A Travel Insurance Primer

Purchasing travel insurance can be so overwhelming at times that some travelers don't even want to bother thinking about it. However unpleasant the task may be, ignoring it is a risk that's not worth taking. A little effort to get coverage can be a life-saver if something goes wrong during your trip. You can easily find a policy that fits your needs and your budget.

Policies generally cover financial losses you may incur while travelling, and also your medical expenses. Trip cancellation or Trip delay insurance is the most widely-bought travel coverage. This policy will cover you and your co-traveler if you had to cancel or delay your trip. Insurance companies differ on what an acceptable reason for cancellation is, so make sure that you know what's accepted and what's not. Some generally accepted reasons for trip cancellation are business conflicts, delay in processing your visa or passport, sudden illness, injury and weather related issues.

Flight cancellations have become so frequent these days that some domestic frequent travelers prefer to have travel insurance at all times. If your flight is cancelled or delayed, your travel insurance may cover your expenses not covered by the airlines, like cab fares or hotel costs. It's not a bad idea to buy a travel insurance policy that offers medical coverage of up to 1 million and cover you for illness, medical assistance or flight accidents. Try to keep your deductibles low while buying travel insurance as this will be the amount you pay out of your pocket before the insurance kicks in. Double-check that your insurance policy covers you for repatriation to your home country. If you are travelling to different countries then make sure that your insurance policy covers all the stops on your itinerary.

Travel insurance comes in many forms and sizes. You can purchase it for a single trip or multiple trips, or maybe even take an annual policy. It all depends on the frequency of your travel. Check with your insurance provider to find out how you need to claim the expenses. Find out if the insurance company will pay the providers directly or if they want you to pay for the expenses and redeem the money later. If you have to submit your claims later, then you need to record all your expenses and keep all expense related documents.

One important thing most travelers overlook is pre-existing conditions. If you have a pre-existing condition then make sure that you let your insurance provider know the complete details of it. Don't try to cut the cost of your insurance by hiding your condition; it defeats the whole purpose of purchasing the insurance. Always purchase a policy that gives you the flexibility to extend your trip. Get in touch with your credit card company before purchasing your insurance as some credit companies offer free travel benefits such as insurance on lost or damaged luggage. If you already have a health insurance, check with your provider to find out what their policy is with regard to travel.