Travel insurance is a very useful for travelers to have when taking off overseas for a holiday or a business trip. Plans or policies will usually consist of various coverage features which may include trip cancellation protection, cover for lost or stolen luggage, medical expense protection and loss of and public liability. There is no doubt that all of these coverage items can be beneficial, but one particularly important feature is trip cancellation coverage as this protects the investment made on the trip if you are later unable to go on it. This type of cover can come in handy irrespective of whether you travel frequently or a couple of times per year. When choosing looking at trip cancellation cover, there are a few things to be on the lookout for in order to choose the best plan.
Total Amount of Trip Cancellation Coverage
When reviewing the travel insurance offers from different insurers, take note of the total amount of trip cancellation coverage available with each plan. Some plans will cover the entire investment whereas others will only cover up to a certain dollar amount. This is an extremely important factor to consider as the payout will make a world of difference should one need to use their coverage due to cancellation of a trip. You wont want to get back part of what you spent on the trip you will want to get it all back. Not only should you get a verbal explanation of the trip cancellation coverage amount but also ensure that the specific amount is in writing when you sign the policy documents.
Some travel insurance plans will also have an excess or deductible amount attached to the trip cancellation coverage. The deductible amount can range from $50 right up to $300 or more which may make it not worthwhile making a claim at all. The amount will vary from policy to policy therefore it is important to take note of the deductible which will have to be paid before the insurance company pays anything. Keep in mind that not all insurers will require a deductible so it can be worth trying to find a policy where there isn’t a deductible amount at all.
Items Which Are Covered
It is also wise to ask what exactly will be covered should your travel plans fail to go through. Some travel insurance policies will cover everything from airline tickets to accommodation and tours booked whereas others will only cover the flights. Take note of what exactly is covered under this portion of the policy and inquire with the insurance company representative if any questions exist at all. Again, make sure that the inclusions are specifically stated within the travel insurance policy so that there will be no problems if you do end up needing to make a claim.