What’s the right travel insurance plan for you and your trip? The one that gives you the coverage you need and pays your claims, of course. Yet unpaid travel insurance claims are one of the biggest point of contention travelers have about travel insurance.
It’s understandable. You buy a plan and expect it to pay out when you run into trouble.
The problem is this: most travelers don’t understand what they’re getting and they don’t read the exclusions.
So, when they read that their plan has ‘trip cancellation’ they expect that to mean it will cover any trip cancellation. Unfortunately, this is a naive assumption. All insurance plans have exclusions.
So, how do you know you’re getting the right travel insurance plan? Here are 4 steps:
1. Decide what travel insurance coverage you need
If you don’t have a lot of pre-paid money tied up in your trip and you aren’t worried about cancellation, then you may not need trip cancellation coverage, for example. If you’re traveling outside your health insurance network, be sure to get travel medical coverage.
What coverage you need depends entirely on your personal situation, your trip, what you plan to do on that trip, and who...