How To Choose Travel Insurance

More and more travelers are buying travel insurance. Before purchasing insurance, learn about the pitfalls and advantages of different types of travel coverage.

Instructions

  • Step 1: Read each travel insurance company's plan when comparison shopping. Look for coverage exclusions like pre-existing medical conditions, tour operator breach of contract, or cancellations due to weather and acts of war.
  • Step 2: Learn about international medical insurance if you're traveling abroad for 2 weeks to 2 years. American-style coverage includes co-pays and deductibles. Some emergency medical policies will transport you to a facility of your choice.
  • FACT: In 2007, a British travel insurance company began offering travel policies for commercial travelers to outer space.
  • Step 3: Visit travel insurance comparison web sites that discuss policies covering specific events. For example, "cancel for any reason" policies assure reimbursement for non-reimbursable trips.
  • TIP: Some medical travel plans do not cover quarantines for epidemics such as H1N1.
  • TIP: The Social Security Medicare Program does not provide coverage for medical expenses outside the United States.
  • Step 4: Call your insurance agent to find out if your existing policy already covers travel medical insurance or business travel insurance. Read all the fine print. Check your major bank cards for travel medical insurance coverage.
  • Step 5: Ask yourself which travel event is your main reason for buying insurance. Such events can include trip cancellations or delays, international medical expenses, and accidental death and dismemberment.

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