Wednesday, January 12, 2011

How To Get Cheap Travel Insurance

Insurance saves money. Without cover the costs can amount too much
more, and have even made others bankrupt. There is no catch-22
situation, it is always best to pay. However, the intelligent person
can reduce the amount of cost to a large extent by taking into account
some things.
  • Buy travel insurance online, buying online can save up to 20% of
    the cost as there is no need for an agent. Most companies encourage
    online shopping, because it reduces their overhead costs as well.
Group-travel insurance when travelling to a place as a group. It is

smarter to buy as a group or a cheap family travel insurance, as the

premium is slightly higher than an individual. However, if all persons

who purchased separately will end up paying much more than if they

bought coverage as a group.
  • Existing insurance covers most health insurance, and provides a
    policy for health in foreign countries. If applicable, check whether
    current health insurance provides coverage and to what extent, then buy
    a travel insurance policy; also smart to check if personal lines
    insurance or home insurance includes international auto cover, in case
    of driving. Most driving policies do not relate to driving in foreign
    countries unless specified.
The idea is to check for any existing cover in part,
then buy cover the other items needed, instead of paying for the whole
  • Select between single trip insurance or annual, as the costs can be
    significantly reduced over the year for multiple trips, if annual
    holiday insurance is chosen.
  • Confirm the deductibles: deductibles are the amount of the bill
    payer, and the rest of the bill is paid by the travel insurance
    company; the higher the deductible, the lower the premium.
  • Confirm the co-insurance. Co-insurance is the percentage of the
    bill to pay to claim the costs under the policies coverage. The higher
    co-insurance the lower the premium.
Gauging the right cost is a matter of finding the balance between deductibles, co-insurance and premium to suit the pocket.
Article Sources By Camaron Lamont

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