How to Choose Travel Insurance

Planning a vacation involves many different considerations to ensure that the whole trip goes smoothly. Although buying travel insurance might not immediately come to mind when you list everything you need to do, securing it might just be the most critical preparation you make. Of course, choosing the right travel insurance can be a challenge all its own if you do not know what you are looking for.

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Travel insurance is meant to cover potential expenses caused by a variety of different mishaps that can occur during a trip. These can include relatively minor ones like cancellations or loss of baggage, or they can include more serious ones like medical costs or even accidental death and overseas funeral costs. Having travel insurance can save you a significant amount of money in case of an unforeseen catastrophe. Even though you never expect them to happen to you, unforeseen mishaps can occur at any time — perhaps especially while traveling. Therefore, it is critical that you protect yourself with insurance.

Having your travel insurance in order is especially important if you plan to travel out of the country. A sudden cancellation of one leg of an international trip can cause a significant added expense. Additionally, while overseas it can be difficult to secure the necessary money to cover your trip back home. This can leave you stranded in a foreign land with no money and no means of leaving — a stressful experience, to say the least. A travel insurance policy will be able to cover your return home and compensate you for any other losses. This can be a huge stress reliever, as well as a financial safeguard. So, how can you ensure that you purchase the optimal travel insurance policy for you?

Taking the time to go over the various types of travel insurance policies is the first step in making the right decision for your trip. There are four general categories to consider. The first basic type of travel insurance is the short-term or single-trip policy, which covers a trip of up to 90 days. The second is the long-term policy, which can cover a wide range of trips up to one year. The third is the expatriate policy, which covers people who are living overseas for an extended amount of time. Finally, the fourth is called foreign national coverage, which covers all non-U.S. citizens.

The price of a specific policy, no matter which category it falls under, can vary significantly. Of course, the more potential areas the policy covers, the more it will cost. A few of the other considerations that may impact the policy’s final price include your overall health, the length of the trip, your destination, and what activities you plan to participate in during your trip. For example, a high-risk sports trip, like a hang-gliding expedition, will cost more to insure than a weekend at a quiet bed and breakfast.

No matter what type of trip you are planning, the right travel insurance can be very beneficial, especially in the case of an emergency. Even though you are sure to be busy while planning your trip, it is still worthwhile to take the time to find the perfect travel insurance policy to keep you protected.

Guest post contributed by Gemma Hobbs, a freelance travel writer, on behalf of Covermore.com.au – Australian Travel Insurance specialists.

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