When you’re going on a long trip away from home, having the right travel insurance is crucial to ensure you are covered for various incidents such as medical treatment or theft of an expensive good so here are six things to think about related to travel insurance.
- Do your homework
There are so many companies out there that offer travel insurance which can be overwhelming but shop around to find the policy that suits you. Maybe your bank offers a good package given that you are a loyal customer of yours. My annual travel policy was booked through the travel agent that I went with and I ended up getting one of the more expensive ones given that I have a track record for being rather clumsy and so good medical coverage was a priority for me! Luckily I never had to use it but you never know what might happen when you’re away!
- Get the right one for your planned activities
Having appropriate cover is crucial so if you do plan on bungee jumping or scuba diving in the Great Barrier Reef
then make sure the policy covers extreme activities like this in the event of having an accident.
- Alcohol and drug policies
People often want to let their hair down when they travel and enjoying a couple of margaritas on the beach is a great way of meeting some new people but bear in mind that many insurers don’t cover you if you’re involved in accident if under the influence of alcohol or non-prescription drugs so read your policy carefully.
- Taking care of your belongings
Your insurer will expect you to take reasonable care of your belongings to prevent the chance of theft so if they suspect that you have been negligent at all then they may refuse to pay out.
Therefore, if you do plan on taking expensive products like laptops or iPads etc then you should make sure they are kept in lockers and not just left lying on your bed in your hostel.
- Excluded destinations
Make sure to check which countries are covered by your travel insurance before you go. This sounds obvious but, for instance, most round-the-world travel insurance policies can either include or exclude the USA and if you don’t plan on going there then make sure you don’t pay the extra money, which can be quite a lof!
- How to report a theft
If you do happen to have an item stolen during your trip then your insurance policy usually required certain steps to be taken. A common requirement is that you must report the event to the police within 24 to 48 hours of the incident taking place in order for them to pay out.