2-minute guide to travel insurance

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Whether you are booking a family vacation or planning a business trip abroad, there is always a chance something could interfere with those travel plans.

That’s why a lot of news reports from New York Times and Consumer Reports have written about the benefits of travel insurance. It has plenty going for it.

Travel Insurance can:

    • help if you must cancel a trip for a covered reason.
    • help pay for reasonable meals and a hotel stay if a flight gets delayed overnight.
    • be affordable. Most policies run 4-8 percent of total trip cost.
    • help cancel a trip due to bad weather or hurricanes.
    • help if baggage is lost, damaged or stolen.
    • cover emergency medical or dental care.
    • offer a 24/7 emergency assistance hotline to help travelers with hospital and doctor recommendations, evacuations, or assistance getting out of a country in time of crisis.
    • offer gap insurance for emergency medical care while traveling.

So how can you find the right travel insurance plan that is best for your trip ­– whether for business or leisure? While this article can’t cover everything about travel insurance, it’s a good step-by-step overview on how to start:

STEP 1: RESEARCH OPTIONS

Once that trip is planned, here’s what to do next:

  1. Research travel insurance. Most start their search by researching travel insurance providers on the InsureMyTrip website or contacting a licensed travel insurance agent by phone or e-mail.
  2. Read reviews to gain insight. It’s easy for first time travel insurance customers to feel overwhelmed with so many plans and providers. That’s why reviews are so helpful. Read reviews written by real travelers who submitted a claim successfully or had a good experience with a provider’s customer service. If they had a good experience, hopefully you will too.

Reviews can also be found here:

  • A.M. Best
  • Better Business Bureau
  • InsureMyTrip

STEP 2: COMPARE TRAVEL INSURANCE

Travel insurance comes in several types. Each type comes with various benefits to provide coverage in specific travel situations (like if you must cancel a trip because of a hurricane or need medical care). Here’s an example of the different plan options available on InsureMyTrip and what benefits they include.

Photo: Example of different travel insurance and types of coverage.

Here’s the two most frequently compared plan types:

#1 Comprehensive travel insurance plans offers the most protection for travelers. These plans provide a variety of benefits including trip cancellation, trip interruption, emergency medical coverage, emergency medical evacuation, 24/7 emergency assistance, travel delay and baggage protection. Plans typically run 4-8% of total trip cost.

Example: For a $5,000 two week vacation to Aruba, a comprehensive travel insurance plan will cost a couple in their 50s around $200. This includes a $50,000 medical limit, $250,000 for medical evacuation in addition to trip cancellation coverage and other benefits. 

#2 Travel medical protection plans are the second most requested type of travel insurance. These plans provide emergency medical coverage, emergency medical evacuation and 24/7 emergency assistance. Trip cancellation is typically not included.

Example: For the same trip to Aruba, a travel medical insurance plan will cost a couple in their 50s around $80. This includes a $50,000 medical limit with a $250 deductible and $500,000 medical evacuation and other benefits. No trip cancellation benefits.

STEP 3: REQUEST A QUOTE, PICK PLAN

After doing some research and deciding whether a comprehensive or travel medical plan is the right choice, the next step is to request a free quote to review plan options in more detail. People can be intimidated by all of the options available, but the truth is, you shouldn’t. All it takes is ten simple steps:

Go to InsureMyTrip.

Start the free quote form. Fill out basic trip information.

Quote forms take less than 60 seconds to complete.
Quote forms take less than 60 seconds to complete.

Click “See Plans & Prices

Click See Plans & Prices. This will take customers to the quote results page.
Click See Plans & Prices.

Next, plan options will appear for consideration

This is an examples of a quote results page for a trip to Aruba.
Example of  quote results for a trip to Aruba. The main column shows the provider logo along with plan type, recommendation score, price, and options to buy, compare plan, or view more info. Next, plan options will appear for consideration

Select “Compare Plan” on a few plans to compare particular plan options side by side

Click to compare a few plans to help make the best choice.
Click to compare a few plans to help make the best choice.

When using the comparison feature, click view more info to review all benefits and exclusions closely along with the maximum amount allotted for reimbursement for each plan

By comparing plan details, travelers can make the best decision on what travel insurance is the right choice.
By comparing plan details, travelers can make the best decision on what travel insurance is the right choice.

Click “Buy” when find the right choice

 

Buy feature on InsureMyTrip
This is just an example of what the buy button looks like on InsureMyTrip. Not an endorsement.

Fill out the purchase and payment form

Examples of the Buy Plan page at InsureMyTrip.
Examples of the Buy Plan page at InsureMyTrip.

 

Once form is complete, expect an e-mail confirmation with policy details included. You’ll want to print and save the policy certificate details and bring along plan documents and 24/7 emergency customer service number on trip. (Also, it’s a good idea to get familiar with the requirements for filing a claim)

NEXT: Go on your trip!

Travel smart

Travelers can also reduce health risks while traveling by learning about destination-specific medical and safety concerns. The US State Department is a helpful resource.

Need more information? Talk to a pro. Visit http://www.InsureMyTrip.com or contact a licensed travel insurance agent at 1-800-590-2650.

MORE TRAVEL TIPS:

Buy cruise insurance

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