TRAVEL INSURANCES: EIGHT THINGS TO LOOK INTO

2007-04-17 04:46:40

( Travel )



The following eight items are the things that you need to look into when shopping for travel insurances.

1.Policy Document

Read carefully the insurance policy document to know the things covered and not covered by travel insurances. Please note, however, that coverage will vary across policies and across insurers. Thus, it is better to compare policies across travel insurances.

2.Conditions, Exclusions and Warranties

Individual sections of travel insurances policies indicate conditions and exclusions of the policy while the whole policy indicates warranties by the insurance company and the travel insurance policy itself.

3.Health

Inquire on the restrictions on pre-existing medical conditions of those people who are using travel insurances that you will purchase. It is better to understand the details of the pre-existing condition restricted under the travel insurance policy to forewarn you of the limited liability or coverage of the insurance policy when you met accidents primarily caused by such pre-existing medical conditions.

4.Hazardous Activities

Identify the hazardous activities that you might partake while in travel and have it covered in your insurance policies. You inquire from your insurance agent how much additional cost you will pay if you have these activities included in your travel insurance.

5.Property Claims

Inquire from travel insurances policy if they cover property claims on assets lost while on travel. The payment on lost property relies on the value of the property at the time that you lost it. Your policy will indicate the type of proof that the insurer will need when you claim for lost property.

6.Policy Limits

Inquire on the policy limits of travel insurance policies. There are sections in travel insurances policies such as the one offered by Manulife travel insurance that indicate the maximum amount the insurer will pay for travel insurance claims. Check on the specific limits that travel insurance policies can cover such as properties brought during travel as well as maximum amount of medical expenses to be covered.

7.Complaints

Determine whether the travel insurance policies indicate steps to take when you are filing complaints related to the enforcement of travel insurance policies.

8.Cooling Off Period

The cooling off period in your policy indicates the period allowed where you can cancel your travel insurance policy and demand for refund. You must indicate, though, justifiable reasons why you are not satisfied with the policies of the travel insurance.


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