CHEAP HOLIDAY INSURANCE: things to know
Hello and welcome to our site! Our purpose is to provide important information to
anyone looking at purchasing holiday insurance.
Hello and welcome to our site! Our purpose is to provide important information to anyone looking at purchasing holiday insurance.
Holiday insurance - is it worth it?
You're planning your next big getaway. You've got the flights and hotel booked, you've got some money put away for spending on your trip, and then somebody mentions holiday insurance. "Holiday insurance?" you think to yourself. "Do I really need holiday insurance? And what exactly is it anyway?"
A good holiday insurance policy covers everything from flight cancellation, theft, and lost or damaged luggage, to medical expenses and accidental death. Holiday insurance is generally purchased for a single trip, typically for around 6% of the total cost of the trip, but most agencies also offer annual coverage. This will provide you with holiday insurance for any trip you take during a 12-month period and can be a great option if you're a frequent traveller, but you need to make sure you read the fine print as some parts of the world may require special coverage.
Holiday insurance should be a no-brainer for any international trip, because as soon as you leave your country of citizenship you're no longer covered for any medical expenses. Chances are you'll be fine, but you never know when injury or illness can strike. Take, for example, the story of a personal acquantance of mine, Julie. Julie, who lives in London, was on vacation in the Philippines when she suddenly became ill, most likely from some sort of food poisoning. She had to spend the night in the hospital and was released the next morning with a bill roughly equivalent to 3 months' salary. She had not thought it necessary to buy holiday insurance for the trip and spent the better part of a year struggling to pay off the bill.
As another example of when holiday insurance can come in handy, I'm reminded of a fellow named Sean, who was enjoying a relaxing vacation in Mexico. He was driving around in a rental car when he took a wrong turn and ended up in a bad area of town. When he pulled over to get his bearings, he suddenly found himself surrounded by three masked men who ordered him out of the car. He was held at gunpoint by one of the men while the other two ransacked the car. He was not hurt in the incident but his wallet and several valuable items were stolen. Luckily for Sean, he'd invested in holiday insurance before his trip and was reimbursed for the losses. Now, does this happen often? No. But it's a lot more likely to happen when you're in a foreign country because not only are you unfamiliar with the territory, but criminals like these make their money by being able to spot and take advantage of unsuspecting tourists. Do the smart thing and protect yourself with holiday insurance.
Even if you're not leaving the country, holiday insurance is still a good investment as there is always the possibility of flights getting cancelled or luggage getting lost. And even if you're not flying, unforseen circumstances can lead to your being trapped somewhere for several days. As long as you have the right holiday insurance coverage, you can relax knowing that it's all taken care of.
Holiday insurance is always a solid investment. You may not like paying the extra money, but it's a lot better than getting caught without it later. If you're going to spend the money and take a nice vacation, there really is no point in trying to cut minor costs here and there. Plan to spend enough money so that you can go away, relax and not have to worry about anything while you're on vacation.
Finding cheap holiday insurance
What's the best place to get cheap holiday insurance? You're already spending a good amount of money on your vacation and chances are you'd rather not spend a lot more. Especially on something like holiday insurance, which most people view as an afterthought. I mean think about it - if you're setting money aside to go on a holiday, you want to put as much of that money as you can towards things that will make your holiday more fun and enjoyable - a rental car, a nicer hotel, a snorkeling adventure... you get the idea. Who wants to waste that money on some policy that you probably won't even need?
Well, be careful. If you're reading this article, you're probably already inclined to make the smart choice and purchase some kind of policy. But you're probably also looking for the best deal. And you should look for the best deal, but in doing so you need to make sure you actually ARE getting the best deal. Cheap holiday insurance can be very enticing but also very misleading. Whether you're planning a future vacation or making final preparations to go away next week, there's a few things you should keep in mind.
First of all, do not get your holiday insurance through a travel agency. A lot of people do this because it seems like an easy way to get cheap holiday insurance without having to shop around, but often times it's just a waste of money. Many of these policies do not offer you very good coverage, and they may also have loopholes so that if something does happen they can avoid having to pay. Do some research and keep the following things in mind when looking at different policies:
Do they have a 1-800 number that you can access from anywhere at any time? Some cheap holiday insurance providers are not available 24/7 and may be difficult to contact from certain parts of the world. The last thing you need is to not be able to contact your provider when you actually have an emergency!
Are you covered for flight cancellation or delay? Medical coverage is the first thing most people think of, but flights do get cancelled and you can end up getting stuck somewhere for several days. A cheap holiday insurance plan may not cover you for this.
Does the policy explicitly state that they cover medical costs in the even of sudden illness or injury? Usually this is not a problem, but some cheap holiday insurance policies are cheap because they don't provide this coverage at all! Don't assume anything.
Are you covered in the event that your luggage gets lost or delayed? Unfortunately this is one of the most common problems that people run into while traveling and not only is it frustrating, it can be very expensive. If there's anything in your luggage that you can't do without for a week, you'll want delay as well as loss coverage.
What sort of activities void your coverage? Holiday insurance will usually not cover accidents that occur during high-risk activities or while you're intoxicated, but there are many other things that can be excluded as well. Are you going to be swimming? Hiking? Make sure you know what the exclusions are - you'd be surprised at some of the things cheap holiday insurance doesn't cover you for.
So is cheap holiday insurance out of the question? Should you just accept the fact that you're going to have to pay a lot? Not at all. Just make sure you do some research and keep these ideas in mind along with the price. And one final thought - don't go to some hole-in-the-wall company that nobody's heard of, even if they appear to offer cheap holiday insurance with good quality coverage. You want to deal with a decent sized, reputable company that's been around for a while and is likely to be around a while longer.