It’s once again the season of holiday travel and vacation. Before packing your bags, and reserving hotel rooms and restaurant seats, the first thing to do is find your way to your dream destination! If you pan on having your trip scheduled by a travel agency, they might be offering you their affiliated insurance policies. You can also pick among the numerous options of travel insurance policies depending on the cost and the coverage that you need and want. However, this may be tedious and may turn out to be costly to the inexperienced travel planner.

Despite this, we already know that a vacation should never be planned without proper travel insurance, wherever it may come from. It allows us to go through with our travels and sleep at night, knowing you’re secured with whatever accidents or inconveniences come along the way.

travel insurance

This is why when the airline offers internal and domestic travel insurance with the bought flight ticket; most people would take it in a jiff, often and regrettably, without reading the fine print. This is done for the sake of convenience and time saving, among other advantages. It’s always best to know everything before signing up for the company’s insurance policies. This is why we, at GoBear, have rounded up everything you need to know about travel insurance policies offered by your airline!

Why you SHOULD avail airline travel insurance

Convenience

Checking out at the airline’s ticket counter, you can check out their travel insurance policy along with your ticket. This helps you save a lot more time, instead of checking out multiple policies from different providers. This way, you get your peace of mind as early as when you purchase your flight ticket! Choose to do this, especially when you’re under a time crunch of planning an enjoyable and very safe vacation for you and your family.

Why you should SKIP on airline travel insurance

Coverage

Of the airline business itself, travel insurance from airlines might only offer trip security, or the parts of the coverage concerned with the flight itself – trip cancellation, baggage delay, etc. Watch out for airline travel insurance policies that skip on medical assistance and/ or liability coverage in case of emergencies that may happen during your entire vacation.

For a more realistic and practical set of examples, we will look at the most popular airlines in the country that offer travel insurance, Philippine Airlines (PAL)Cebu Pacific Air, and Air Asia Philippines for overseas travel. The maximum coverage in each policy is listed as follows. As you will see, PAL’s insurance policy is the most comprehensive among the three, while Cebu Pacific’s lags the list.

travel insurance

Cost

Travel insurance that most airlines offer comes from partner insurance companies. Because the airline plays as the middle man, the price of insurance bought from them hikes up. While you still get good coverage in your policy, it might cost more than shopping directly for one. The cost increases with more benefits and coverage, old age, and farther destinations.

Tips for planning a fantastic vacation

1. Plan early

If you’re looking to save more in the long run by having travel insurance, then why not save for the whole trip at all? Flight tickets, hotel accommodation, and other reservations come at a much lower price when booked ahead of time. We all buy travel insurance, hoping never to use it. Planning early means you reduce the surprises of inconveniences and even accidents throughout your trip. It’s essential to make sure to book your vacation under the right weather conditions, so you’re sure to arrive and stay safely in your destination!

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2. Check your credit card

You might not even need an external travel insurance policy if you book your travel purchases with a credit card. Check for credit card travel insurance which comes for free with your card. These policies will have some benefits that you will also find in other providers – trip reimbursement due to flexible cancellation, flight and baggage delay benefit, and even medical assistance and accidental death and disablement benefits. Travel amenities offered by credit cards would also include access to VIP lounges and 24/7 concierge service.

3. Know your rights

You choose to skip on travel insurance policies, then at least know your rights as a passenger. Most airlines have flight delays and cancellation benefits. If the flight is delayed indefinitely, the airline should have to provide hotel accommodation and even living allowance for the duration of the delay. Ask about these benefits upon purchasing your flight ticket.

4. Read the fine print

Rushing to book a flight or fill out papers, avoid signing to pay for travel insurance that’s not as comprehensive and beneficial as it looks. Take your time to read the conditions and the claiming process of the insurance benefits. If it does not satisfy your criteria for proper travel insurance, know that there are always other options.

5. Shop around

There’s no problem if you don’t find the travel insurance you need from your airline. There are still many choices for travel insurance everywhere you look. We have them here for you too in GoBear! Check them out now!

HSBC plat

Free travel accident insurance and travel inconvenience coverage. Apply now!

Bottom line:

The key to perfect and hassle-free vacation is meticulous planning. Determine when and where to go, how to go there, what to do there, how much the budget is. However, know that no matter how careful you plan the smallest of details, something can always go wrong. Don’t skip on travel insurance to save a few pesos. Save more in an emergency when you avail of good travel insurance. HAPPY TRAVELS, BEARS!

GoBear team

GoBear team

GoBear Team - Our content creators collaborate to come up with finance articles that will make financial literacy a joy to learn and financial security an attainable goal.

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