How to Get Good Multi-Trip Travel Insurance
If you regularly travel for business or for personal reasons then you should ensure that you’re protected while you travel. While credit cards and employer insurance may offer travel insurance it is often limited in the amount of time per year you can be out of the country and it often doesn’t offer the same kind of coverage as a travel insurance policy.
The list below will help you determine the proper coverage that a regular traveller like you should have. Regardless of whether your company provides travel insurance for you or you buy travel insurance for yourself the list will help you determine if you have adequate coverage for your needs or help make you a more informed shopper the next time you renew or purchase a travel insurance plan.
- What is the limit on days covered? The majority of multi-trip insurance plans will include some form of limit to the number of days you can travel. It’s important to ensure you’re covered for all of the dates that you travel.
- What is the financial cap? There will always be a maximum amount paid out in the case of a claim. Make sure the amounts are adequate for your needs.
- Does it cover domestic and international travel? This is fairly self-explanatory and yet you’d be surprised how many people don’t think to consider it! You certainly don’t want to have a medical crisis in a foreign country and find out you don’t have insurance for it. Make sure your policy covers you for the type of travel you will be doing.
- What does the medical coverage include? Travel medical is the most important part of any travel insurance. Ensure that you will have adequate medical coverage. Consider whether you want emergency coverage only or if you need to expand the policy to include things like prescription replacements. How about emergency travel to get you to the best possible care in case of any major health-risk?
- Do you need trip cancellation or interruption? This insurance helps refund you or get you home in the case of trip cancellation or trip interruption. It can also help you deal with delayed flights and loss credit cards – two of the most commonly reported travel claims. This form of travel insurance policy is most often defined by a financial limit of claims covered. Note that you may have the option to opt in or out on some aspects of basic coverage.
- Do you need rental car coverage? Your regular car insurance policy may cover rental cars but many do not add on this coverage or their policy will not apply outside of Canada. You can include this in your multi-trip travel insurance to avoid purchasing a flimsy expensive plan from the rental dealership. This is essential if you plan on renting a car or doing any type of driving while you’re abroad.
- Do you want coverage for lost baggage? This coverage will help you get what you need while you wait for delayed baggage to arrive. If the worst happens and your luggage is officially lost it will also help cover the costs of replacement.
Make sure the company you choose has a decent reputation for its claim handling process and will provide help if you face problems while travelling. Of course your broker will always there to help as well.
We all hope we’ll never need to rely on our insurance policy but the fact is we may need it. The more we travel the more likely we will rely on it. It can be tricky to guess what situations you might encounter and for which you might need coverage as you travel. Your broker can help you decide what the right levels of travel and medical insurance you need for yourself and your family so that you can travel without a worry.