Insurance is one of the last things we have on our minds when we travel. Oftentimes, we think about the exciting things we’ll be experiencing when we’re traveling. Learning about other cultures, savoring different types of cuisine and taking photos with historical monuments are just some of these things. We put more serious matters like travel insurance to the backburner, when it should’ve been a priority.
Travel insurance provides us cover in case something unfortunate happens to us while we’re vacationing. We don’t usually invest in travel insurance because we don’t think we need it. We usually couch travel in positive terms and assume that nothing bad will happen to us. Hence, we think travel insurance is nothing but an unnecessary cost. While it’s nice to always think positively, it’s better to think cautiously.
There are a lot of unfortunate situations that you could find yourself in when traveling. Thefts, baggage damage and loss, ski accidents, and food poisoning are just some of the situations you may encounter.
Getting coverage also helps protect your own or your family savings. You don’t want to force your family to dip into savings or lend you money to pay for accidental costs. If you think about it, getting coverage is less expensive than any costs you may incur from accidents and thefts. It’s better to get travel insurance than regret not having it.
Here are some beginner tips on purchasing travel insurance:
Identify what you’ll be insuring.
There are two things that you have to look at: your trip details, yourself, and the stuff you’re bringing.
First, look at where you’re traveling to, with whom, and how you’re going to get there. Then list down the possible activities you’ll be doing. Does your trip involve any high-risk activities? How long will your trip be? Checking all these details will help you determine what kind of coverage you will need.
There are also family and group policies available. Even if you’re traveling locally, you might need travel insurance, just to be safe.
Then, survey all the items you’ll be bringing. Evaluate how much they would cost in the event of a theft, baggage loss, or damage. Are you bringing credit cards and expensive gadgets? There are specific plans available for these items.
Know the basics of each policy.
A policy typically tells you the extent of coverage, premiums, payment schedule, and claims. You need to get a hold of this information. You also need to identify the exclusions for each policy. Most policies exclude pre-existing medical conditions and incidents involving high-risk adventure and sports activities, as well as alcohol and narcotics. Some policies differ based on where you’re coming from.
Choose if you’ll get an annual or per-trip policy.
This largely depends on how often or rare you travel. Unless you’re a frequent traveler, a per-trip policy would be more practical.
Remember, when getting a policy, quality is always superior to price. To know more about travel insurance policies, visit the World Nomads website.
(Cover photo courtesy of Felix Broennimann / Pixabay)