Getting Travel Insurance Quotes Online and What to Look Out For

What and Why is Travel Insurance Necessary?

Travel Insurance is to protect your investments (or rather your spendings) on your business travel or holiday trip; in the event of unforeseen accidents, delays or cancellations, or loss, you will be reimbursed for the incident. For recommendations on where and getting the best travel insurance, we’ll touch on that after we cover the types and coverage of travel insurance.

An Insurance to Ensure Your Holiday or Business Trip Won’t Go Bad

Other than monetary compensations, a proper travel insurance can prevent a holiday from turning bad because of say, a lost baggage or loss of essential traveling documents. Often times the deposits and prepayments have to be paid so early that unforeseen circumstances often happen, like an illness, death in the family, accident etc and your trip may need to be delayed or cancelled. There will be financial losses to you as most of the money you have paid is non-refundable and without the protection of your travel insurance, you will be very much out of pocket.

You may ask why it’s necessary since you may own several insurance policies. Your private health insurance may only cover you in your own State or Country so it is necessary to make sure you have the medical insurance coverage for your travels. Travel insurance is one of those things that most of us reluctantly buy, hoping we will never actually need. You may hesitate over the purchase but often it is a necessary expense if you are planning a business trip or holiday abroad. And like many other aspects of insurance, it can be confusing, costly and time consuming to get the right cover. Good thing, you can always get a travel insurance quote first, and proceed if you are alright with the coverage and premium.

 Types of Insurance Available

There are several types of coverage for travel insurance and it will depend on the insurance company issuing the policy as to what you are covered for. Not all insurance policies offer the same coverage.

Travel insurance can be tailored towards the needs of certain types of travelers. There are special insurances aimed for students, business travelers, adventure travelers, cruise travelers, etc. Specialized travel insurance is usually a good option.

COVERAGE – What Should Your Travel Insurance Include?

There are many situations that could result in your need of travel insurance. Things like lost luggage, trips being cancelled, medical emergency expenses along with other situations you may not have thought of.

Your policy should at least cover you for the following possible incidents:

  • Trip Cancellation
  • Personal Accident coverage (death, permanent disability, TPD)
  • Medical Expenses
  • Baggage/Personal Effects Loss or Delay
  • Medical Evacuation/Emergency Transportation
  • Trip Delay
  • Supplier Default (aka Travel Agency Default), this will cover you for any payments either full or deposits you have paid in the event the travel agency defaults
  • Flight/Trip Cancellation will cover you for non-refundable payments or any deposits paid for trips that have to be cancelled due to unforeseen circumstances. This is the most common type of travel insurance.
  • Flight Curtailment, Delay Departure
  • Legal Assistance
  • Personal Liability
  • Car Rental Damage Excess
  • Accident and Medical Expenses is another cover that could be overlooked but is very important when traveling. This will cover you for any costs you may have for illness or injury while you are traveling. Baggage/Personal Effects Loss or Delay, this will cover you for any items that may be lost or delayed in getting to you while traveling. Things like your luggage not arriving with you and you need to replace certain item while waiting for your luggage to arrive.
  • Medical Evacuation/Emergency Transportation, as it says, this covers you for medical emergency transportation if you need to be transported to a hospital or medical facility while traveling.

Typical Places to Buy or Get Your Travel Insurance Quote

From your Insurance Agent
You can take out single travel insurance that covers you for the exact duration of your trip or you can take out more extensive continuous insurance policy that covers all your travels within a certain period of time, usually a year. The latter is a great option for frequent travelers.

From the Travel Agent/Agency
You can buy insurance from most travel agents, travel suppliers or directly from an insurance company. Just make sure you are comparing apple and apple. You can’t look at the price only, you must also compare what cover is included in the price and what the excess is. Many travel companies like tour or cruise lines will offer their own protection plans. You may find these plans will offer a very different coverage to other insurance companies who do travel insurance. It is best to compare what each will cover you for and don’t make the mistake of taking the travel company’s offer without making sure it is best for you. Make sure you are being covered for all you need.

From online established and trusted insurance company
When obtaining a travel insurance quote or buying travel insurance online, it’s important that you buy insurance from a company that is reliable and processes claims (if any) quickly. Also, the insurance company should be easy to be contacted in the event you need assistance while overseas. We have heard good reviews on Access America Travel Insurance. It helps that Access America is a global provider of travel insurance with offices in 28 countries, and is owned by Allianz. So you know you have a well-established company behind you no matter what happens. It’s advisable not to be penny wise and pound foolish when it comes to travel insurance – ensure that you are adequately covered for your trip.

From the Credit Card company/bank
Some credit cards offer travel insurance if you pay your trip with their credit card. Credit card insurance can be perfectly satisfying for some people or for some trips, but not for everyone all the time. Do check carefully what the credit card travel insurance covers. If it does not cover adequately what you want to be covered then get more comprehensive insurance policy.

Optional But Recommended Travel Insurance Tips

Adventure trips and holidays featuring extreme sports are more popular than ever these days. Does your travel insurance cover you against such activities as bungee jumping, sky diving and mountaineering? These are just a few of the activities that will normally be excluded unless you specifically request coverage. Skiing and scuba diving – two commonplace activities – are considered dangerous sports too. Winter sports coverage is usually offered as an optional extra or included under a separate policy. Surprisingly though, statistics prove that most accidents abroad actually happen in hotel rooms!

Consider trip cancellation insurance. As the name suggests, this insurance covers you in the event of delays or cancellations. Some of the most common reasons you may need this type of insurance are bankruptcy of a cruise line or airline, weather delays and other natural disasters and labour disputes. Most discount air tickets have stiff penalties for changing dates or cancelling them altogether – it may pay to insure against that possibility.

Make your list of what you want covered and also make sure you know the value of your possessions and for your valuables, take photos so they can be identified in case of loss or theft. With digital photos and cell phones with inbuilt cameras this is very easily done today. If you do have to make a claim for a loss with your travel insurance company, if you have records for them, it will speed up the process for you.

Final Notes / Conclusion

Travel insurance like all insurance needs to be looked into for what your needs are, you will enjoy your travel so much more if you know you have taken the right steps for a “peace of mind” trip. It is crucial to read the conditions / small print carefully to make sure you are fully covered for everything that you want to be covered for. It is always better to be safe than sorry where travel insurance is concerned. It might seem like you’re throwing money down the drain that could pay for a nice meal or day trip on your holiday, but good travel insurance doesn’t have to be expensive if you know where to look and can be a real life saver if things turn sour, particularly if you’re thousands of miles away from home when it does.