It is surprising the amount of people who purchase the first travel insurance policy offered at a cheap rate or choose a policy solely based on the fact it is a company they have done business with in the past. As well as leaving you out of pocket by spending more than you need to on a policy, it could also mean that you end up with an insurance policy that doesn’t include sufficient enough cover that meets your own needs.
Although it is a lot easier nowadays to find and compare insurance policies because everything has moved online, you still need to keep your wits about you. TO help you make the right decision, we now give you some insight into the important parts of a travel insurance policy that you should be looking closely at before signing the dotted line.
The Cost Of The Premium And Excess
Price alone should never be the main reason you choose a particular policy. However, it is still important to make sure that the type of cover you are receiving is worth the price you are paying for it. Look also at the amount of excess you will have to pay before you can access your insurance money if you need to make a claim.
The Benefits And Exclusions
You should make sure you understand the various exclusions and benefits associated with a particular policy, to avoid any unwanted surprises when you go to make a claim and are told your policy won’t cover the incident/accident.
Pre-Existing Illnesses And Conditions
Each and every insurance company has different ways of treating pre-existing medical illnesses and conditions on their policies. There should be a full description of what is and is not covered in the product disclosure statement. If you discover that your particular condition is not covered, it is recommended that you contact the company to discuss your options.
24 Hour Emergency Assistance
This is perhaps the most important benefit that you should make sure is available on an international travel insurance policy. If you become ill or seriously injured in a foreign country, you want to know that you have the peace of mind that you will be looked after.
Your Insurance Company Is Easily Contacted
With regards to the above it is also important to make sure that as part of your policy you will be able to contact your insurer easily while abroad. Most good insurance companies provide a 24 hour support line for their customers.
Documentation You Should Carry
Rather than leaving you stranded without the right sort of proof when you are thousands of miles away from home, check with your insurer the documentation you should take on holiday with you and the documentation you will need if you need to make a claim.
Looking for and purchasing travel insurance and health insurance when you are heading out on vacation is a necessity, but it doesn’t need to be stressful. By following the advice above, you should be able to find the exact policy that suits your needs and requirements. Incidentally, one great place to find great deals on travel health insurance is Covad.