Every person and every trip is different. So you really need to make sure you compare policies and make sure you get appropriate cover at a decent price. Here are a few words on how travel insurance comparison is done in Insurance Market ? We have a wide selection of travel insurance policies available for you that you can easily filter, after that you compare travel insurance and buy it instantly online. At Insurance Market travel insurance comparison is done by rating different types of coverage and coverage levels. Here are a few pointers;
Major Types of Coverage
Personal Accident
The Personal Accident benefit is essential and pays in case of accidental death or permanent disability, which of course can cause much financial strain in the event of it occurring. You need it because when travelling you will be most likely doing activities and visiting places that are out of your usual routine. You go to strange places in unfamiliar ways, maybe even at strange times. This increases the chances of accidental injury.
Medical Expenses
The Medical Expenses benefit is also key and helps tackle any unexpected medical expenses that may come your way whilst on a trip. Considering the high cost of the same in certain countries, it is essential to have. This coverage can even include treatment by TCM physicians, pregnancy related expenses, accommodation and/or transportation expenses.
Emergency benefits include evacuation which covers you if you need to be transported via air ambulance or other means of transportation to the nearest hospital or in the worst case, the cost of returning mortal remains to one’s home country or for a local burial.
Travel Inconvenience & Other benefits
Under Travel Inconvenience & Other Benefits you will find a variety of coverages such as baggage delay, loss of baggage and personal belongings, travel delay, trip interruption and flight misconnection.
How We Review And Rate
Every insurance company and every policy has different benefits and different coverage levels. This makes travel insurance comparison of policies cumbersome without help. Our site has been specifically designed to make the process easy for you and help you select the best cover at the best price in minutes. So, how do we do that?
We have actually analysed every policy word by word and compared them line by line. We have then reviewed and scored all of them, so as to make them comparable. This way we calculated a rating for every policy. You might find yourself asking how we do that. We do that by grouping the benefits and give each group a weight. The entire policy is scored out of 110 points and we weigh the various elements that make up the total score as follows:
Personal Accident: 17 points
Within this group, most points are given for the general coverage provided by this benefit. The remaining points are distributed between other coverages like natural disaster, fare paying passenger in public transport and the schedule of compensation.
Medical expenses: 35 points
Under this section, medical expenses incurred overseas is given the major chunk of points.
Travel Inconveniences & Other Benefits: 45 points
Most points are given to adventure activities followed by other benefits such as personal liability, baggage and personal belongings to name a few.
Emergency Benefits: 13 points
The benefits under this section offer cover when you are facing a life-threatening condition due to unexpected illness or injury. The highest score is given to emergency medical evacuation. The remainder is distributed between emergency medical repatriation, repatriation of mortal remains and general coverages such as emergency dental expenses, hospital visit etc.
Best Value for Money
Every policy is different from the other and no single policy offers coverage for everything, but we want you to get a policy that best meets your needs, at the best price. We do that by first letting you filter the policies to prioritise those that meet your requirements. For each we then show the quality by a “coverage score” and then compare that score with the price. That is how we calculate what we call the ”value for money score”. So in principle the policy with the highest Value for Money score is the one for you to buy, provided it meets your budget requirements. If it is too expensive, you may need to trade down a little.
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Then come on over to our Travel Insurance comparison pages and look for a policy that’s right for you. A click of a button is all it takes to get yourself important financial protection and most of all; some peace of mind!