For most of us, buying travel insurance is often not in the planning when preparing for vacation. But did you know that it is one of the prerequisites for a perfect trip? Here are 5 things you need to know when deciding to buy travel insurance.
1. Not all insurance packages are the same
While people often see the cost as a basis for comparison when researching insurance, choosing the cheapest insurance package is not recommended. Depending on the value of the policy, the insurance package will offer benefits, limited case compensation, as well as different amount of compensation. Therefore, you need to carefully consider the following factors when buying travel insurance to have a choice that is both suitable for your budget and ensure your travel needs.
Trip type: If you are planning an adventure, keep in mind that many insurance policies do not cover adventure sports such as boating, waterfall or climbing. Therefore, you need to make sure that the above activities are mentioned in your insurance policy.
Trip destinations: Locations that are identified as “high risk” will usually not be covered. In that case, if you are still intending to visit these areas, you should opt for an insurance package with a compensation clause in the event of a chemical, nuclear or biological attack.
Personal health: Many people often don’t think about the possibility of having conditions such as asthma or eczema when they plan their vacation. To avoid costly expenses, if you encounter one of these conditions, choose an insurance plan that agrees to cover outside medical care.
Trip length: Some contracts only provide coverage up to a maximum of 120 days for each trip. So, if you decide to go longer than usual, an unlimited time insurance policy will be your optimal choice.
2. Buy travel insurance early if possible
Although no one wants to think about this, a lot of unforeseen risks can happen even before your trip has started. That’s why buying travel insurance early will be a wise move.
Flight delays, plans to be delayed indefinitely or even completely canceled are very common cases. However, if you already have a good insurance plan available, you can rest assured that your pre-trip expenses will be fully refunded.
Never wait until the day to go (or worse after you’ve arrived) to buy insurance. At that time, the cost is not only higher and the procedure will be more inconvenient, but you also have to accept the risk that that travel insurance package will not protect the entire trip. Therefore, there will be no harm when you prepare yourself a suitable travel insurance package early.
3. Select the annual or separate insurance package for each trip?
At first glance, it seems that buying insurance for each trip will be more reasonable, as most families only take one vacation a year. However, the arrival of low-cost airlines has made travel easier and more frequent than ever.
If you plan to travel more than three times a year, consider buying an Annual Travel Insurance Package, even if your destination is just anywhere near Laos or Cambodia.
Buying annual insurance is not only more convenient (because you don’t have to buy many different packages), but it’s also more affordable for your pocket. The Annual Travel Insurance package usually provides more comprehensive protection not only for you but also for those traveling with you. Therefore, do not miss this worthwhile option of rice bowl if you have not studied thoroughly about the travel insurance!
4. Credibility of the Insurance Company is very important
Choosing the right insurance company that you can trust is even more important than choosing the right insurance plan. This may not be obvious from the outset, but when you need compensation, you want a company that has 24/7 global support, responds well to situations, and handles Compensation quickly, simply and conveniently.
5. Travel insurance is not a substitute for health insurance
While travel insurance has an unforeseen accident or illness claim, it does not mean that travel insurance is a substitute for comprehensive health insurance, because only New health insurance is able to support the maximum cost of domestic medical examination and treatment.
If you’re looking for more comprehensive vacation packages, choose those that offer emergency medical rescue services. The extra cost for these services can range from a few hundred to a few thousand dollars, depending on where you are going, but it’s also an additional solution for your peace of mind on each trip.