Every booking site tries to sell you travel insurance, here’s when you should actually pull the trigger

When you’re planning to go on a business trip or family holiday soon, it is highly recommended that you get travel insurance.

Whether it is an overseas or domestic trip, there are a number of travel insurance policies available in the market today. Most insurance companies have product features that offer a lot of benefits for their clients.

There are several factors to take into consideration when choosing the best travel insurance coverage for you and your family. You need to be able to scrutinise the offerings of insurance companies to choose travel insurance that is best suited for your needs.

Here is a list of factors to help you get the right insurance coverage for you.

1. Medical Coverage

It is important for your travel insurance to have an excellent medical coverage. If you are going abroad, your emergency medical cover should be more substantial than coverage for cancellation, missed departure or lost baggage. The reason behind this is because most medical facilities abroad are expensive, especially for foreigners.

2. Duration of the Policy

The policy duration of travel insurance could be for a multiple trip or single-trip coverage, depending on your plans.  If you’re going on a single-destination holiday, check the validity of your single trip travel insurance, which is usually 90 days.  If you are going to multiple destinations, then the best option is getting a multi-trip policy.  A more practical option is to get annual travel insurance, which valid for all your trips for one full year.

3. Standard Claim Limits and Exclusions

All insurance policies have standard claim limits.  The limits of the most important aspects of the coverage such as personal liability, baggage loss, cancellation, and emergency medical treatment should be sufficient for the policy holder.

A travel policy always includes exclusions.  Before purchasing, you should read and understand all the areas that are excluded in the policy.  These are all the items that are not included in your coverage.

4. Multiple Coverage

Travel insurance firms offer various coverage options for corporate groups, holiday groups, families, students, travelling artists, expatriates and many others.

5. Inclusions for Additional Coverage

Whenever you’re traveling, there are always unexpected things that are bound to happen.  To prepare for these unforeseen events, you should always put additional coverage on your policy that is not part of the basic package.  Check if the policy has inclusions for additional coverage. Examples of additional coverage are coverage for the financial failure of tour companies or missed hotel reservations. There are also travel insurance companies that provide additional coverage in case you have a serious accident or injury while participating in a travel-related activity such as skiing, sailing, spelunking, or snorkelling. These add-ons are usually optional and customizable.

The best travel insurance coverage is one that will meet all your needs. If your needs are not covered, you have to think twice about purchasing that policy. Before choosing the travel insurance that will greatly benefit you, you should be able to carefully assess all the factors on the list.