Travel Insurance - Which Travel Insurance Should You Buy?

Two decades ago, purchasing travel insurance have sounded like a warning to most consumers. No travel or cruise agent would mention the need for such whenever offering their service. It used to be a forbidden word which if mentioned was sure to send customers running in the opposite direction. But in the modern world in which we live in, all the travel, cruise, and flight catastrophes that are getting media coverage as well as those horror stories about trip and flight cancellations, people are starting to think about getting travel insurance.

And if you come to think of it, getting your trip, health or possessions insured is a good idea. Packing these altogether would also require that you choose the best one depending on your needs, preferences, and budget. But how do you choose the right travel insurance? We’ll learn it all here while also learning the most popular ones that are available

Secure a Flight and Trip Cancellation Insurance If You Need One

In this type of coverage, you need to be able to weigh the value of your investment when compared to the price of the insurance itself. If you’re targeting budget flight tickets, the ones that are on super sale to destinations like Atlantic City, you won’t be needing this kind of coverage. However, if you paid $10,000 for the Mediterranean cruise, purchasing travel insurance is recommended.

Whether you like it or not, there will always be unexpected circumstances that can happen like getting sick, an accident, death in the family and many others which you would need insurance for. What if the cruise suddenly changes its course or excursions change? And what if you get sick during the journey? If this happens, be sure that you purchase coverage from outside insurance instead of getting it from the cruise’s brand as their insurance vanishes once their cruise brand goes out of business.

Travel Health Insurance is Crucial

Don’t ever think that just because you have health insurance in the U.S., you are automatically covered wherever you go. This is not the case especially if you travel out of the U.S. on a cruise. Most cruise ships that leave from the U.S. ports are based in other countries which means that the health insurance that you have will not be honored if you get sick while on the cruise itself. Now, this is a red flag that you need to be mindful of.

On other possible circumstances especially some emergencies that require you to be flown back to the U.S. for treatment, you will not be covered by your health insurance as well. And if you get admitted to the hospital while in an underdeveloped country, you will be accepted by healthcare providers without being concerned about coverage. They’ll just keep you until you pay the bills. That’s why it’s important that you get travel insurance policy which covers health.

When you shop for travel health insurance, look for the one that offers initial treatment and is capable of sending trained and medically-equipped staff no matter where the emergency happens. And more importantly, it must also allow you to choose the medical facility and even the doctor of your choice. These are the critical details that you need to watch out for when shopping for travel health insurance coverage.

Baggage Insurance Also Helps

You’ll be glad to know that most travel or cruise cancellation and interruption insurance policies already cover damaged, stolen or lost bags. This is one of the essential things that you need when you’re on travel. Warsaw Convention covers on a per pound basis for checked bags at $9.07. For passengers and unchecked bags, they cover only $400. The U.S. Airlines as of February 28, 2007, only accepts liability for damaged or lost bags up to $3,000, an increase on a per passenger basis from the $2,800 current limit.

Lost Baggage 1024x683 - Which Travel Insurance Should You Buy?

That might sound good at first until you know that furs, jewelry, and other negotiable financial documents are excluded. Anything that’s worth something is excluded. And there’s this ‘depreciation’ which they really love. One more thing, the $3,000 limit isn’t per bag; it’s on a per incident basis.

So what you can do is to ask for what is called ‘excess valuation’. You can do this at the ticket counter. Doing this will add up to $5,000 coverage with a rate of around $1 for every $100 value. Choosing to purchase this would mean that you need to describe everything that’s in your bag. It will require more time but still worth it!

Should You Buy It or Not?

First to think about is the value of your investment and compare it to the amount you will be paying for the insurance. Also, think of the place you’re going to visit and do research on what kind of country it is. Is it underdeveloped? See what mode of payment you’re going to use to pay for your airline ticket. If you used a credit card and the flight gets canceled, your insurance will cover it since you paid for a service that you did not get.

If possible, look for third-party insurance like a cruise travel insurance that is not in any way affiliated with the travel company you’ve arranged your travel with. Be sure that it is licensed in your country or state. Delays in cruise or flight schedules may also happen, and if you want to cancel because of a single event of a delay, you can’t do so because most policies only cover cancellations if more than half of your vacation has been delayed.

If you’re looking for the best quotes on travel insurance, you can find one by using Health Insurance Finder where you can filter by preference and see the best comparisons on different insurance products available for you.

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