5 Travel Insurance Tips: Don't Make These Mistakes!

1. Don't Delay in Purchasing your Insurance Coverage

   
   

There are limits to the coverage you can get if you do not purchase a policy soon after booking your trip.

Pre-existing conditions are often excluded, with some policies reviewing your previous 60 days of medical history before paying on a claim.

If there is a storm projected to impact your vacation, then it is too late to get coverage that will help cover the cost of delays or cancellations.

Purchasing early will give you the best options for insurance coverages and benefits.

2. Don't Assume A More Expensive Policy Means better Coverage

   
   

Just because you find a policy that costs more doesn't automatically mean it provides better coverage.

Each company uses their own criteria for determining their pricing and coverage amounts.

You could be paying more for the same or lesser coverage if you don't look at the specific benefits of each policy.

3. Compare Policies

   
   

Insurance policies can look the same at a glance,

but be sure and look at the coverages side by side to determine if you are getting the best benefits for your dollars.

Review not only the covered situations, but the coverage amounts as well.

You may find that both policies cover medical evacuation but one covers up to $50,000 and the other up to $500,000.

This can be important in a situation that is usually very expensive.

Policies offered by the cruise lines and tour companies often have exclusions or limited benefits.

Insurance coverage on your travel credit card may not include medical coverage or if offered, it is not a primary medical coverage.

4. Read the Policy Coverages

   
   

Reading an insurance policy won't keep you on the edge of your seat, but you will learn what benefits you are NOT going to receive if you have a claim.

It is important to know if you can 'cancel for any reason' or if there are limitations on coverage for delays.

Different policies will offer different maximum amounts on things like medical evacuations or you might find that you can't be reimbursed for delays less than 6, or even 12, hours.

5. Be prepared for travel delays or disruptions

   
   

Delays can happen on even the most meticulously planned vacations.

This is especially true if flights are part of your travel itinerary.

However, flights are not the only potential problem.

Storms, construction, illness, and mechanical breakdowns are just a few situations that can cause unforeseen delays or cancellations.

Consider insurance policies that include coverage for travel delays and review the benefits for any exclusions or limitations.

Taking time to plan and prepare for a great vacation includes making sure your travel policy fits your needs.