Factors to consider while buying travel insurance

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Trip Cancellation Medical Insurance

Trip insurance plans are commonly known as trip cancellation or trip interruption insurance.

The cost of travel insurance depends mainly on the following factors :

  • Age of the Traveler: The older the traveler, the higher the cost of travel insurance.
  • Cost of the Trip: The more expensive the trip cost, the higher the travel insurance cost.
  • Length of the Trip: The longer the trip, the more expensive the cost of travel insurance.
  • Travel destination: The cost of healthcare in the travel destination determines the cost of travel insurance. The US has very high healthcare costs, and hence travel insurance is also more expensive.
  • Coverage Benefits and coverage amount: The cost of travel insurance depends on the type of coverage benefits included and the maximum coverage required. The higher the coverage, the higher the travel insurance cost.
  • Add-on benefit coverage: Any additional benefits such as - Cancel for Any Reason (CFAR) ,Adventure sports, Vacation rental - add to the cost of travel insurance.

The cost of travel insurance typically averages around 5% of the trip cost. We also have customer pay 10% to 15% of the overall trip cost for travel insurance if they seek specific higher coverage. Given the uncertainties with travel due to the Covid pandemic and the Ukraine war, the cost of travel insurance is definitely worth it.

American Visitor insurance works diligently to provide travelers the best travel insurance options both in terms of coverage and price. The Covid19 pandemic has made it particularly important for travelers to take extra precautions and cover all facets of their travel. Given the rapidly evolving health and hence travel conditions, it is prudent for travelers in an event of emergency to be able to cancel their travel without much financial loss due to their trip costs. The financial costs of a cancelled trip can be best insured by the Cancel for any reason (CFAR) insurance option. CFAR insurance covers pre-paid, non-refundable expenses in a cancelled trip.

Trip cancellation insurance

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Declare the precise travel days
Paying attention to the fine print while buying travel insurance. Some mistakes like a wrong travel date can cause problems in the event of a trip cancellation. While calculating the number of trip days be doubly sure that you get the correct number of days and the travel dates and travelers should consider the actual travel date. Also, do make a note of different time zones in the country of travel as this can impact travel dates.
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Multi Destinations cover
When traveling to more than one country in your trip do make sure that the policy covers all the nations that are in the itinerary. Again, make a note of different time zones and its impact on travel dates.
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Pre-Existing Medical Condition
Coverage for pre-existing medical ailments is very important especially for older travelers. It is very important to understand the correct coverage for pre-existing ailments as different travel insurance plans have different coverages for pre-existing ailments and the look back period.
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Including extra riders in the insurance policy.
Traveling on an adventurous holiday is fun however if you have planned for activities that are risky, then you may want to check with the insurer for a specific cover that includes the activity you want to do during your trip. Activities like skiing, skydiving and bungee jumping are considered high risk activities. Check with the insurer if you can add an extra rider (cover) to the policy to have yourself covered for the complete trip.
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Baggage coverage
Get clarify on the baggage coverage as expensive articles may not be covered unless they are specifically declared with the insurer. Most travel plans clearly state the amount that can be claimed as personal belonging. Calculate the approximate amount and choose a policy that suits your requirements. If you are carrying expensive items, it might be prudent to get specific coverage by paying extra premium for specific baggage items.
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Coverage for burglary and theft
During the trip if there has been a theft of your belongings, make sure to have an official report of the theft immediately. Most insurance companies require the traveler to produce an official report of the theft to process the claim. A police case needs to be filed within 24-48 hours of the incident. So visit the nearest police station as soon as possible to get the theft report.
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Missed Flight Coverage
Arriving at the airport well ahead of time is strongly recommended to avoid delays and missing flight. Missing the flight for any reason is usually not covered in the insurance policy. Leave home with plenty of time ahead of departure time. Missing flights always adds on to more inconvenience. You can always check with your insurer for missed flight cover in your policy.
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Purchasing the travel insurance early
When you plan for a trip always include all the necessary travel documents at the earliest. It is advisable not to leave buying your travel insurance to the last minute. Trip cancellation insurance is available if purchased with a certain fixed days of paying the initial trip deposit. In the event of any unexpected cancellation of the trip you can be ensured that your trip would be covered to a certain extent.
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Select the appropriate travel insurance deductible
The deductible selected impacts the cost of the policy. The lower the deductible the higher the insurance premium, the higher the deductible the cheaper the insurance premium. It is common for travelers to choose a higher deductible in order to get a cheaper insurance premium. Choose a deductible amount that best fits your needs.

There are several insurance companies who offer policies that are very attractive with affordable prices. However one should keep in mind that regardless of the price, travelers should ensure that they are insured completely. While most of the travel insurance covers have a list of trip cancellation benefits, Cancel for Any Reason can provide extra coverage that may be worth the extra cost.

Travel insurance - FAQs

My credit card has travel benefits on it already, so why should I buy a trip cancellation insurance plan?

There are some very advantageous credit cards out there to help travelers, particularly with money exchange fees when making purchases abroad. However, you should look over your benefits carefully. Certainly travel items charged to the card may be covered and refundable, but what if you get sick at your destination? What if your luggage is lost? What if you need to quarantine or get delayed in one leg of your trip? The best trip cancellation insurance can put your mind at ease.
These best travel insurance are specifically designed to help in all aspects of travel from interruptions that may come up (an emergency back home), unintended trip delays (testing positive for COVID, missing a flight or having a flight cancelled), helping you get your minor children home if you can't, and medical expenses should you become sick or hospitalized. There are plans to help you get your pet home safely and insure your expensive golf clubs or sports equipment get with you to your destination! You have invested so much into your trip planning, you may as well have full peace of mind that your investment is protected and you are taken care of by experts who have dealt with the most unlikely of scenarios!

US Travel insurance that covers Covid quarantine expenses

The Covid19 pandemic has disrupted international travel across the globe and different countries are trying to shield their nations by enforcing strict safety measures for international travelers. Some countries are also insisting on Covid19 travel insurance with quarantine coverage should the traveler test positive for the Covid virus while traveling in the country. International travellers can compare and buy the best Covid19 Quarantine coverage travel insurance plans:

TrawickSafe Travels Voyager

  • Covid Quarantine Benefit: Coverage for accommodations due to a covered Trip Delay $2,000/$150 per person per day (6 hours or more) is included in the basic coverage.
  • Optional Quarantine Benefit Upgrade at additional price Trip Delay Max Upgrade - including Accommodations (6 Hours or more) $4000 ($300/day) or $7000 ($500 per day).

TrawickSafe Travels Explorer

  • Covid Quarantine Benefit: Coverage for accommodations due to a covered Trip Delay $2,000/$150 per person per day (12 hours or more).
  • Covid19 medical expenses are covered and treated the same as any other sickness.

hth logoTrip Protector Insurance

  • Covid Quarantine Benefit: Coverage for accommodations due to a covered Trip Delay. Maximum - $2,000 ($200 /day )(6 hours).
  • Travel insurance for US Citizens and US Residents traveling outside US.
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