cost-to-benefit ratio of your actual policy before making the decision-often, you will have to pay extra if you really need to have that windsurfing activity covered.
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