Travel is an extremely expensive activity.
After adding up the cost of airfare and hotels, the total cost runs into thousands of dollars (this of course depends on where you go and how many people are involved.
) The potential financial impact of something going wrong has convinced many travelers to purchase travel insurance.
This is a great idea that can give you peace of mind..
However, there are some things you need to consider when purchasing this type of insurance.
Even though it is a relatively small amount of the total cost, a policy often costs several hundreds of dollars (if not more).
Knowing a few tips can save you a great deal of money.
First of, you should definitely be aware of exactly what is and isn't covered.
Find out how to properly document any illness (often a doctor's visit and note is required.
) Be aware that pre-existing medical conditions and terrorism are often excluded from coverage.
If you want to be covered for losses related to these sources, you will need to purchase supplementary insurance.
Second, you should avoid buying insurance from a travel agency.
Many consumers buy coverage from them because it's convenient.
Agencies are aware of this and often add a large mark-up on them.
Think of it - is food cheap at a convenience store? To get the best pricing and coverage, you should buy directly from an insurance company.
It often takes only a few minutes to get a quote from a website, making price-checking an easy to do.