There are two cardinal rules of insurance that everyone needs to remember: first is to always know your needs; and second is to always know the terms of your insurance policy. These apply to all kinds of insurance, including the ones for travelling.
There are various types of travel insurance out there and a lot of companies ready to cater to your necessities during your trip. All you just need to keep in mind is to be wise in choosing the policy that will well provide you with everything that you require.
Single Trip Insurance
If you will be travelling somewhere on a vacation or for the holidays, then it is most likely that a single trip insurance will suit you.
This kind of policy will cover your basic needs like emergency medical assistance, ticket reimbursement upon flight cancellation, personal liabilities, and your personal belongings. Single trip policies are valid during your entire trip. There may be a maximum of days, mostly up to 180 days, but it depends on your provider of choice. However, most companies offer extension of coverage in the event that you may need it.
A single trip insurance can also be modified to a family trip premium if you’re going to bring other family members like your children. Single trip insurance policies are sometimes more affordable and are more specific to your travel needs.
Multi Trip Insurance
For people who travel frequently multiple trip insurance should be the choice.
Multiple trip insurance can cover up to 365 days, hence it is also termed as annual travel insurance or daily travel insurance. You can go and take several number of trips per year, but remember, there is a maximum number of days that your policy can only cover per trip. It is usually 30 or 31 days per trip.
This kind of travel insurance is more practical and will save you more money if you plan ahead to know how much travelling you will be having in a calendar year. It is also more convenient because you do not have to purchase a new insurance every time you have to go on a trip. Another advantage is that you will not have to worry about getting covered by a policy in case you decide to take a last minute trip.
Because multiple trip insurance has a limit to the number of days that it will cover your trips, you can consider another type of policy. Ever heard of backpacking insurance?
If you think you’ll have a more extended time staying in one place during your trip, or if you cannott guarantee the duration of your trips, the backpacking insurance is the policy that will fit your needs. The policy is very similar to multiple trip insurance. The only difference is that the backpacking insurance has a higher cap on the number of days that it will cover your trip – up to 18 months for some companies.
Travel insurance is a sure way to free your mind of worries and have an easy pleasant trip, may it be once or more than three times a year. Just choose the policy that will fit your special travel needs. You can now compare the quotes and rates of the different policies between insurance companies on GoBear’s website.