Basics

If you’re planning to travel this year in business class, economy class or first class, go armed with travel insurance. While arranging your flight, you may be offered travel insurance along with the complete package. Take some time out to find out whether it is a better deal and better insurance coverage for the money you have spend.

1. Before starting find out how often you will travel this year. A single trip policy may be the best choice if you’re making two to three trips in a year. Annual policies are also convenient if you’re traveling quite often.
2. Items that are covered in travel insurance include stolen or lost baggage, jewelry, cash, travelers check. Pay attention to the listed limits on the coverage you select and keep them in mind when packing your trip.
3. Medical coverage will include cost of basic care and cost of air ambulance.
4. In ‘New for Old Coverage’ option, insurance carrier will pay the entire cost for replacing items that have been lost or stolen or entire cost of repairing an item that has been damaged.

Take some time out to research your best travel insurance options. By doing a little planning you can select the right holiday insurance based on your needs and at a price you can afford. Along with business class, economy class or first class, travel insurance can be purchased. Travel insurance is not purchased based on the class.

Tips

First thing you have to look for is price. In addition to price, compare benefits that each policy offers, exclusions and other product features. Always choose insurance during cooling off period. Find out whether or not the policy meets your needs. If you are dissatisfied with what you purchased, then just cancel it and claim a full refund. If you’re a frequent traveler then you can save money by buying an annual multi-trip travel insurance policy. Credit card companies provide insurance coverage, if you buy tickets using their card.

Save money
Single or Annual policy:
Single trip policies can cover only one trip. But annual travel policies cover the traveler for every trip he or she takes in a year.

Europe or Worldwide cover:
If you’re planning to take a trip to Europe then it is cheaper not to get worldwide cover and Europe only insurance cover is significantly cheaper.

Specialist policies:
People who are going in for long periods like “gap year” trip, then the best thing would be to look in for a specialist policy, because annual insurance policies have certain limit on the length of each trip which is generally 30 days. Travelers going in for adventurous activities like skiing or hang gliding, specialist policy may work.

Check for previous coverage of insurance:
Certain banks offer travel insurance facility with certain accounts, so those who have one of these need not pay again.

Traveler can go safely to the required destination once he has adequate insurance cover, knowing that if anything goes wrong he or she doesn’t have to pay those expensive bills.

By: Sarah Jose