How to choose the best travel insurance to suit your needs, including coverage, costs and key features.
Severely delayed or canceled flights, lost or stolen luggage, natural disasters, political turmoil in your destination country—any of these issues can quickly turn your dream trip into a nightmare. Travel insurance acts as a safety net, making it easier to adjust your travel plans and potentially lower your overall costs.
By covering many of the unexpected costs associated with travel disruptions, you can keep your budget on track and emergency funds intact, so you can focus on enjoying activities like excursions and dining.
What should I look for when comparing travel insurance plans?
Here are the most important factors to consider when comparing travel insurance plans to find the policy that best fits your needs.
1. Policy prices and your budget
Before choosing a travel insurance policy, figure out your total budget and how much you’re willing to pay out-of-pocket for claims (this is known as voluntary excess). For example, with a $200 deductible, you’ll cover the first $200 of any claim. Once you know your budget and deductible, you can narrow down your options accordingly.
A policy with more extensive coverage requires a larger investment but offers protection for a wider range of situations. Basic policies are more affordable but may only cover common travel-related issues, such as trip cancellation and interruption. Consider whether the added assurance of a comprehensive policy is worth the higher cost.
2. Coverage for trip delays, interruptions and cancellations
Travel insurance policies often provide financial protection if your trip gets cancelled, delayed or interrupted.
A great travel insurance policy will cover things like hotel expenses, the cost of food and drink or other travel expensess when your trip is disrupted.
3. The areas covered by the policy
Travel insurance policies can cover a single country or multiple countries. If you plan on traveling across borders and visiting several countries in a single trip, consider getting an international policy so you have seamless coverage during your travels. However, if you have just one country to visit during your trip, a single-country policy will suffice.
4. The number of countries you’re visiting
There are various types of travel insurance policies available, including those for a single journey, multiple journeys or annual policies for an unlimited amount of travel within a 12-month period.
As the name suggests, a single journey policy covers you for one trip, and you’ll need to specify to your insurance provider which country you’re traveling to. International travel insurance plans cover hundreds of different countries, so you have more freedom to travel wherever you like, while still having some protection with your travel plans.
5. The number of people traveling
Travel insurance policies can also be split into categories based on how many people are covered in a single policy. For example, you can get a single-person plan that only you can benefit from or a joint policy, where you can share your coverage with another person, whether it’s your partner, sibling, child or even a friend.
If you’re traveling with your entire family, consider getting a family policy. Compared with multiple single-person policies, a family policy often works out cheaper, so you have more to spend on booking the perfect holiday, dining in top-rated restaurants, where you can practice great tipping etiquette.
6. Healthcare coverage
Many travel insurance providers offer health insurance (also called medical insurance) as part of their policies. These policies help pay for access to doctors and other healthcare professionals in your local area when traveling. They may also cover prescription medications and ongoing therapies if you’re managing a chronic health issue.
Healthcare and medical treatments can be expensive in foreign countries, even in places that have free universal healthcare for their citizens.
7. Coverage limits
Make sure you understand the maximum amount the insurance will pay out for various claims, such as medical expenses, lost luggage or trip cancellations. Some policies may have caps that are lower than what you might need.
8. Exclusions
Review what’s not covered by the policy. Common exclusions can include pre-existing medical conditions, certain activities like extreme sports or travel to specific countries. Insurance providers may exclude coverage for travel to countries that are deemed high-risk due to political instability, war, terrorism or health outbreaks. Examples of countries that might be excluded include Syria, Afghanistan, Iraq, North Korea, Libya and Yemen.
Knowing these exclusions can prevent unpleasant surprises and help you select a policy that aligns with your travel plans.
9. Claims process
Understand how to make a claim, the documentation required and the timeframe for claim submissions. A simple and efficient claim process can make a big difference during a stressful situation.
10. Customer support
Check if the insurance provider offers 24/7 customer support, especially useful when traveling internationally. Immediate assistance can be crucial when dealing with emergencies in different time zones.
11. Repatriation and emergency evacuation
You might want to see if the policy covers the costs of repatriation and emergency evacuation if you fall seriously ill or get injured and need to be transported back home.
Travel Insurance: You’ve Got It Covered
When choosing a travel insurance policy, consider these 11 factors to help ensure you select the best coverage for your needs. Whether it’s protecting yourself against unexpected travel disruptions, covering medical expenses or ensuring your entire family is protected, a well-chosen travel insurance plan can provide peace of mind and financial security.
Take the time to compare different policies, assess your needs and find the right balance between coverage and cost. With the right travel insurance, you can enjoy your international adventures with confidence, knowing you’re prepared for any unexpected events. Safe travels! –John Moran
