Travel Insurance
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Buying Your Policy
It's a good idea to buy travel insurance before you actually go on holiday. Comprehensive travel insurance generally covers trip cancellation, medical and theft situations. Here are some tips to remember when looking for the right policy, at the right price, for you.
Check your credit card. Your card might provide some insurance coverage if you pay your airline ticket with it.
It's safer to buy from an insurance company. A cruise line, airline, or other travel company may go out of business, and your insurance may not be honoured.
Understand the different policies for different travellers. There are single-trip, annual, backpacker, worldwide, ski and winter sports, and other specialty insurance policies. When you decide on a policy, make sure you know what activities it doesn't cover, such as certain sports (e.g., bungee jumping).
Make sure you understand the medical coverage. Does it cover repatriation to your home country, if necessary? Does it cover ambulances? If you are getting a policy for your family, make sure all members are included, as some policies have limits on the number of people. Also find out about pre-existing conditions.
Make sure you know the reimbursement amount. Many policies limit the amount of money paid to you in case of theft or damage. Also find out if everything you plan on taking with you, from jewellery to high-tech camera equipment, is covered. Make sure you know if you will be fully refunded if the trip is cancelled or cut short.
Know your deductible. Most policies require you to pay something first, so make sure it's not more than the value of your luggage.
Know the terms. Finally, make sure you understand whether the insurance will require you to pay for medical or other bills upfront and then reimburse you, or the policy will kick in immediately.
Shop around. Use the Internet to help you find a good deal on a policy that meets your insurance needs. Some places to help you are included in the link box on the upper right.