Travel insurance is one of those protection plans that many people consider unnecessary. In some cases the doubters may be correct, however there are situations where having travel insurance can be a benefit. The easiest way to save money and reduce costs is to recognize unnecessary expenses that eat into your carefully constructed budget. In order to do this you must first be able to identify when an expense is unnecessary and when it pays to spend a little to potentially save a lot. Here we look at the “do’s” and “don’ts” of travel insurance to ensure your travel money is well spent.
Travel Insurance “Do’s”
Do know what you are getting into. Insurance policies in their simplest form are still some of the most complicated documents that a person will ever have to read. Travel insurance is no different which requires special attention be paid to the details to ensure you are aware of what coverage is being offered. Read the policy in its entirety to fully understand what you are getting for the price.
Do ask questions. When in doubt regarding what type of coverage is available or in what situations you will be protected, ask the insurance provider to fully explain the coverage. Do not assume that you understand what is being presented to you or “guess” you are adequately covered.
Do weigh the benefits versus the drawbacks to determine if a travel insurance policy is a cost effective move.
Travel Insurance “Don’ts”
Don’t assume there are no benefits. Travel insurance is not right for everyone in every situation. For some travelers, the insurance might very well be a waste of money. For others, however there may be benefits that are worth the expense. It really all depends on the individual, the trip and the policy.
Don’t allow yourself to be talked into coverage you don’t need. If you have done your research and feel confident you will not benefit enough from travel insurance to justify the added expense, stick to your guns if pressured to purchase a policy anyway.
Don’t develop a universal reaction to travel insurance. For example, some people swear by travel insurance for each and every trip, domestic and abroad. Others swear off the added expense claiming it is never worth the cost. Smart travelers make their decision regarding travel insurance based on each individual experience. What doesn’t appear cost effective for a short jaunt within your home state may be totally different when embarking on a three month trip abroad.