Travel insurance is a necessity, much more so that the normal insurance coverage you take usually. This is because any misfortune that strikes you while you are travelling is usually 5 to ten times more potent when compared to the similar misfortune at home ground. When you are travelling in Bali and injure your knee, the best medical facilities will need your evacuation, which can cost a pretty penny. Keeping the cost benefit analysis of such risks in mind, in this article we note some factors you should consider while comparing travel insurance from multiple providers.
Insurers that provide this type of insurance providers can be broadly classified into two groups: one is the companies which specialize in insurance, and the second is the tour operators, travel agents and travel suppliers which specialize in travel but give you the option of buying insurance with their product. It is seen that insurance offered by the latter group is less inclusive than the one offered by insurance companies. So if you need more coverages, you are advised to approach the companies and inquire about their policies.
Travel Insurance Comparison Tips
The cost of insurance while traveling depends on a number of factors. These include the age of the insured, the type of cover, the destination and pre-existing medical conditions. The last are usually excluded from medical coverage. All things being equal, the following tips should be borne in mind when comparing insurance offered by different insurers:
- Read the product disclosure statement fully, and carefully note the differences between two or more policies. Some policies may look similar on surface, but in reality there may be some caveats in one policy that might not be present in another.
- Check the type of pre-existing conditions different policies rule out of medical coverage
- Check the stance of the policies viz-a-viz what are called dangerous activities. These may include activities such as surf-boarding, mountain climbing, bungee jumping etc.
- Talk to the insurers about their policies to clarify any doubts before deciding the policy you will use
Taking all these factors into consideration will help you decide the most suitable insurance plan for your trip. Travel safe, and travel insured.