Vacation Travel Insurance Tips

October 3, 2013 by  
Filed under Traveling tips

Travel insurance is an important but often overlooked part of your vacation. Whether you are traveling to a foreign country or to the next state you should consider travel insurance.

Some of the reasons to have insurance are to cover medical expenses, life insurance for your family, or trip insurance when something goes wrong.

If you have medical coverage, check with your insurer to find out the specifics regarding your planned destination.

You can buy medical coverage for the duration of your trip or for longer periods. Some travel insurance policies cover multiple trips of specific duration. Some will cover you for travel up to a year.

Planning a skiing or mountain climbing vacation? You may want to consider evacuation insurance. If you need to be rescued it is quite possible that the you will end up with a hefty bill to pay for the service.

If you are going on a cruise, taking an organized tour or just flying on an airplane you may want trip cancellation insurance. You or a family member may get sick at the last minute or your plans may change unexpectedly.

Many companies do not offer refunds and you could be out thousands of dollars. There are many things out of your control that can mess with your plans. Refunds are tough to get sometimes.

Other popular coverage is loss of baggage, baggage delay, travel delay, dental, 24 Hour Traveler Assistance, and accidental death.

If you are driving out of the country definitely check with your auto insurer. Purchase any extra coverage needed. You may want to ask about an international roadside assistance policy.

Auto breakdowns and accidents are bad enough at home but the problems are compounded abroad.

Check with your credit card company. You may have some coverage if you purchase your vacation with their card.

If you are traveling with a group you may be able to get coverage cheaper as a group rather than individually.

Sometimes you will pay more for less coverage if you buy it through a travel agent who makes a nice commission. This is not always the case but it’s your money. Shop around for the best deal.

Visitors Medical Insurance

September 18, 2013 by  
Filed under Travel information

Foreign travel can be both exciting and challenging. Travel planning calls for a lot of thought and time. Often healthcare needs of travelers are overlooked. This oversight can turn an otherwise great trip into something out of a nightmare.
These are some important steps you must take before you undertake any travel:

1. See your primary care physician and discuss your needs during your foreign travel. Ensure everybody is current with immunizations. Many Asian and African nations demand proof or certificate of vaccination. These requirements can be obtained from your travel agent.

2. Study your current health insurance plan to determine if it offers adequate coverage overseas. If it is not clear check with your insurance company about what is covered and excluded during overseas travel.

3. If your current health plan doesn’t offer coverage for medical expenses and medical evacuation it is prudent to consider foreign visitor insurance. If your travels are short term then you can consider a visitor medical insurance policy. If you are out on a long trip spanning several years then you can consider a more comprehensive international health insurance plan offering regular pregnancy and preventive healthcare benefits.

The premium for the plan is influenced by your age, the type of benefits and the length of coverage. It is best to speak to an experienced visitors insurance professional. Ask the right questions and ensure you protect your most important asset – health.

Rental Car Insurance Types, Coverage, And Recommendations

July 18, 2013 by  
Filed under Traveling tips

When looking at the different options for car rental insurance in the United States, you will generally run into five options. These are Loss Damage Waivers (LDW) which are also commonly referred to as Collision Damage Waivers (CDW). There is also Liability Insurance Supplement (LIS), Personal Accident Insurance (PAI), and UMP, which is Un- and Underinsured Motorist Protection. The fifth option is to not take any rental insurance at all, but we’ll get back to that one later.

LDW/CDW takes care of pretty much everything. It takes care of your own risks, plus if the car is stolen or damaged, then Loss Damage Waivers will cover the entire cost. This is by far and away the best insurance for car rentals as far as coverage goes—but the price reflects it. Many places charge $20-30 per day for this type of insurance, which means even a single week can cost you an additional $210. This insurance can be, and often is, even higher if you rent a full-sized or luxury vehicle.

Liability Insurance Supplement is often in addition to whatever other insurance you purchase. LIS covers you for the costs of any damage or injuries that are a direct result of an accident you are involved in. LIS is usually much cheaper than LDW/CDW, but this may still cost you $8 a day and it adds up, though there is a definite degree of reassurance from knowing you are covered.
The two other insurances that are generally offered are Personal Accident Insurance and Uninsured Motorist Protection. While both of these may seem appealing at first glance because of cheaper prices, don’t be fooled. There is almost never a situation where you actually need one of these. If you’re going to buy insurance for a rental car, then buy the larger policies that are more inclusive. Saving $5 a day won’t help if you get into an uncovered accident.

Then there was the fifth option: not buying any. Insurance is expensive, so it is important to see if this actually is an option for you. Some car insurance policies automatically cover rental cars, which makes any rental insurance both superfluous and fiscally unsound. Also see your credit card company’s policies. Some of the more respectable credit cards have a policy to automatically cover you as long as you put the rental on that card. If either of this cover you, that is a much better route to go than rental insurance from the agency itself.

All of that being said, make sure that you are not under insured. Otherwise if you are involved in an accident you might end up paying for any damages you shouldn’t have to pay for. Always check each insurance policy for coverage and cost, and make sure the first makes it worth the latter.

International Travel Medical Insurance

June 25, 2013 by  
Filed under Traveling tips

International travel for the retired is here and booming! As a consequence so is the need for International Travel Medical Insurance. But whether you are 6 or 60 the need for international travel medical insurance is true for everyone, regardless of age or length of time abroad. Suppose you fall ill just a few hours after arriving at your destination. Or you make a trip to another country and you are injured in an accident? Or one of your children is part of a group making a visit abroad, gets food poisoning and requires hospitalization. In all cases, without adequate travel health insurance, you will be responsible for the costs above and beyond the limitations of your existing medical plan.

International travel insurance is normally used by short-term travellers, mostly on holidays and pleasure cruises. Apart from covering medical expenses for a short travel time, it also covers emergency medical evacuations and trip cancellation refunds.

Travel medical insurance is meant for international travellers who have to go abroad quite often. There are a number of travel medical insurance companies that give support to thousands of travelling people on travel medical programs. These programs are meant to provide medical protection and assistance services in cases where people develop medical problems outside the country.

To avoid any potential medical disasters, wise travellers are prepared by carrying health insurance coverage. Check to see whether your regular health insurance takes care of medical costs in other countries. If it does, what is the extent of your coverage?

On a sombre note, have you thought about repatriation of mortal remains? In case of death the travel health insurance company will bear the cost of returning the mortal remains of the insured.

Before you leave check your policy document or contact the insurer to confirm what precise steps your insurance company requires you to take in a medical emergency. If you have to buy any treatments or medicines, again keep receipts and original prescriptions if possible.

Always read the fine print. Accidental coverage is not provided in case of drunken driving, driving under the influence of narcotic substances etc. Exclusions are also provided for accidents during risky sports, that means in case of accidents in these situations the insurance company is not liable to pay any amount to the insured.

Many travel insurance companies also feature discounts for owning multiple policies with them or for maintaining a good driving record. A group package is intended to cover school travels, such as sporting events, group travel, or any travel that carries ten or more individuals. Since the family packages are restricted, covering only the immediate members, the extended polices may be needed to cover additional parties. Thus, few insurance companies may offer up to 10% discounts, while others may offer more or less.

You can determine which insurance is best for you and your situation by learning about the different kinds of coverage offered by the insurance companies your familiar with. By simply phoning to get more information you’ll learn and discover the options available for your particular type of trip and destination.

Be completely open and honest about your medical history and any activities you’re likely to take part in, whether you think they’re risky or not. As with any insurance policy; if in doubt declare it anyway. One of the most common defences made by insurers when declining a claim is that information was not disclosed or not correctly disclosed. Declare everything and document it.

So, if you are planning to travel, whether it is for business or for pleasure, you should definitely think about getting a single trip insurance policy. The comfort, peace of mind and assurance you will enjoy while travelling far outweigh the premiums you will pay. In case something goes wrong, you know that you will receive the best compensation and benefits.

Finally, check your existing insurance policies for possible coverage. There is no sense in paying more for what you already have in your homeowner or tenant policy, such as theft and loss coverage.

10 Tips When Buying Travel Insurance

March 6, 2013 by  
Filed under Travel information

Although perhaps not the most glamorous topic in the world, travel insurance is nonetheless an essential part of the holiday process. And unlike the fairly straightforward process of asking ‘which hotel should I stay in?’ getting the right travel insurance can be as confusing as it is frustrating!

This is, hopefully, where I come in. As the managing director of Insuremore (http://www.insuremore.co.uk) I like to think I know a fair bit about the whole area. I’ve assembled this guide as something of a ‘top 10 things to look out for’ when purchasing travel insurance.

And the common question I get asked all the time is whether I think travel insurance is worth buying. Given my line of work, it’s pretty inevitable that my answer will be ‘yes’ but the reason isn’t just because of the extra money it will ensure I receive! Y’see it’s true that the majority of people go on holiday, have a memorable time and come back without any ill consequences, but a small percentage of people will have an unexpected hospitalization or find that their flights are canceled. And believe me, in those instances trying to get help without travel insurance is not only expensive, but horribly stressful. Indeed, the best benefit of travel insurance is the peace of mind it gives the policy holder. A holiday should be about relaxation (or possibly getting your skin to become as lobster like as possible judging from recent case studies!) and how can you relax when you’re constantly on the lookout for illnesses or injuries? I’m sure that even if you could have relaxed before reading this, you will be worried now! So without further ado:

1)Don’t leave your travel insurance until the last minute

Okay, people don’t like to spend money – especially immediately after dropping a load of cash on an expensive holiday, but not getting your travel insurance sorted out immediately can be a massive mistake as you miss out one of the key aspects of it – cancellation cover. Although you may think that there’s no way you’ll cancel, life is full of the unexpected, and we deal with people canceling their holidays due to family emergencies everyday.

As your holiday gets closer and closer, the chances of you needing to cancel are heavily reduced, so you completely lose the benefit of part of your insurance if you don’t sort it out nice and early.

2)Don’t settle for single trip cover if you’re going on holiday more than once

On the subject of single trip cover, is that really what you need? According to a 2004 study by Alliance & Leicester, 2/3rds of people plan to take two or more holidays a year. If you’re in the majority here, then single trip insurance will not be the best priced option (unless you have a phenomenally good value insurance provider) and it’s worth considering multi-trip or annual.

3)Your E111 health card alone will cost you for medical cover

Don’t think that just because you have your E111 European health card you will be covered for free – that’s a myth. You do need the card to show hospitals in the event of an emergency, but you will be charged by the country’s private healthcare system. Make sure your travel insurance covers illness and injury!

4)Be honest about any medical conditions you have

On a similar note, make sure you tell your insurers of all your medical conditions even if they seem irrelevant – too much information is a good thing in this case, as not providing details could later invalidate any claims you need to make.

5)Get the right policy for your holiday

Just like how there are different holidays for different tastes, there are different policies for different people. If you’re looking to go backpacking, skiing or mountain climbing, you’re going to need to track down a policy specifically for these activities to ensure you’re covered in the event of an accident.

6)Buy for the family and save

As I’ve already mentioned, there are different types of insurance for different cover – generally, companies offer single, multi trip, annual and family travel insurance policies. Predict how much you expect to be abroad and buy accordingly. If you are in a family, then it stands to reasons that family insurance is a good option – and some policies include the insurance of under-18s for free!

7)Know exactly what you’re covered against

Cheap travel insurance may seem like a bargain – and there are plenty of legitimate companies offering cheap travel insurance out there – but make sure you go through the policy with a fine tooth comb to ensure you’re not missing out on key coverage, such as cancellation and theft. As a rule of thumb, if something seems too good to be true, it probably is!

8)Check out the excesses on the policy

Actually, it’s worth going through any travel insurance policy with a fine tooth comb – cheap or otherwise. The excesses on different policies can make a huge difference, and it’s a good idea to find a policy with a lower or no excess on an area you think you are more likely to end up claiming on!

9)If you’re under the influence, then you won’t be covered

Sounds obvious, but we often get claims like this, so I’d best cover it: No travel insurance company will pay up on any accidents occurring while the policy holder is under the influence of alcohol or drugs – the policy is not there to allow you to behave more recklessly than you normally would!

10)Look for a company that covers against acts of terrorism for peace of mind

In the current climate, insurance against acts of terrorism is something we’ve found people to be calling out for, and sadly, most companies do not offer it as default with their policies. If I may be allowed a brief plug however, it is something that we at Insuremore include in our travel insurance packages for that extra peace of mind. If it is something that’s worrying you, it is worth ensuring it is part of your policy.

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