You have made extensive plans for your dream vacation. You have booked flight tickets, confirmed the hotel rooms and booked rental cars. Looks like you are all set? But what if you have an accident on your trip abroad or happen to lose your luggage or your passport? Are you covered against such eventualities? Not till you have bought travel insurance. Travel insurance protects the international traveler from mishaps that may occur on their trip abroad. So whether you lose your luggage or catch the stomach flu, you know you are secure against all those unexpected expenses.
However, with numerous policies in the market, it is important to look for a travel insurance plan that not only offers complete peace of mind but also fits your budget. Here are some tips on how to get the cheap travel insurance that covers your needs.
How to Find Cheap Travel Insurance
What You Need
It is important to understand your needs while looking for a cheap travel insurance plan. This includes the destination, duration of your stay and what you would be doing during the travel period. This will help in assessing the sum insured required. In places where the medical costs are higher, you would require a plan that adequately covers these expenses.
It is easy to choose travel insurance that your travel agent or tour operator may provide. However, it is prudent to compare the travel insurance provided by your travel agent to policies provided by other insurance companies. This will allow you to not only find a cheaper cover but also one that meets your needs. The internet is the best place to compare travel insurance quotes. You can visit the websites of different travel insurance companies and view their rates. Alternately, you can visit price comparison sites to check the insurance rates.
Note: Do not select the travel solely on price. A cheap travel insurance cover may not provide adequate cover including abysmally low coverage for baggage or medical emergencies.
Check the Inclusions
While looking for the travel insurance policies, it is also important to check the coverages. Some of the important inclusions in the travel insurance policy would be:
- Overseas medical cover including unexpected emergency surgery, diagnostic tests (such as X-Ray, blood tests, scans), and medical aid.
- Trip inconvenience such as loss of baggage, delay of checked-in baggage and loss of travel documents.
- Personal accident cover
- Cover against trip cancellation, trip curtailment and burglary of your home.
Note: Do check the fine print for the exclusions in the policy as well to avoid any rude shocks while filing claims.
Frequent Travelers can Opt for Annual Multi Trip
Are you frequent international traveler? It would be prudent to opt for an annual multi trip policy that can save you time and money.
Check the Excesses in the Policy
If you are opting for a cheap travel insurance, do check the excess in the policy. This is the part of the travel insurance policy that you agree to pay, while the insurance company pays the remaining amount upto the limit of the cover. While some of the policies may look the cheapest, you might find out that the excesses are extremely high at the time of claims.
A comprehensive travel insurance policy, which covers all the factors mentioned above, can go a long way in ensuring your peace of mind. A quick visit to our travel insurance page can help take care of these.