Five Expert Tips To Travel Insurance

Five Expert Tips to Travel Insurance

Picture This:
You are on vacation, lying on a beach chair and you feel a sharp pain in your side. You are suddenly doubled over, and have to be taken away in an ambulance to the hospital.

At the hospital, they ask you for your insurance. You suddenly get more anxious when you realize that you are not covered. Your trip to the hospital quickly becomes several thousand dollars. Your trip is ruined. How are you going to afford the bill?

When do you need Travel Insurance?

Do you travel outside of your country or province? Whether it is for a six-month winter visit or a quick trip across the border to go shopping, you need travel insurance.

Travel Insurance is important while on a trip: it covers your emergency medical expenses.

• It is not unusual to be charged $3,500 per day in a U.S. hospital or a hospital in Mexico and the Caribbean. If you have to be air evacuated from Europe or Asia due to a medical emergency, costs may be in excess of $40,000, in addition to the medical bills.

If you want financial protection, you need travel insurance.
• Do you think you are too old? Wrong. There are plans for any age. The older you are, the more likely there will be a travel insurance claim. You especially need travel insurance.

What does Travel Insurance cover?

It covers emergency medical expenses, up to a maximum of 1 million to 5 million dollars, depending on the plan and company. Examples typically include:
• Hospital stay
• Emergency evacuation home
• Return of travel companion and children if you need to return home due to a medical emergency
• Ambulance transportation
• Bringing someone to your bedside from home
• Emergency dental needs
• Emergency chiropractor needs

What is not covered?
• Planned medical treatment
• Routinely scheduled medical treatment
(e.g.: physicals, scheduled blood work in use with physical)
The largest number of unpaid claims is due to:
• any treatment that is not for an unforeseen or unexpected medical emergency
• a pre-existing condition that has not been stable (during a period of time specified in your policy)

How does Travel Insurance work?

• The insurance must be purchased before leaving on the trip.

• Any pre-existing conditions must be stable prior to leaving – this may be required anywhere from 60 to 180 days typically – see your particular plan for details.

• It may avoid out-of-pocket expenses in most cases, as your hospital bill may be sent directly to the insurer.

Hot Tip: Without travel insurance you will be asked to pay any medical and hospital expenses upfront.

What types of Travel insurance are typically available?

Multiple Trip Plan (annual plan)
• This allows you to travel as many times as you want in one year. You can stay away up to the number of days purchased, per trip.

Single Trip Plan
• Coverage for one trip

Trip Cancellation / Trip Interruption
• This covers your costs if you have to cancel your trip, or return early from your trip due to one of the reasons listed for that policy (may differ from policy to policy).

All Inclusive
• Includes emergency medical insurance, trip cancellation, interruption and delay, baggage loss, flight and travel accident insurance.

Here are five helpful tips to utilize your travel insurance

1. Get the travel insurance before you go. If there is a claim, the company will verify that the trip began after the travel insurance was purchased.

2. Tell your travel companions about your travel insurance, so that they know what to do if something happens to you, and you are unable to phone in your claim. Here is why:

• It will expedite your treatment, and make it easier to file your claim.

• It will reduce your stress from having to explain the situation while you are in pain.

3. Do not throw away receipts from your trip. Travel insurance often covers extra expenses for meals, hotel, phone calls and taxi related to your relocation or delayed return home due to a medical emergency. 

4. Keep one copy of the travel insurance in your wallet or purse, and one in your luggage. If your wallet or purse is stolen, you still have your luggage copy. If your luggage is missing, you still have your wallet or purse copy.

5. E-mail yourself a copy of the proof of travel insurance so that you can access it if you lose it or get separated from your luggage. Ensure that you use a web-based email account that you can access away from home.

Bonus tip: Your travel insurance may cover to have a loved one transported to your hospital bedside – do not be afraid to inquire about it.

This is an excerpt from The Expert Guide to Travel Insurance, available for free at from http://www.canadaquote.net.