There have been many travel restrictions due to the pandemic. However, more people get to travel thanks to the implemented measures and vaccines. That is why some wonder if they need to obtain travel insurance.
Whether you go on a domestic or international trip, experts say getting travel insurance is a must. The right travel insurance can help cover issues such as flight delays, medical emergencies, baggage delays, unexpected cancellations, loss of money, and much more. Generally, travel insurance is worth getting as it prepares you for unforeseen costs.
Continue reading to know what you need to consider when getting travel insurance.
This may seem too simple, but you must correctly calculate the number of days you will be away. Otherwise, your insurance will be invalid if you miscalculate and miss one or more days in your insurance coverage.
Most insurance websites ask clients to indicate the day they intend to leave and return to prevent miscalculating. Know the actual date you land since you might land a day after travelling to places with different time zones.
Something you need to consider when choosing travel insurance is your intended destination. You want to ensure that your travel insurance provides coverage for all the countries you visit. In most cases, the insurer may ask you to indicate the country you will stay in the longest during your booking.
Also, it is good to know the cover size and the nature of the city or country where you will go. For instance, you can expect to pay more in high-risk areas and countries with a larger size. Therefore, before making any online bookings, it is best to contact the insurance provider.
Insurance helps to provide coverage for any unfortunate loss. For this reason, it is crucial to examine the claims process and the insurer’s claim settlement ratio to determine their accuracy. To know the insurer’s eligibility, you should check if deductibles or any time excess. Check out our article on how to speed up the travel insurance claims process.
Checking the medical benefits and coverage is crucial because hospital costs are different depending on the country. Moreover, you have to inform your insurance provider if you have any pre-existing conditions or ailments. If your situation is not covered, the hospital bills can be hefty.
It is advisable to be open about your medical conditions since your insurance provider can access your medical records if you make a claim. Besides, your insurance can be voided if they discover that you did not state a pre-existing health condition.
Most services are now digitalized, thanks to technology. Therefore, you want to ensure that your travel insurer guarantees an automated and paperless process when getting your travel insurance.
They should offer services digitally to prevent the tiring process when making a claim. You simply need to upload all the required documents and information rather than print hard copies. This can save you both time and effort.
Extra Coverage for High-Risk Activities
Are you planning to go skydiving, bungee jumping, skiing, or horseback riding on your next trip? If yes, you need to check that your insurance policy can cover these activities. Since some insurance providers do not include high-risk activities, this is an essential factor.
However, you should note that you will need to pay a little more to get this coverage if something unfortunate happens. If you are unsure, it is best to ask your provider before buying.
Always Budget for Additional Costs
There can be excess costs for any travel claims requested like other insurance policies. For instance, your luggage did not arrive on time, and you asked for a $2,000 claim to compensate for the losses. If there is an extra $500 for the compensation to replace your items, your insurance provider will pay you $1,500.
Generally, the lower the additional costs, the higher the policy, and the higher the additional costs, the lower the insurance policy. Nevertheless, this does not mean it is better to opt for higher additional costs since the insurance is cheaper. What is more important is that you can afford the additional costs.
Usually, everything you bring on your trip is covered by your travel insurance. Nevertheless, this may not be the case if you bring something expensive such as jewelry or expensive gadgets. Expensive items may not be covered in most travel insurance policies, making it crucial to alert your insurance provider.
You might need to look for insurance that has enough coverage for your items if you calculate that your possessions are more expensive than the given amount. However, you should know that there can be extra costs to include costly things in your insurance.
Recently, some insurance providers have reverted from providing coverage for mobile phones. This is because more and more people are making claims about losing their phones.
Buy Insurance Early
Another tip is to buy your insurance early. If you plan to get insurance at the last minute, you will likely forget it or not have enough budget for it. As a result, you might not be covered if you get sick before your trip and have to postpone it. Buying your insurance early also gives you adequate time to know what is covered in the policy.
Understand the Terms of Claims
Before you sign any agreement with an insurance company, make sure you understand the terms and conditions. Read the claims carefully and do not ignore any critical information. Otherwise, you will likely pay more, or the claim may be rejected.
Finally, having the right travel insurance can prevent unexpected expenses such as missing flights, medical emergencies, delayed or lost baggage, and flight delays, among many others. Moreover, travel insurance gives you peace of mind as you deal with other essential matters such as visa applications and the things you need to bring to various locations.
Also, don’t forget to find the right insurance broker to help you secure the right insurance for your needs. Insurance Direct Canada is a reputable and licensed insurance broker that makes purchasing travel insurance hassle-free. What’s more, you may want to check out their website for the best insurance advice and quotes.
You can also check out the major providers via our Best travel insurance companies in Canada article or via the button above. There are Manulife review, Desjardins review, etc.