If you missed Parts 1 and 2 of this series, you’ll find them in our e-letter archives, here:
*Part 1 — Travel Insurance: Should You or Shouldn’t You
*Part 2 – Travel Insurance: You May Already Own It
Today, let’s assume that you’ve determined that you do, in fact, need travel insurance and that now it’s time to buy. Where do you start?
First, a disclaimer: No matter which carrier you choose, you should always know precisely what you need, have your questions ready, and read the fine print — with a magnifying glass!
When looking for the right insurer, be sure to select one that is well-established, has worldwide offices, and provides 24/7 customer-assistance service. Or choose a company where a friend has had a positive experience dealing with a travel emergency or filing a claim.
If you really don’t know where to start, a good way to compare companies and prices is with an online comparison tool like http://www.insuremytrip.com.
One of our readers recommended it to us, and we love it. You simply go to the website, answer a few questions, and up pops a list of policies and prices that fit your trip.
It’s a reputable reseller. We did a little snooping and found that they’ve been around for 10 or more years, they’re rated really high on review sites, and they’re rumored to have great customer service and follow-through. (We tried their online help box, and they answered our questions right away in a very friendly, easy-to-understand way.)
But what’s even more important is that their prices seem to be cheaper than those found directly on the sites of the policies they’re hawking.
That may not always be true, but I know I’ll certainly check back here the next time I’m looking for insurance.
FOUR MORE TRUSTED INSURANCE CARRIERS…
Again, you’ll want to do your own research but here are a few insurance companies you can also check out if you’re in the market for travel insurance…
Remember: Medical coverage and evacuation are important, especially for seniors. And while fees tend to vary (sometimes by $50-$200), it may be worth it to pay more.
*** MH Ross Company, Inc. offers trip-cancellation and interruption protection, and also covers terrorism, travel delay, medical and medical evacuation up to $1,000,000, rental- car and flight insurance. It’s the most comprehensive of those listed here… but if you’re already covered for flight or rental car through your credit card, AAA, or another source, you may be able to find a better deal with a policy that doesn’t feature those points.
*** Travel Guard-Protect Assist Plan is simpler than MH Ross Company, Inc.. It offers trip-interruption and baggage claim but no accidental death. And the medical and medical evacuation coverage reaches to just $50,000. They don’t offer rental-car insurance. You can get flight insurance for an extra charge.
*** Travel Safe provides large sums for trip-interruption, baggage claim, and especially medical and medical evacuation ($1,000,000). It doesn’t cover rental-car or flight insurance. However, if those things are already covered by your credit card, Travel Safe might be a good fit for you.
*** Travelex offers the same features as the above three, and includes rental-car and flight insurance, accidental death, and medical evacuation up to $500,000.
DISCOUNTS FOR FAMILIES, TEACHERS, AND STUDENTS
Again, I’d start your search at www.insuremytrip.com. Keep in mind that a “family plan” may save you even more money. (And your family members may not have to live together to qualify.)
Also, I noticed that if you purchase MH Ross or Travel Safe through http://www.insuremytrip.com, you can get additional “cancel for any reason” coverage. This enables you to cancel a trip within two days of departure and still get a refund of up to 75% — instead of credit towards a future trip.
If you’re a student or teacher, you may want to look into travel insurance through STA travel (www.statravel.com). You must purchase membership ($22) but once you do, you can get up to 13 months of coverage at low prices. They provide all the types of coverage the companies above do, and you can choose coverage of anywhere from eight days to 13 months. Six months of coverage costs $390 per policy.
[Editor’s Note: Learn more about opportunities to profit from your travels (and even from your own home) in our free online newsletter The Right Way to Travel.]
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