7 Things that you must consider while taking travel insurance

Are you planning a trip to Himalaya or Mexico? Before you start for the hills, make sure that you have sufficient insurance coverage. Travel insurance has become very popular nowadays. But before buying travel insurance, you should consider few things. This article highlights 7 things that you must consider before taking a travel insurance policy.

Things to consider before taking travel insurance

 The 7 things that you must consider while taking a travel insurance policy are given   below:

1. Get acquainted with what’s out there: Generally speaking, travel insurance consist of trip interruption, trip cancellation, accidental death, transportation to medical facilities, medical and dental care, loss of luggage or personal belongings, and protection against the bankruptcy or default of your tour operator. Check whether the particular insurance company is providing these coverages.

2. Check whether you’re already covered: Most of the homeowners’ and renters’ policies give coverage for theft and other losses away from residence. Your medical and auto insurance policy might be valid in other countries. Your life insurance policy ought to cover you and your family while you are traveling. And airlines are required to reimburse you if they lose your luggage. If you are already covered, then there is no need to take a travel insurance policy.

3. Ask the right questions: When you are shopping around, you should ask insurers about the type of disasters they are covering. You should also ask about the limitations and the kind of assistance will you get in the event of a medical emergency.

4. Check your credit cards and auto club membership: You should find out what kind of travel protection are you getting from those little plastic cards in your purse. Some cards like The American Express Platinum provide accidental death and dismemberment coverage, extra lost baggage protection, and insurance for car rental loss and damage.

5. Consider extra coverage: You should consider a floater for your existing homeowners’ or renters’ policy when you are traveling with sporting gear, expensive electronic equipment, or jewelry. This might be a fairly cost-effective way to insure those items.

6. Buy through a third-party insurer: It is true that tour operators, travel agents, and cruise lines sell travel insurance, but you should take travel insurance from an insurance company that has been in the market for many years. You should also compare the travel insurance quotes offered by the different travel insurance companies.

7. Understand cancellation waivers: Several cruise and tour operators offer cancellation waivers up to $40 to $60 in case you have to cancel your trip.  Though the waivers give some protection, yet they often have numerous restrictions and are not monitored.

These are 7 essential things that you must consider while taking a travel insurance policy. Also, don’t forget to read the contract before signing it.