You may think you know how to compare travel insurance plans, but you really have to ask yourself whether you are not making any mistakes. The reality is that most travelers make mistakes that cost them money. Use the following advice to avoid these mistakes and save.

1) Not using a comprehensive travel insurance comparison service

In the past, travelers used to compare travel insurance plans with the help of an agent at their office. Now things have changed. Now you can use comprehensive online travel insurance quote services for free. You can get plans from travelinsurancecenter.com or compare travel insurance with comparethemarket.com. All you have to do is fill out a short application form for requesting quotes and you will get them automatically. In this way, you save time and effort.

2) Not looking into eligibility criteria first

Most travelers care only about the price, when they compare travel insurance plans, and fail to check the eligibility criteria first. There is no point in comparing policies that you are not eligible for. The most common eligibility criteria set by US and UK travel insurance companies have to do with age and general health. Many policies are available only to individuals younger than 65, so those over 65 at age 89 and under, must look for special covers. Similarly, you if you have any pre-existing medical conditions, you will need to request a special policy instead of comparing general ones.

3) Not comparing likes with likes

You cannot compare holiday insurance to global and expatriate insurance. Similarly, you cannot compare standard family trip insurance with winter snowboarding insurance designed for a single person. In order to avoid making this mistake which can only bring confusion, you need to decide what type of cover you need in advance. Select between single trip and annual multi-trip travel insurance first. Then, narrow down your choice even further based on the destination you travel to, whether you travel for business or for pleasure, whether you travel alone or with your family and whether you will enjoy any sports and hazardous adventure activities during your trip.

4) Not checking for any restrictions and limitations

This is probably the biggest mistakes you can make when you compare travel insurance plans. There can be all sorts of restrictions and limitations that are mentioned in the fine print, so you should not miss to read the full terms and conditions for the policies you consider buying. Common examples of restrictions and limitations include trip duration restriction to 90 days in length, baggage and personal belongings coverage excluding valuables and adventure travel insurance that excludes some hazardous activities. In some cases, even something as necessary as medical emergency repatriation may be excluded from an accident & sickness medical coverage.

5) Not looking for ways to save on each policy

There are numerous ways to save on a policy that you should consider when you compare travel insurance plans. For instance, if you have a European health insurance card, you can buy smaller amounts of medical coverage and save. Similarly, if you have international travel insurance from TFG global insurance solutions, for instance, you may need to buy limited amounts of this coverage. There are also plenty of discounts for frequent travels and multi-policy holders. You can also get a discount if you get quotes and purchase instantly online.

6) Not calculating the savings you get into the prices of the policies

This may go without saying, but a lot of travelers do not do it when they compare travel insurance plans. There is no point in comparing quotes, if you will not take into account the real price you will have to pay. By avoiding this mistake, you will be able to get more comprehensive travel insurance coverage at a more affordable price.

7) Not checking the rating of each insurer

The deal may be comprehensive and the cheapest one you have found. However, if the licensed insurer is not reliable and has a slow working company administration, you will not be able to get the compensation you need on time. That is why you should check the rating of each of the companies you plan to buy coverage from. You can easily check the different carriers AM Best ratings online. It will not take you much time, but will give you a peace of mind.

Now you know how to avoid major mistakes when you compare travel insurance plans and you can get the best deal at the lowest price.

Comments are closed.