10 Ways Travel Insurance can Find You the Love of Your Life

For someone who travels to a foreign country more than two times in a year, opting for a yearly multi-trip travel insurance policy is a wise move, as it is the top cost-effective alternative.

A single trip policy is recommended in case you travel on a yearly basis and end up having one trip every year. When it comes to cost saving, a single trip policy is the best option to go for.

In case you opt for a yearly plan because you do not wish to explore outside Europe, you should restrict the policy coverage specifically to European travel. In this way, you will get sufficient coverage and you won’t be wasting your money on the coverage that is never required.

Keep this in your mind too; if you wish to go ahead with exploring outside Europe, then you can simply extend your coverage. However, it may cost you some additional charges. 

When you mix up the coverage for couples and families, it works wonder in your favour. You save more because you don’t have to insure each family member separately.  

An excess amount is defined as the sum of money that an insured has to pay towards any claim. You might have noticed that when the excess amount is higher, the policy is cheaper. Always make sure you are at ease with the selected level. Filing a claim is worth it or not, generally depends entirely on the excess amount.

For instance, if a piece of furniture worth Rs. 4000 was stolen during your holidays and you had just Rs. 2500, the insurer will pay the remaining sum worth, i.e. Rs. 1500 for the value of that furniture piece.

If you have a bank account that is paid for or a premium credit card, chances are high that you might have travel insurance already.

Try and avoid overlapping the cover so that you don’t end up paying double for the same cover. It can complicate the claims and you may have to pay more at the time of policy renewal.

Most of the travellers take valuable items like jewellery, a camcorder or camera, mobile phone or other handheld electronic gizmos and gadgets etc. with them when they travel abroad. This makes having the proper coverage for your personal belongings extremely important.

Over-insuring clearly means overpaying, which is for the unnecessary cover. In other words, when you over-insure, you end up paying for more coverage that you don’t even require. It won’t be beneficial for you when you need to file a claim.

At the same time, don’t be under-insured either, as it could leave you paying up for the expenses from your own pocket if you don’t have sufficient coverage.

Adequate coverage is necessary. Otherwise, you will be paying more and getting less in return.

When you purchase a holiday package from a travel broker, the broker will try his level best to sell you a travel insurance plan. He would do so to earn extra money as his commission. Buying travel insurance from a travel broker is not recommended because he will offer you limited insurance options and you will end up making an uninformed choice.

A comparison would give you a clear picture of the pros and cons of the travel insurance plans

You can use various comparison sites and compare various travel insurance plans. It will give you quick results and that too easily.

Last but not least, getting getting the right cover is a significant component of buying a travel insurance plan, which you must ensure when purchasing a policy. Otherwise, the purpose of having a travel insurance policy is not fulfilled.

Just keep in mind that the cheapest coverage isn't the right coverage. Keep your needs in mind and don’t take any travel-related risk.