Travel Insurance: Its Importance And The Pitfalls You Need To Avoid
When you are planning a holiday abroad, one thing you forget to focus your attention is the travel insurance
. Its benefits are many though you don't realize until you fall in trouble. However, the risk is too big to take chances. Therefore remember to buy your insurance as soon as your trip is confirmed. It is necessary to wait until your trip is confirmed as the insurance premium usually is a percentage of the total cost of your trip. However, there are travel insurance options that come at comparatively low prices.Some statistics show that out of every seven holiday makers one makes a claim. There are also statistics to show that one fourth of all the foreign travelers do not buy travel insurance. However, as you are in a position to purchase travel insurance with very low cost, it is not a good idea to go out of the country without travel insurance.
Benefits of insurance when you go out on a foreign trip
The first thing is that in case of a cancellation of your flight you will get compensated. Another advantage is that if a baggage is lost you are entitled for payment. When you are enjoying your holiday if anything is stolen you never need to worry as you will get compensated for the loss. Most of all, if you have medical cover in your insurance which is a must you will get your treatment free of charge.
However, there are some insurance hazards you need to be careful of.
Travel insurance for over 65 year olds
If you are over 65 most insurers are reluctant to insure you. Even if they do they will charge exorbitant rates. There are some insurers that charge as much as double the amount they charge from younger travelers. However, there is no need for you to get caught to these companies. When you call travel insurance quotes you will find that you are able to find quite a few cheap deals. There could be a fair surcharge on the above 65 year olds as statistics show that they are more likely to make a claim. The surcharge often stays at 25% of what is charged from others.
Middlemen who sell insurance policies to travelers
These are days when you will be able to buy your insurance before you set off on your journey from your super market, your bank and even your credit card company. These are really resellers. Therefore, you need to pay a lot more for these people than you pay when you buy from a real insurer. Avoiding buying from them and buying from a traditional insurer could save you a lot.
The best way to avoid such hazards is to call travel insurance quotes from reputed companies before selecting the one that suits you best. When you do so, you will be able to go on your trip without worrying about how to pay your bills in case you fall ill or what to do if you lost your baggage and so on.
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