Planning a vacation entails more facets than picking the location, timeframe and travel arrangements. You also have to decide whether to buy travel insurance.
If the decision is to get a policy for the trip, then comes the process of selecting a carrier and policy.
Before buying a policy find out what coverage you may have bundled elsewhere. Your homeowner’s policy may cover stolen personal items and luggage. The credit card provider may have protection against the travel provider failure to deliver services.
You also need to check your medical insurance policy. My HMO won’t cover any care out of the country let alone an expensive medical evacuation.
Once this process is complete then you know what must be bought to cover gaps in coverage.
Type of Travel Insurance
When planning a vacation the most likely policy you are looking for is a single trip plan. However, if you travel frequently you should compare the cost to a multi-trip plan that is usually good for a year.
When traveling with a group, it may be less expensive to go together on a group insurance plan rather than each couple buying separate policies.
The three components that you’ll most likely want insured are medical, trip cancellation/delay and belongings.
Common coverage for medical includes emergency medical care, emergency dental care and medical evacuation. Make sure it pays for the level of care you;ll want. Is the evacuation to your home country or state or just to the nearest medical facility.
Many travel providers went out of business in the past few years whether it was a cruise line, airline or local travel agency. Make sure your trip cancellation benefit covers these circumstances as well as terrorist attacks and disease outbreaks.
These are on top of more normal circumstances such as flight delays.
Compare prices before buying the policy as they can vary greatly. I strongly advise against buying the policy from the travel provider. What good is it to buy insurance from the cruise line if they go out of business?
A good place to compare policies is at insuremytrip.com.
Once you have this business out of the way, go back to thinking about the fun and adventure of your next trip. Do you have other tips for selecting travel insurance?