You have shopped around and found a great deal on your trip, so why not shop around for cheap travel insurance? Yes, cheap travel insurance is available, especially if you are looking for travel insurance online. Check out these tips to find the best travel insurance deal.
Insurance Tip for the Week: Know How to Get A Good Deal on Your Travel Insurance
By Bobbie Sage, About.com GuideOctober 11, 2010
Explore Personal Insurance
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Good tips, travel insurance is overlooked by folks taking trips more often than should be the case.
Great post on travel insurance. Here are 8 more tips for insurance shoppers from Access America.
1. Who is the underwriter for the insurance and what is their A.M. Best rating? Licensed insurers are rated by A.M. Best – and other independent rating agencies – on their financial strength and ongoing ability to pay claims.
2. Does the insurance company have global capabilities? Look for companies that have company-owned offices around the world that are dedicated to travel insurance and assistance.
3. Inquire about the company’s network of service providers including hospitals and doctors. Ask if representatives from the company have personally visited the hospitals in their global network and how often these facilities are re-inspected.
4. Find out what foreign language capabilities are provided by the insurance provider’s in-house associates. You don’t want a critical medical procedure delayed because you can’t communicate with the physician.
5. If working with a travel agent, ask them if they are licensed by their state to sell travel insurance. You should also ask if the insurer is licensed to do business in your state.
6. Are the insurer’s covered reasons for trip cancellation readily provided on their web site or in product brochures? If you can’t find a list of covered reasons, you won’t know what types of cancellations may be covered.
7. Read the insurer’s policy before you purchase. Is it written in consumer-friendly language you can understand? Does the plan provide the coverage that you need? If after reading the document you determine that the coverage doesn’t meet your needs, can you get a premium refund within ten-days of your purchase as long as you have not departed on your trip or filed a claim?
8. Is the travel insurer a member of the United States Travel Insurance Association (USTIA)? This organization’s members agree to a code of ethics related to licensing, marketing and customer service. http://www.ustia.org