By Emily Miller
It is common knowledge that the big ticket items for any vacation generally includes the plane ticket, hotel, possibly a rental car and food. But, too many travelers forgo purchasing travel insurance as they either forget it entirely or believe it is not necessary.
However, travel insurance can be a lifesaver if you need to cancel your trip at the last minute, have a medical emergency rendering you unable to travel or luggage gets lost or stolen.
It’s a worthwhile purchase you hope to never use but will give you a peace of mind that everything will be okay, so you can fully enjoy your vacation.
Like any other insurance product, it is extremely important that you purchase your policy from a reputable insurance company that has a long history of dealing out travel insurance policies.
In fact, your home or auto insurance company may offer a travel insurance policy that can be added to your existing policy. By going this route, you can secure a policy quickly without having a research a new company.
It is also important to note down your concerns and insurance needs prior to buying travel insurance. By doing this, you can eliminate the time you spend sorting through different policy options, as each plan in different.
For example, a comprehensive plan covers just about everything from a canceled trip to damages to accidents and even evacuations while a medical plan only covers health related issues that may prevent you from traveling.
Travel insurance rates are now lower than ever, which gives consumers even more of a push to purchase some sort of policy. But keep in mind that purchasing the cheapest policy isn’t always the best option, as the coverage may not fully meet all insurance needs.
Coverage should be purchased based off insurance needs rather than based off the purchase price. Both factors could be taken into account before any decision has been made.
If you are traveling by budget airlines for only a short distance, a cheaper policy with just repatriation, medical and personal liability cover may be your best option.
However, if you have scheduled an elaborate cruise or vacation that cost you thousands of dollars, you might want to consider purchasing a larger policy as you have more to lose, if something were to happen.
As with any type of insurance policy, make sure you read the fine print before purchasing a policy and make note of any exclusions, if there are any.
