subject: Travel Insurance – Points to consider [print this page] Travel Insurance Points to consider Travel Insurance Points to consider
Choosing to embark on just about any kind of trip can be a whole lot of fun. Whether it is for business or pleasure, travel is pretty exciting stuff: there are so many thousands of cities, towns and remote locales to see worldwide that you could easily travel your whole life and not see them all.
With all of that excitement comes a little bit of risk. And, for that reason, travel insurance was invented. Today, travelers with any size budget or background can easily afford some form of travel insurance. The types of coverage and coverage limit available range from the bare-bones to the elaborate. One type of travel insurance coverage that is increasingly sought after but that is not found in all travel insurance policies is that of trip cancellation insurance. Of course, most travel policies cover you when the carrier, airline, tour company or cruise operator cancel or delay your trip. However, only a handful of policies actually cover you when you (the traveler) decides to cancel.
If you are considering trip cancellation insurance, here are 5 points as you shop for the least-expensive policy that is right for you.
1. Every trip comes with some risk attached to it:
Just stepping outside your front door comes with a tiny bit of risk. But, the farther you travel and the longer you are away, that risk goes up.
2. You should not hold yourself back from travel just because of the risks:
That is okay: the presence of risk is no reason not to travel. No risk, no reward, right? It does mean, however, that you need to be prepared. That includes making good decisions about where to go, with whom you travel, what you will do when you get there, and even what foods you choose to eat. The good thing is that your risk is always mitigated when you take out an insurance policy before you embark.
3. A good travel insurance policy is recommended:
Travel insurance is no longer an exotic thing to buy or something that is meant only for the rich. Today, many average or even low-budget travelers choose to invest in travel insurance. If you want to minimize your financial and medical risk while traveling, you should consider investing in a policy.
4. Most policies do not automatically include trip cancellation insurance:
Most travel policies include coverage for incidents like lost luggage, medical emergencies, and delays. However, most do NOT automatically include coverage should traveler himself or herself actually decide to cancel the trip before they depart. For those situations, you would need to buy trip cancellation insurance.
5. Shop around with 3-5 insurance companies in order to get the best rate:
It can be tempting to buy your policy right at the airport or from your travel agent or tour operator. But, for the safest and usually most comprehensive policies, go directly to an insurance company that specializes in travel insurance. Make sure to shop around for the best rate by contacting multiple companies. Keep track of what you find out so that you can easily go back later to compare rates.
If you are interested in buying trip cancellation insurance, consider these 5 points as you shop for the least-expensive policy that is right for you.
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