People buy travel insurance to protect their travel investment dollar. This is a smart decision. But unfortunately many opt for the lowest priced policy they can find. This is not a smart decision. But this isn't the biggest mistake almost everyone makes.
The biggest mistake made is not knowing what the policy covers and doesn't cover. This probably sounds pretty stupid. People do it all the time. Sometimes they're lucky and they never need to file a claim. But unfortunately many find out to late, they don't have the protection they thought they had.
How do you avoid this? You actually have to do a little work. Before you buy and travel insurance plan you need to read the detail statement of coverage or policy details. If you're comparing policies online most carriers will provide a downloadable version of the policy coverages. Get it and read it.
There are specific things I recommend you look for depending on what you plan to do on your trip, your own particular health situation, whether or not you will be traveling with children, etc. Also don't be afraid to pick up the phone and ask questions. Most companies will have a customer assistance number where further policy information can gotten.
When you have the plans stamen of coverage here are some things you certainly want to know and understand. First, what kind activities are you likely to engage in on your trip? The accident insurance in a typical travel plan excludes what they call high risk or adventure activities.
What's important is knowing what each plan defines as high risk. Certainly they would include rock climbing, hang gliding, piloting a private airplane, scuba diving, etc. But there might be others like renting a motor scooter in Thailand or renting a jet ski. Read the policy carefully and if there is anything not specifically covered that you might plan on doing don't automatically assume it is covered.
Emergency medical evacuation insurance is always important no matter what your current health situation or age may be. Understand what is covered. Do you have the option of determining your choice of medical facilities if something happens and you need to be evacuated? If children are involved is their coverage to take of them adequately if you are in a hospital? Take some time and think about what could happen. It may not be the most pleasant task in planning your trip but it is a necessary one.
Another very important area to clearly understand is the process for submitting a claim. Most policies will state specific requirements of coverage such as needing in writing a doctor's order for medication or hospitalization. Some carriers will have a 24-hour assistance number where you may need to get prior approval for certain procedures before they will be covered.
If you rent a car and have an accident you may need a copy of the repair bill and police report when submitting a claim. Remember, you can never have too much documentation when it comes to settling a claim with an insurance company. Find out what might be needed ahead of time or at least use the assistance number to find out if something does happen. The bottom line - be informed and be prepared.
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