If you are wondering whether to buy travel insurance at all before undertaking a trip, the only question that essentially has to be answered is, “what do I stand to lose if I am not able to take the trip”. It is important to cover vacations, cruises and package tours. It is also important to cover your journey if you are traveling overseas or the vacation is of a longer duration.
Though you may be reluctant to pick travel insurance and not spoil your purchase of cheap flight tickets online, it is nevertheless a good idea to opt for travel insurance.
What does Travel Insurance Cover
If you have taken travel insurance and you are forced to interrupt or cancel your trip because of injury or illness, a missed flight, or any reason beyond your control, you will be given reimbursement for the non-refundable costs such as the flight tickets. However, travel insurance does not include health care expenses abroad.
How can I buy a good policy
f you have landed cheap business class tickets and have booked for a trip abroad, you can buy travel insurance policies from the travel agents that will cover you for the trip’s duration. However, the emphasis would always be for the policies that get them the highest commissions. In this context, it is a good idea to visit travel insurance comparison sites (Travel Insurance Review, Squaremouth, etc.). You can also buy your insurance directly from companies such as Allianz, Travel Guard, etc.
Cost of travel insurance
It is normal to be worried about the cost of travel insurance when you are planning your trip with cheap flight deals. The travel insurance cost depends on many factors such as the trip duration, your age, the cost of the trip, and other add-ons that you have opted for.
Typically, the cost of a travel insurance policy is about 3 to 5 percent of the trip’s non-refundable charges. In case the policy is the ‘cancel for any reason’ type, the charges are higher and typically cost 7 to 10 percent of the non-refundable costs.
Some of the provisions for certain policy are good only when the policy is purchased within 14 days of the initial trip purchase. Policies tend to get more expensive if you are older or you engage in risky activities.
Whenever you are thinking about buying travel insurance, it is important to read the fine print conditions as well. You can get clarifications from the insurer about any point that you have not understood. Every travel insurance policy comes with a window period of 10 days within which you can give back the policy.
This is for your information. Finally, it takes up to about 4 weeks to process any claim that has been submitted. Incomplete documentation can be a reason for holding up a claim. Any review of the decision can take up as much time as the initial claim settlement result.
Conclusion: Be safe with travel insurance, the most important is to enjoy each minute with the best vacation deals with cheap international flights rather than waisting worrying about the trip.