Many travelers are often on the fence on whether or not it is a good idea to pay for travel insurance. One thing is for sure, it is always best to be prepared and ready rather than regretful and sorry when the unthinkable happens. However, the answer to the question of whether or not to get insurance for your next trip may not always be a YES!
Here are some helpful hints to guide you in making your final decision:
First, it pays to review all of your existing insurance policies. Check t and determine if any of these offer coverage for medical emergencies overseas or even away from your own state or province. This is especially important if you have a pre-existing medical condition or if you are simply worried about getting sick while you are on the road. If you are paying for a superior medical insurance package, it is most likely going to be good news for you.
Second, inquire about the perks offered by your credit card company especially when you are a gold (or equivalent) credit card holder. You may be entitled to first-class travel bonuses if you make use of your credit card to purchase airline tickets, hotel bookings and tour reservations for your trip abroad. Call your card’s customer service department and inquire if you are insured against baggage loss, medical emergencies, evacuation, and accidental death and dismemberment, among others. And in cae you are looking to receive training on cpr, contact cpr london training with c2c and reduce the risk of casualties during an accident.
Ask you card provider if there are any conditions or restrictions as often 100% of your trip expenses must be charged to the card to qualify for the insurance. On some cards you actually have to activate the insurance coverage and their may be a fee from the provider. Also, don’t forget to obtain from your credit card company a working telephone number that you can call if and when the need arises while you are away from home.
Third, it is good to know that there are various kinds of travel insurance products and it is possible to limit your coverage (and the cost) according to your preferences. Two of the most common types are of packages are medical insurance and trip cancellation insurance.
Some medical insurance policies offer wide-ranging protection related to your health and medical condition, which may include emergency medical evacuation to a nearby hospital or transport all the way to your home country. Again, check the policy and know your insurance coverage to be sure.
Trip cancellation or trip interruption insurance, on the other hand, will offer reimbursements (up to 100% or a limited covered amount) for what you have initially paid for a cancelled or interrupted trip due to unforeseen covered events. It is important to note that not all causes for cancellation may be covered by your insurance policy so it is important to check if death of a travel companion, assault, or terrorism are covered causes on top of natural disasters and traffic accidents, among others. Of course, you can also get a comprehensive travel insurance that combines both medical and travel cancellation risks and all other imaginable travel hazards, albeit for much higher premium.
If your existing insurance policies or your credit card company offer insurance coverage that you deem sufficient, then you may not need to get a separate travel insurance for your upcoming trip. However, if you are not covered, it also pays to research on your travel destination to determine what type of travel insurance you will need to secure.
If you are traveling to a modern metropolis with a good medical emergency response, then you may not need to get insurance coverage for emergency evacuation. However, if you are going for an adventure trip to a remote destination, then such coverage may be a must for you. Also, if your initial prepaid investment for your upcoming trip is negligible and you don’t mind losing your deposit, then you can forgo a travel cancellation insurance. However, if your pre travel non-refundable deposits have already cost you thousands of dollars, then paying less than 10% of the cost for insurance coverage may be worth it.
In the end, you will have to evaluate your travel insurance need before you ultimately decide to get coverage for your trip abroad. Failure to protect yourself and your travel companions can end up costing far more than the price of a good travel insurance package. At the very least making a study of your needs before you travel will place you in a better position to understand your possible exposure and risks.
Do you purchase travel insurance for your trips?