Travel Insurance

Travel insurance cover is intended to make sure you don’t lose lots of money if an emergency happens while you are travelling. As most health insurance policy does not cover you overseas and most travel credit card offers minimal protection, to protect against the unknown, getting travel insurance is an essential factor in your travel planning.
How to choose the right travel insurance?
If you are looking for the best travel insurance, you probably know the importance of having travel insurance while you are travelling abroad. Most of us know the Travel insurance offers a vital safety net when you are overseas. Indeed its one of the essential things to have when you are planning an overseas holiday. However, it is not only having just any travel insurance policy but having the right policy is essential. Although its often overlooked, without right insurance cover, you may suffer financially if things go wrong.
Choosing the right insurance policy is one of the most critical steps you need to take while planning your trip. However, it is the most complex and confusing process, and it can be challenging when it comes choosing the right policy. I want to make it easy for you, help you to understand the nitty-gritty of it.

Below step by step guide will help you to make the right choice of travel insurance:

Make sure you get the right type of insurance policy

There are various travel insurance policies to choose from, so make sure you choose the right insurance provider and product. There are two insurance policy types available in the market co comprehensive travel insurance and basic travel insurance.

Depending on your circumstance, consider what type of policy suits you most. Do not just opt for the cheapest option available it could cost you more in the long run. Ensure policy covers what you need. 

Comprehensive travel insurance

Good Comprehensive insurance plan includes below a list of the things in their policy:

• Cover most countries in the world
• The policy should cover Medical assistance as well as medical emergencies (Cover injury and sudden illnesses) with higher coverage limit option
• Cover cancellation cost and delays for hotel bookings, flights, and other types of transportation bookings. Also covers you from other emergencies such as a sudden illness and death in the family.
• Cover lost or damage, stolon valuable, offers high coverage limit options and includes some coverage for electronic items.
• Cover from emergencies such as political crises, natural disasters, or strife in the country that cause you to head home early.
• Also covers form legal problem you may face when things go wrong.
• Good policies also cover some high-risk sports activities such as scuba diving.
• Offer 24/7 customer service

However, on other types of policy, you pay more. There is a wide range of comprehensive insurance products available in the market. Usually, you will get higher claim limits or higher item and lower excess at the higher end of the price range.

Comprehensive insurance covers inclusive of most the things. These type of insurance policy suitable for most people as they cover most of the tings. Although it won’t cover everyone or everything so might still like to look for the insurance provider’s optional extras to cover anything not included in the policy. If you are carrying the expansive item, you may opt for higher item claim limits.

Basic travel insurance

Basic travel insurance offers medical-only service, such as your health and medical emergencies. Basic cover is most popular with budget travellers and backpackers travellers. It is best suitable for people who travel without any expensive item and just looking cheapest or cost-effective option. This type of policy usually does not cover any cancellation or property lost cost. The basic policy has much higher excess than any comprehensive policies.

Making sure, to get the travel duration right

The first thing is to get the duration of travel right. Well, its sound simple who can make this sort of mistake of choosing wrong travel dates. Truth is you might make a mistake while calculating a number of days you will be away, so make sure you get this right. Your holiday dates and insurance policy cover date should match even if you are out for one more day more than your policy covers. It is crucial to pay attention to the dates you covered for If dates not are matched your policy will automatically get invalid.

You can avoid this mistake effortlessly by merely paying attention to detail, as most of the insurance providers will allow you to enter the date you leave and the date you return. Always make sure you put the actual date of arrival in your home country. If you are travelling over time zones, you could arrive home a day after you left.

Another thing to consider is that most of the insurers usually quote based on a number of days you will be away. If you are just a planning single quick trip, you better off taking a one-off travel insurance policy for a set number of days.

If you are frequent traveller than consider taking the multi-trip policy or annual policy. It will be more value for money option to consider. Please also note that yearly policy can restrict the length of each trip you take so it’s better to check the fine print of your policy carefully.

If you are going for the long term, you probably need to look for other alternative option, travel insurance policy may not provide all the benefits. Consider taking local domestic insurance at your destination country or check with your insurer.

Makings sure all destination are cover in your travel insurance policy

If you visit multiple countries, don’t forget to include each country you visit (including stopover and transit point) in your insurance policy. Sometimes it can be tricky because when you’re buying the insurance most of the time, you are asked by insurance provider which country you will spend most of the time. Consequently, if you miss out to enter the other countries’ details, you intend to visits on that particular trip. Please also note that some policies are destination specific. It is always a good idea to check with your insurance provider if you need any further clarification.

Consider your Age, Health- Declaration of Pre-Existing Medical Condition

Your age and health & any pre-existing medical conditions are an essential factor in considering this will impact the type of policy you require and how much it will cost you. Please be honest with your insurance provider about any pre-existing medical condition. Suppose you have any pre-existing condition its always better to let your insurer know beforehand. In that case, most insurance companies have a cover list of a lower-risk pre-existing medical condition such as Asthma is usually covered under pre-existing condition. If you’ve been diagnosed with any medical problem or are unsure if your situation is covered, it is better to ask your insurer before getting the policy. 

Absolutely, not a good idea to think that you will get away quickly with not declaring about your pre-existing medical condition. The insurance provider could request and has the right to get hold on to your previous medical records. If somehow insurance company found out that you fail to declare your pre-existing medical condition, this will void your insurance policy.

Make sure to get extra cover if you are planning to go for adventure sports

Adventure sport is fun but could be extremely dangerous. If you plan to do some adventure sports overseas on your holiday such as Sky diving, Bungee Jumping, horse riding, skiing and so on, don’t forget to check with your insurance provider if these activities are cover in the policy. Not all the standard travel insurance policy cover offers high-risk adventure sports. However, you may choose to pay a slight extra to ensure you are covered if something unfortunate happens. Please check with the insurance provider about terms before taking the insurance.

Make sure you are taking right Insurance Excess amount

Firstly, let’s understand how Insurance excess works. Insurance excess is the amount you need to pay out-of-pocket when claiming with the insurance company. For instance, if you choose to take your excess amount is $ 500, and your claim is $2500, you have to pay $500, an insurer will pay you back remaining $ 2000.

So how to make sure right excess amount, so remember the lower the excess amount higher the premium amount and the higher the extra amount lower the premium amount. Nonetheless, don’t choose to go with a higher excess because you will get the cheaper policy premium. Evaluate your capacity to afford the excess cost and make the decision accordingly.

Make sure all of your belongings are cover

In an ideal scenario, most of the things you take with you on your trip should be covered in your standard travel insurance policy. However, there are few exceptions that you need to know if you travel with expensive items such as camera equipment, jewellery, Golf games and so on. If you plan to travel with any costly items, you need to declare this with your insurance provider to cover those items. The insurance company may charge you an extra premium amount to cover these items. 

Some insurance policies allow you to claim only up to a specific amount for your belonging. If you are carrying more expensive item than allowed maximum limit amounts, it’s better to look for an insurance policy that will cover you. I also heard from a friend that more recently insurance companies not covering mobile phones so take note of this and don’t forget to check the list of exclusion of items that you cannot claim before taking insurance.

Make sure what not covered by the travel insurance policy

There are few exceptions for most travel insurance policy does not cover below a list of the things.

• Unless you pay for extra coverage, most insurance companies exclude accidental cover for risky adventure activities such as sky diving, hand gliding, paragliding or bungee jumping. Always double-check with the insurer if you are planning to go to this adventure activity.
• Your policy may not cover you if the illness or injury is due to a drug or alcohol-related.
• Your policy may also not cover you if there was negligence on your behalf in handling your baggage and possessions. If you left something on the plane or unattended, your theft coverage wouldn’t cover you in this case. If you miss flight: Delay and cancellation of the flight are mostly included in the insurance policy but missing your flight is the most case is not covered by the insurer.
• Some pre-existing medical conditions are not included, such if you are diabetes and need to get more insulin, you will not be covered. General health check-ups are not covered in the travel insurance policy.
• Stolen or lost cash
• If you get robbed or lost property – If you lost your wallet or you get stolen. It is better to report immediately don’t wait to over your holiday as per some insurance policy terms you need to file the police report within 24-48 hours. So essential to report any theft right in the given timeline to get your claim from the insurance company.

Make sure to read the term and condition of the policy to find out Travel Insurance Loopholes

Always read the fine print to ensure you are getting the right cover. Often after reading the fine print, you will find that the plan is not as good as expected.

Remember, you get what you pay for and that some of the added benefits may be optional extra that require additional payment. Most of the time you see, two companies offer similar plans, but one is cheap? It’s mostly because they have had so many rules and terms in the fine print that you will learn that you will not get paid when you think you are supposed to get!

Always ensure you have cover for below list of items

If you get sick or injured on the trip, check how much medical and accident coverage is included in the policy terms.

Emergency evacuation and repatriation converge is included. This arrangement will help you taken to the nearest hospital or flown home if necessary

Ensure trip cancellation and trip interruption coverage is included in the policy term this arrangement will help you if you get reimbursement if you get sick and have to cancel or end the trip early

Theft and lost coverage are included; this will help you get a payment if you lost the luggage or stolen, damaged luggage.

Make sure insure offers 24- hour assistance service will help you find a doctor abroad.

Check if Car collision insurance (CDW) is included if you able to get the payment for rental car damage