ST PETE BEACH, FL March 4, 2011 – Travel insurance may seem intimidating, but with some guidance, it can be quite easy. The helpful tips provided will assist travelers when comparing travel insurance policies. “It’s important for travelers to be aware of the possible challenges that may arise when shopping for travel insurance,” says Chris Harvey, Squaremouth’s CEO. The guidance provided will allow travelers to be on their way to vacationing with piece of mind in no time.
Make a list of required coverage
To prevent over insuring, compile a list of the of the main reasons for purchasing travel insurance. If a traveler is aware of the coverage they want, they could save by buying a policy that provides only the required benefits. Searching for travel insurance on a comparison search engine will provide travelers more options with better policies for less money.
Single Trip insurance or Annual insurance
Understanding the difference between annual travel insurance and single trip travel insurance will save a traveler hundreds of dollars. Single trip travel insurance covers you for a specific single trip. The premium is determined by the trip cost, age of traveler and length of stay. Standard single trip travel insurance offers trip cancellation and interruption benefits, as well as many other benefits. Annual insurance offers coverage for multiple trips during the year, and may have limited or no cancellation coverage. Annual plans can be good value; however, they mainly provide medical and medical evacuation coverage with very few other benefits.
Look for the “Sweet Spot”
Since travel insurers all have an ideal customer in mind, each product is aimed at a different demographic. This explains why some plans are inexpensive but offer better benefits. While comparing travel insurance, don’t be concerned that a policy is inferior because of its low price. This situation is common, and simply means the traveler has hit the “Sweet Spot,” and qualified for the best rate.
Purchase only the minimum requirements
Each person’s requirements will vary depending on their destination, age or health. If a person is young, healthy and going to the Caribbean, their medical requirements will be low. The opposite will apply if they are older or traveling to far away countries. Nearly 100 percent of products provide similar cancellation coverage, so if a traveler does not require any other coverage, choose the cheapest product.
Be aware of time limits on benefits
There are benefits, such as Pre-existing medical coverage, Cancel for Any Reason and Financial Default, that are only available if a traveler purchases a policy within 14-21 days from the date of their first trip payment. There are a few carriers; however, that do provide such coverage up to the day before the last trip payment. To get maximum coverage, a traveler would want to purchase within the time limits set by the insurers.
Being able to cancel
Having the option to cancel in case of illness or death of a relative may be the main reason a traveler is purchasing travel insurance. It’s important for a traveler to think of the many reasons a trip could be cancelled, and then check that the policy provides coverage for those circumstances. If reasons of concern are not listed, consider purchasing a policy with the benefit, Cancel for Any Reason.
Check the fine print
A traveler should read the fine print before a purchase. Although it is time consuming and difficult to read, it’s very important to know that nothing can restrict a possible claim. By visiting a comparison engine, a traveler will have access to easy to understand benefit descriptions as well as the full certificate.
Money back guarantee
Most policies offer a money back guarantee that will allow a traveler to cancel a policy and receive a refund if they are not satisfied with their purchase. Depending on the provider, the guarantee can last for up to 15 days after the purchase date. Most companies will refund the full amount minus an admin fee of around $6 to $8 per policy.
Squaremouth is America’s fastest growing travel insurance comparison site, helping customers instantly quote, compare and buy policies from every major carrier. Squaremouth has web sites in the US and UK, and an extensive network of partner sites worldwide. The company is headquartered in St Pete Beach, FL., with offices in Fort Wayne, IN. Visit Squaremouth.com or Squaremouth.co.uk.
About our Zero Complaint Guarantee
The cornerstone of our commitment to customers is Squaremouth’s guarantee to remove any company from our website if there is a customer complaint that cannot be resolved to our satisfaction. Squaremouth offers the broadest selection of insurance with an emphasis on quality and follow-up care in companies featured. We also factor in independent evaluation from the insurance industry watchdog AM Best.
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U.S. travel insurance – http://www.squaremouth.com
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International Medical Insurance – http://www.squaremouth.com/international-medical-insurance