10 Things You NEED To Consider When Taking Out Travel Insurance
Travel insurance is an essential part of any holiday or business trip, and will ensure that you are covered and protected when an unforeseen event occurs during your trip. Our family really learned the importance of travel insurance when our daughter suffered a traumatic brain injury while in Bali, and we relied on our insurance to cover most of her extensive medical costs. Many medical centres abroad will not treat you until you either pay upfront in cash for treatment, or provide proof of having insurance- it’s not something to mess about with, you absolutely need travel insurance!
There are many travel insurance policies available in the market today, all offering good benefits for travellers. How do you choose the best travel insurance for you and your family? Here are 10 key points to consider when taking out travel insurance:
Our experience of need travel insurance while in Bali- accidents happen, and you need to be covered. The ward she was on before she moved to this room had dried blood and flies, not even a sink in the bathroom to wash your hands after the toilet – please take your medical cover seriously!
Does It Cover Your Basic Needs?
When you buy travel insurance the first thing to consider is if your most basic travel needs are covered- these are things like hospital cover in emergencies. If these needs are not covered in the policy, then you need to think twice about purchasing it. Standard travel insurance should be able to cover trip interruptions, emergency evacuation, unforeseen medical expenses and lost baggage or personal belongings.
What Kind Of Trip Are You Taking?
What kind of trip are you taking? How long will your trip take? How often do you travel in a year? You need to ask these questions when you buy travel insurance. If you only travel once or twice a year you should probably purchase single trip travel insurance. However, if you are a frequent traveler, then you should consider getting annual multi-trip travel insurance.
Does It Have Inclusions for Additional Coverage?
Does your travel insurance have inclusions for additional coverage that are not part of the standard package? These may include coverage for extreme sports activities or missed hotel reservations, or you may be looking for travel insurance with medical conditions that are pre-existing. These add-ons should be optional, depending on the needs of each traveler.
These are the memories you want of your trip- not frantic ATM trips!
Does It Cover Traveling Companions?
Before you buy travel insurance you should also consider the people who are traveling with you and how old they are. It is easier if you are a solo traveler because you only have to worry about yourself. However, if you are traveling with young children or elderly companions, it is important to purchase a policy that covers their needs too.
Do You Need Coverage For Outdoor or Sports Activities?
If you are planning a more active holiday that involves a lot of outdoor or sports activities, it is worth checking if your travel insurance covers these types of actions. Many travel insurance companies offer add-ons for such activities like skiing, snorkelling, trekking or sailing.
Which Countries Are Covered?
When you buy travel insurance you need to be aware of selecting the right geographical area and whether your insurance provides coverage for that part of the world. Governments impose travel restriction in certain countries, and your insurance might not provide coverage for every country.
What Are The Exclusions?
You also need to know what your travel insurance excludes in their coverage. Most travel insurance will not cover pre-existing medical conditions or injuries sustained as a result of reckless or illegal behaviour. While in Bali we met several people who had been riding scooters without the sufficient insurance, and we frequently heard of people getting into accidents and having to pay for medical care out of pocket.
Some travel insurance offers coverage for cancelled flights- well worth it when you’ve spent the night on the airport floor!
What Is The Excess?
The policyholder is usually required to pay for an excess amount when they make any claims on their travel insurance. You should check if you have the choice to pay an additional premium in order to waive paying an excess amount when you need to make a claim. We learned about this the hard way when Eira was in hospital in Bali- it is difficult to get out large amounts of cash at ATMs in many countries and this can make paying your excess problematic.
What Is The Coverage For Medical Emergencies?
Most standard travel insurance provides coverage for medical emergencies. However, one thing that you should know is what specific emergency procedure it will cover. It should include 24-hour care and emergency transport.
Does It Cover Personal Liability Claims?
You need to check if your travel insurance covers personal liability claims. This is for if you damage property or injure somebody while you’re traveling and your insurance may cover legal expenses and costs.
If you are looking forward to an upcoming trip, or even if you are already travelling and looking for new or better travel insurance, simply pop the info into the box below to get a bespoke quote for your travel insurance needs.
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