Most people avoid paying extra for insurance but the peace of mind it gives is worth every peso. Your dreams of hanging out at the Marina Bay Sands in Singapore and seeing the Instagram-worthy cherry blossoms in Japan don't have to be derailed by events outside of your control.

Whether you're traveling with your family or going on a solo trip, getting travel insurance can come in handy in case of an emergency. Here are things you should know before deciding which travel insurance product you should get:  

What is a travel insurance?

Travel insurance is designed to cover unexpected events and medical emergencies during the trip. Its coverage also include trip cancellation, personal reasons, lost, stolen or damaged luggage by an airline, and other travel inconveniences incurred while traveling.

Know the Coverages

Travel insurance products come in a variety of coverage based on different circumstances. For instance, a trip cancellation covers pre-paid and non-refundable expenses if your flight gets cancelled. Look for insurance providers that offer comprehensive travel insurance products that would be perfect for your trip. 

Do you have a credit card? If you do, you can check your credit card coverage as your bank might be a partner of an airline that runs offers for cardholders. Some credit cards include travel insurance when you use them to pay for your flights, hotel accommodation, etc. 

Know the different types of policies 

There are two types of travel insurance policies: the single-trip policy which covers a single trip and the annual multi-trip policy for every trip you make for a year. 

A single-trip policy is designed for people who leave home to fly around multiple countries and return home only once. If you're a frequent traveller, then the multi-policy may be your next option as it provides protection when you leave and return home multiple times.

Look beyond the cost

Travel insurance is not different from other insurance policies. Consider policies that cover medical expenses, personal liability, trip cancellation, and cost baggage. 

The level of excess you choose for – for instance, the part of the claim that you have to meet before the insurer pays you out – will affect your premium. Bear in mind that all insurers will allow you to adjust the excess, but the more you are ready to pay, the lower your premium will be. 

Check your coverages

Before deciding which type of travel policy you should get, check your health insurance provider if there are circumstances that have already been covered to lessen your expense. 

Going on a vacation soon? Start looking for the best travel insurance to accompany you on that trip.

Get the travel insurance that’s affordable and suitable for you. Let GoBear help you find the travel insurance simply comparing travel insurance today!


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