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Selecting the best trip insurance often means choosing a policy offered through a reputable insurance company and making sure it meets most of your coverage needs. You might also consider any other insurance you have in making a choice. The type of trip you have planned can make a difference as well. Additionally, an assessment of your need for one-time versus long-term insurance might influence your decision.
When you want to choose the best coverage, you may do well to start with the company that underwrites it. You can typically ask the travel company that offers you the insurance for this information and then research the insurance company online. Ideally, you will want to be sure the company is legitimate and in good financial health. You may also do well to check with consumer-reporting agencies to look for reports of unfair treatment. Additionally, you might feel more comfortable about selecting an insurance company that is a current member of a travel association that requires its members to have high service standards and ethics.
Since you have to pay for this insurance, and that adds to the cost of your travel plans, you will most likely want to select a policy that covers what you need most. If you are concerned about losing your money if you have to cancel a trip, you may want to select a plan that provides generous coverage for cancellations. Some policies provide coverage for cancellations no matter what the reason you decide to cancel. You might also want coverage for things like medical care while you are on a trip or replacement of your property if something you own is lost or stolen while you are on a trip.
Other types of coverage you have might also influence your choice. For example, a review of your homeowner’s insurance may reveal that you have coverage for certain things related to travel, such as lost baggage or emergency car rentals. If you have adequate coverage for some things that could go wrong on a trip, you might decide to select a less-comprehensive trip insurance plan, concentrating on just the things for which you are not covered. For instance, you might have medical coverage in your country but lack coverage for traveling abroad.
Where and how you will travel can make a difference as well. If you will travel domestically and have health insurance, for instance, you may decide that you do not need medical expense coverage. Likewise, if you will get to your destination by car, you may not have a need for luggage insurance. You might, however, need legal coverage to ensure that you will have a lawyer’s help in the event that you receive a traffic citation or are arrested while you are on the road.
You might feel unsure of whether you need personal liability insurance when you travel. Like many people, you may consider it unlikely that you will cause damage to others’ property or even injure another person. Accidents can happen, however, and may prove costly if you are at fault. As such, many trip insurance experts recommend including personal liability insurance in your coverage.
Often, this type of coverage is purchased for a single trip. For example, you may pay a one-time fee to cover an island getaway. In the event that you will make frequent trips, however, you might buy annual trip insurance instead. Annual insurance may better suit your needs, for instance, if you plan to take several backpacking trips per year.