Confused? Don’t know where and how to begin your search? Yes, this does seem like a tiresome and boring task! But if you focus on the important aspects, it can be done quickly while ensuring that you would have made an informed decision. Here’s how…
1. What are your needs? Think about it
- What am I going to do? Any adventurous or leisure activities? If so you would want to be looking at a more comprehensive policy that would cover such activities.
- Where am I going? You would want to ensure that your policy would cover this country or where you may need evacuation. If you are travelling to a country with higher medical costs, you may want to ensure that the medical coverage limits are sufficient.
- Do you travel frequently? This would determine whether you need a single trip plan or a multi-trip annual plan.
2. Determine the Coverage
This is the core of any policy and is therefore undeniably the most essential aspect to consider. Different people may weigh different coverages differently depending on their preferences or needs.
Most travel policies are divided into 4 categories:
- personal accident
- medical expenses
- emergency benefit
- travel inconveniences.
When you select your policy, pay attention to the coverage levels for those coverages that are important to you. On Insurance Market you can set your preferences and the system will automatically rank the insurances in line with the importance you attach to them.
3. Watch out for those Exclusions and Conditions
The most common mistake many people make is assuming that they are covered for everything on a trip once they have taken out a Travel Insurance policy. You must read the exclusions carefully. For example, certain adventurous sports or high-risk activities may be excluded from the policy. Also, most policies do not cover for pre-existing conditions!
4. Take note of the claims submission process
In case you have a claim, it is prudent to have read through the claims filing process in order to ensure that you will have a valid claim once submitted. Most claims would require a written notification within 30 days upon completion of the journey. Also, a report must be made within 24 hours of the incident to the relevant authorities and all necessary documents in connection with the claim must be submitted to the insurance company.
5. Compare insurance policies
Finally, once you know what you are looking for in a policy, it is best to compare various Travel Insurance policies. This would allow you to choose the policy that is best suited to your needs.
Buying your Travel insurance policy direct online
This is where Insurance Market comes into the picture. We offer you the comfort of comparing, filtering and buying multiple insurance policies at the click of a button. It doesn’t get easier than this… You will buy the right policy for yourself in less time than it costs you to read this article!