There are a variety of travel insurance policies available to you. Your personal insurance carrier, credit card company, travel agents and specialists offer various forms of travel insurance. Sometimes your car or health insurance or loans already cover travel insurance related to your vacation. Well, this raises the question of when you should make sure and which ones to choose.
There are three main types of travel insurance. The first type is medical coverage. For health insurance, make sure you review their rules and terms for age limits. Some insurance policies charge higher fees for seniors. Medical coverage includes medical and dental expenses incurred due to injury or illness.
Medical evacuation, which covers your transportation to a hospital if you are injured in a remote area and need a helicopter, is usually included. However, you can also purchase a standalone policy.
Meanwhile, an accidental death and dismemberment policy behaves like any life insurance policy that pays your beneficiary a certain amount upon death.
The second type of travel insurance is the travel protection policy. It can be purchased for a single trip or annual multiple trips. This insurance consists of three main parts: Cancellation coverage, delay coverage and trip interruption coverage.
The first will cover your covered expenses back – if you have to cancel your trip due to illness or if a family member is sick or dies. The second deals with transportation delays. In the event your flight is delayed due to snow, your prepaid hotel costs are covered. The last type is used in case you get sick while away and want an interruption policy.
The third type of insurance is protection from luggage or rental cars. It covers your rental car in case of an accident and your luggage and personal belongings are lost, damaged or stolen. Note, however, that most policies of this type do not cover in-flight loss or damage and overly expensive items.
With this type of travel insurance, make sure you read the rules and conditions. Sometimes your personal auto insurance can cover such coverage. Also, look for policies that provide not only financial protection, but also travel assistance.
Once you have all the types of insurance offered and what you need, the next question is how to buy one that allows you to maximize the benefits. The first thing you should do is to determine all the policies and conditions that are covered in your current insurance policies and credit cards. Strictly check all your insurance policies if they still cover you if you are traveling abroad.
Make sure your expenses are covered upfront and you will be reimbursed later on. Make sure you understand the deductible and coverage limits very well. Also, look for travel insurance offered along with your trip by a travel agent. Most of the time these are more expensive.