Did you know that only 4 in 10 Americans buy travel insurance for international trips?
The excitement of your impending vacation abroad can leave you forgetting the important planning. What happens if you lose your passport? Or, what if you get injured while you’re away?
It’s important to make sure you’ve got the best travel insurance to prepare yourself for the worst-case scenario. But, with so many different policies and companies, it’s not easy knowing which is the right one for you.
So, check out our tips below to help you!
1. Are You Already Covered?
Your existing insurance may cover foreign travel too. This could be either through your employer or bank.
You may find that your home insurance policy provides you with cover for lost items while you’re away as well.
Even though this may not be enough, it’s good to know about before you shop around for the best international travel insurance. For example, revisit your medicare supplement plans to see if you’re covered for international travel.
2. What’s Covered by Travel Insurance?
You can purchase travel insurance to cover everything from jet skiing to sky diving.
You need to determine what kind of travel insurance you need. Are you taking your RV with you or are you backpacking?
Let’s just concentrate on the basics for now:
- Medical Emergency: the most important part of your travel insurance is your cover in case of medical emergency.
- Lost, Stolen or Broken Property: you need cover for your luggage and valuables, such as cameras, laptops, and smartphones.
- How Much is the Excess: if the policy has an excess of $100, a claim of $700, then the insurance company pays $600.
- Cancellations: your policy needs to cover you for cancellations of flights, hotels, and excursions.
It’s important to be aware of cheaper insurance policies which offer you low coverage for a cheap price.
For your excess is $1000, and your most expensive personal item is worth $100, you throwing money away.
3. The Length of the Cover?
You don’t need to purchase new travel insurance every time you go abroad. You can also purchase annual travel insurance, which can cover you for several vacations during the year.
You need to assess how many times you’re planning vacations abroad per year. You can choose between single or annual insurance cover.
4. Not Every Destination Is Covered
Your travel insurance policy may cover you for France but no Australia. You need to make sure you’re covered for the destination you’re traveling to.
5. Always Read the Small Print
If you don’t bother to read the small print on your travel insurance policy, then you might find an expensive surprise on your return home.
You need to check that you’re covered for the activities you intend to do while you’re abroad. If you’re not covered for horseriding, then don’t take a last minute decision to risk it.
The Best Travel Insurance for You!
You can’t help it if your flight gets canceled or you injure yourself on vacation. However, you can make sure you’re not out of pocket as a result. Follow our tips for finding the best travel insurance policy so that your vacation is worry-free.
Do you want to read more travel advice to prepare you for your next vacation? Check out our blog here!