Finding the Right Travel Insurance
By: Nektaria Stamouli
13 May 2010 Tell a Friend
Before we even noticed, we are in the middle of May. Summer is fast approaching and together with them our long-awaited summer holidays. Most of you have already started organising your summer excursions. As holidays are supposed to be stress-free, you should make sure travel insurance is at the top of your holiday list- even before your suntan lotion.
Travel insurance can give you the peace of mind of knowing that when you're travelling away from home, you're covered if your luggage were to get lost or stolen and your medical expenses would be covered if you fell ill. There are different types of travel insurance including annual and single trip holiday insurance, families and business trips. You can also find winter sports cover, golf equipment and scuba diving cover and insurance for backpackers and lost or damaged baggage.
Travel insurance was once considered to be a 'nice to have' product rather than an essential. However as we've seen recently that strikes and ash clouds are only two of the reasons that can hold you up on your travels, and so saving a relatively small amount by not getting yourself covered could prove to be a false economy. The insurance doesn't need to be expensive, and any accident or illness while overseas or any last-minute flight cancellations can leave many passengers out of pocket and far from home so it's much better to be safe than sorry.
Points to consider when buying Travel Insurance
When applying for travel insurance you will be asked to fill out a form with personal information, such as your date of birth, your gender and whether or not you are a smoker. These information are going to be matched against statistical data to decide how likely you are to make a claim and the final cost of the insurance will depend on the information you provided.
A single trip travel insurance policy is certainly the cheapest option. However, if you are of the lucky ones going on holiday twice a year or more, you should go for an annual or multi-trip policy. By choosing this option, you can save time - since you won't have to compare insurance policies each time you travel - as well as money. Just remember to check in advance of your trip that your policy covers you in each place you're travelling to and covers you for all the activities you're planning.
You should also take into account the age restrictions that insurance might have.