While traveling to a foreign land is exhilarating, facing an emergency overseas can be downright intimidating -- and expensive -- meaning travel insurance is a must. Whether you travel for business or pleasure, travel insurance is a way to minimize your risks while away from home.
Types of Travel Insurance
There are many different types of travel policies available, designed to cover a range of possibilities. Some types are:
- Medical Insurance
- Trip Cancellation
- Trip Interruption
- Third Party Liability
- Weather Insurance
- Theft Insurance
- Accidental Death
Things to Consider
Before you buy insurance, determine your needs. You may not need all of the available coverage. Ask yourself the following questions:
- Are you traveling to an unstable region?
- Are you traveling to an area of high crime?
- Are you traveling to an area with volatile weather?
- Are you traveling with children?
- Do you or anyone in your party have a medical condition?
Tips for Buying Insurance
- To avoid buying unnecessary insurance, check all existing policies to find out if they cover loss or damages occurring outside the country.
- Find out if you will have to pay for damages up front and be reimbursed later.
- If you are traveling to a vulnerable area, find out in advance if loss or damages due to terrorism or war are covered.
- Ask about the exclusions -- you need to know what is not covered.
- Read the fine print.
- Buy from a reputable company.
- If you travel frequently, consider a year-round policy.
Wading through all of the information concerning travel insurance can take the fun out of your trip. LoveToKnow writers strive to do some of the research for you, leaving you free to plan your vacation.