I’m sure you’re thinking about buying travel insurance. You’re currently on this awesome website that allows you to compare financial products after all. But buying involves more than comparing; you’ll be a wiser consumer when you:

1. Name what’s important to you in travel insurance

Your favorite wellness guru would ask you, “What do you want to do with your life?” Try answering that, because your lifestyle and activities will determine the best insurance plans for you. If you love out-of-town trips, a travel insurance plan will fit your needs.

You might also want to look into your age and budget, as well as insurance coverage you might already have via your job or your parents’ past wise actions.

2. Rank those important things

There’s a reason Angelina Jolie insures her lips, but that doesn’t mean you should. Good news: not all of your things need to be insured. That sound you just heard is your wallet breathing a sigh of relief.

But you do need to insure things that are more important to you. If you travel regularly on the job, you can’t suddenly stop just to avoid possible accidents on the road, so you do need travel insurance in that case.

3. Go compare between insurance companies, but look past the prices

Now, you know what you want, what you really really want. Let’s say you like to travel a lot. Now’s the time to compare travel insurance products and what they offer.  But keep in mind that cheap doesn’t necessarily mean good.

You might be tempted to go for the most affordable plan out there, but look past the price tag and into the fine print. That way you know if you’re getting a bigger bang for your buck.

4. Look into your chosen insurance coverage

The research work doesn’t end with the comparison website. (We hope to see you again here, wink wink.) A wise buyer also looks into where he’s buying the product. Most insurance companies are on this same digital space we occupy, so you might as well see what they are saying or what others are saying about them.

Doing this online stalking worthwhile research endeavor can make you aware of the company’s other travel insurance products, as well as past customers’ experiences and potential issues to look out for. 

5. Talk to an expert

There are some things the Internet can’t teach you directly. An insurance agent can help you more when, say, you don’t understand details about travel insurance coverage on the plan you are planning to buy. It’s their job to know this stuff, after all. Just be aware that an agent can be captive (beholden to one insurance company) or independent (works with multiple companies).

Quite a lot of work, right? But it’s worth it when it can end up saving you future trouble and giving you peace of mind.

Confused about which travel insurance to buy? Compare travel insurance with GoBear — Asia's only meta-search engine for financial produts like insurance, credit cards and personal loans.