Buying travel insurance is something most people struggle with. The key to picking travel insurance is to not become bogged down in the mass of companies available. There are literally hundreds of companies to pick from, but you only want one. Your travel insurance company should be everything you need it to be, so here are few things you can do to make your choice easier.
You can get many quotes straight from the internet in a matter of minutes. You want to compare about ten different companies before you make your final choice. This can take some time, but the more quotes you get, the easier it is to get the best quote.
Well, you have your quotes, now what? Comparing your quotes can be extremely frustrating, especially since it seems insurance companies pride themselves in being as indirect and confusing as possible in writing. An easy way to compare quotes side by side is to look at their excesses. The excess in a policy is the initial amount of a claim that you will not be covered for. These usually range between $0 to the upwards of $500. For example, if you file a claim for a lost cell phone valued at $345, if your excess is $400 then your insurance company will not cover you. You want to find an excess that fits you personally, you do not want one that is excessively high, but the lower your excess is the higher the premium that you have to pay is. This should help you narrow down your selection.
Next, you want to take a look at what your policy does and does not cover. Sometimes we spend too much time worrying about what our policy does cover, and not enough time noticing what it does not cover. Look for anything listed under exclusions in your policy. Take into account that this is your policy, and if something you need is not included you might want to just keep looking.
Emergency assistance is always a good thing to review in your policy. Take note of what sort of assistance you will receive if you are in need. Compare the different policies you have and decide which you would feel safest having. Severe injury or illness could cripple you while abroad, so take the measures to know that you will be taken care of in your time of need.
After you have weighed the aforementioned benefits in each of your policies, you should look at their cancellation policies. The world is constantly moving and cancellations or delays happen all the time. You do not want to be left with a bill if there is any need for cancelling a trip. Life is unpredictable, and the plan that seems so concrete today, may be unsure tomorrow. Without a cancellation policy you could lose hundreds of dollars in trip reservations.
Weigh all your options before you decide on a travel insurance company. These are just the main points to consider while shopping, but you should always try to make your policy as customized to you as you can. Look carefully, and only pay for what you need.