Choosing a Good Travel Insurance Policy

Traveling the world and living new experiences is a passion for many people.  Once you have booked your vacation but before you pack your bags you have to decide if and with which company you will purchase your travel insurance policy. Not purchasing a travel insurance policy is one of the biggest mistakes that travellers can make. There are so many unexpected events that can happen when travelling that it is always a good idea to be as prepared as possible for a worst case scenario.  You can lose your luggage, your flights can be delayed, or you can have a medical emergency while travelling overseas.  Purchasing a travel insurance policy can greatly reduce your unexpected costs in case of an unexpected event.

Shopping for a Travel Insurance Policy

There are several different types of travel insurance coverage that can be purchased within a travel insurance policy and there are two main types of travel insurance policies. When you shop around for a travel insurance policy it is best to give the insurance agent specific details about your vacation including your travel destinations, the travel dates, and your methods of travel so that you can purchase a travel insurance policy that best fits your individual needs.

You can purchase a single trip travel insurance policy or a multi trip travel insurance policy.  A single trip travel insurance policy covers your travel needs during one vacation within a set time frame up to a maximum number of days which is usually between 15 or 21 days.  A multi trip travel insurance policy can be purchased cover your travel needs during multiple vacations and multiple travel destinations throughout the year.  A multi trip travel insurance policy can cover an unlimited number of vacations within a 6 month or a 12 month period.  If you plan to travel frequently throughout the year a multi trip travel insurance policy may be the best option.

Choosing Travel Insurance Coverage

Within a travel insurance policy you can have several different types of travel insurance coverage. Most travel insurance policies come with basic travel insurance coverage such as medical emergencies and hospitalization costs.  Some travel insurance policies also cover the costs of basic necessities in case your luggage is delayed or lost or if your trip is cancelled or interrupted for uncontrollable circumstances such as natural disasters and political manifestations.

Many travel insurance policies also allow you to add additional travel coverage a la carte such as trip cancellation due to personal reasons and adding family members to be covered by travel insurance.  You can purchase a travel insurance policy with your financial institution or bank, you can purchase a travel insurance policy with a travel insurance company such as Blue Cross, or you can purchase travel insurance with the discount travel website where you booked your vacation such as Expedia.com.

Travel insurance premiums are usually charged in one lump sum payment. Insurance premiums may seem like an unnecessary expense, however it’s always better to be safe than sorry.  It’s better to pay $65 for a travel insurance policy than it is to pay $6500 in medical expenses when you are travelling in a foreign country and in case you have a medical emergency when travelling.

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