So you read my last article and decided to buy travel insurance? Great. The next step is to compare travel insurance offers. It’s not as easy as it sounds. So here I am again with nuggets of advice for you to select a good insurance deal for travel.
Table of Contents
Keep reading as the tips are coming below:
Understand the coverage
This holds true not just for travel insurance, but for all insurance types. Because insurance coverage is limited, you must know your needs and your reality. Here are the important questions you should be asking yourself:
Where am I traveling to? Should I drive or take a flight? What fun activities am I going to indulge myself in once I am there? How many people are going with me?
If it’s a solo trip, the premium would be low. Budget travelers may be interested in this. Most insurance for travel offers is for couples or families, so good luck finding one for a person single traveling. If your plan is sightseeing and nothing else, you can quickly find a desirable travel insurance scheme. But if you are traveling to a sea sight for enjoying scuba diving, snorkeling, and paragliding, the premium could be high as these are all risky activities.
Simply put, the coverage is a variable. So is the premium rate. If you are traveling to a nearby place, for a small duration and not pining for an adventurous trip, the premium would be affordable.
Is it upgradable?
Do ask this question to the insurance agent. It all depends on his answer. If he answers in the affirmative, the policy is worth buying. If he answers in the negative, forget it and look for another plan which might be worth paying money for.
But what does it mean for a travel insurance scheme to be upgradable? It means the coverage could be extended in the future. Sometimes, an insurance policy for travelers only covers indemnity for the medical cost that one incurs abroad during their trip. But a little bit of bargain and more insights into the company’s policy guidelines (agents are often hesitant to reveal the full scope of the coverage) can give you a better deal.
However, the fact that some travel insurance policies are upgradable doesn’t indicate you can include high-risk activities under the coverage on a later date. What you can do instead is buy a separate insurance plan. I am sure there insurance plans for tourists who go to places for their share of adventurous activities.
Similar to upgrade, downgrades are also crucial. If after visiting the place of fancy, you somehow feel that you have unnecessarily bulked up the travel insurance coverage, should you be able to downgrade it and get a portion of your money refunded? Ask your agent.
Zero tolerance for intoxicants
Most insurance policies for travelers have zero tolerance for intoxicants. In other words, the policies don’t cover accidents/injury/illness due to alcohol and drugs. For any traveler, looking for an insurance plan, this is a very important thing to remember.
Many nations have strict laws against drugs. Alcohol is permissible, but drugs are “no-no” in most places. It’s best that you fully know the laws of the country you are planning to visit. Is alcohol consumption banned there? Is it allowed for tourists? Get every piece of information to save yourself from legal trouble and also for travel insurance coverage.
Insurance companies don’t disclose how they verify whether an injury/accident happened due to alcohol or drug. So no point asking them. Just stay away from intoxicants and if you meet an accident or fall sick during your trip, get the local authorities you confirm that you didn’t do alcohol or drug before.
Additional Exclusions
It’s important you get a list of all the exclusions. Just like extended coverage, an insurance policy for travelers might have an extended list of exclusions. Injury or damage caused by extreme weather conditions is a great example of exclusion. Normally acts of gods such as earthquake and natural calamity fall into this category.
However, a travel insurance company might extend their exclusion list to include acts of war, civil or political unrest and acts of terrorism. If the policy you are buying comes with an extended list, you won’t be reimbursed for any damage to health and belongings due to the said acts during your entire trip.
If you have any pre-existing medical condition, declare it before your purchase the policy. Or else, any damage occurring due to it would be null and void.
Tell the truth
When looking for a travel insurance policy, we expect the insurance provider to be truthful. We as customers should tell the truth as well, which in this context means not hiding anything and disclosing everything that might be relevant to the policy.
Summing up
The tips discussed here will help you get yourself a suitable travel insurance plan – one that addresses all your queries and concerns. So follow these tips.