How To Buy Travel Insurance

credit: Joshua Davis (jdavis.info)

Buying insurance is always about weighing the odds, and now, more than ever, it seems that travel insurance is well worth the gamble. However, as you plan where to go, investing your hard-earned cash, devote a bit of time to the best travel insurance for your needs:

• Do your research: There are many types of travel insurance out there, covering all different possibilities: do you need trip interruption, trip cancellation, disaster insurance?
• Make sure you’re not already covered: Your homeowners’ or renters’ insurance may already cover certain things — like theft — away from home. Evaluate.
• Consider your credit cards: Certain credit cards and auto clubs cover several travel aspects, like accidental death.
• Go third-party: It’s always best to get insured from a third party, in case your cruise carrier or travel agency goes under.
• Question, question, question: Don’t hesitate to ask about every detail you’re unsure about.
• Get the details on trip cancellation: Many times, insurance won’t cover natural disasters or other dramatic events, so get all the details one what is covered by trip cancellation.
• Steer clear of the vending machines: They’re expensive, and rarely cover more than your credit card or life insurance policy.
• Know the details of a cancellation waiver: Many cruise and tour agencies will offer you a cancellation waiver for $40-$60. Before purchasing, figure out what’s covered and, more importantly, what’s not.
• Decide whether to purchase extra insurance: If your homeowners’ policy doesn’t cover it, it may be worth insuring expensive equipment, like laptops, video cameras, and DSLR cameras.
• Consider emergency medical assistance coverage: Depending on your vacation, you may be running some big risks. If you’re accident-prone, consider emergency medical services as a must-include for your trip insurance.

Tags: Cruise | Insurance | travel