Before you purchase travel insurance, do a little research. Find out what's covered by your homeowner's insurance, credit card provider or your existing health insurance policy. Homeowner's insurance might cover lost or stolen luggage, but it won't cover other travel-related incidents such as trip cancellation. It's likely your existing health insurance won't cover medical expenses outside of the country.
Once you've determined what coverage you already have, choose travel insurance to fill in the gaps.
Tip: A student or youth identity card (available from the budget travel agency Council Travel) includes basic travel insurance.
Most travel insurance policies have a deductible. Premiums are based either on the length of your trip or a percentage of your trip's cost.
Four basic types of travel insurance exist:
Policies can vary widely in the types of incidents they cover and the coverage amount. Here are some common features that can be included:
Like most insurance policies, travel insurance has many exceptions. Here are some common ones:
Here are some tips to get your search started:
Several factors will determine which insurance policy is best for you:
Weigh your needs against the types of coverage offered. Remember to read all the fine print. Consider:
By T.D. Wood
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Last updated: 08/27/2012
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