Travel insurance can be expensive, but it’s also important. After all, if you do require emergency medical care in a foreign country, without travel insurance you could be spending hundreds of thousands of dollars out of pocket. That’s why it’s essential that you have insurance while traveling abroad, however, you shouldn’t have to spend a fortune either. Read our tips for finding affordable travel insurance below.
Buy only what you need.
Travel insurance can include trip cancellation insurance, trip interruption insurance, baggage insurance, and flight delay insurance in addition to medical travel insurance. Have a look at the policy and see if it includes any unnecessary add-ons. Eliminating anything that you don’t think you’ll need can help to decrease your travel insurance cost.
See if you’re insured already.
Some credit cards offer travel insurance, as do some work health insurance plans. Check with your credit card company and your employer to see exactly what (if anything) is covered when traveling.
Look for bundles where you can.
If you’re traveling as a family, see if you’re eligible for a family discount. Often insurance companies will insure minor children for no cost under their parent’s travel insurance policy.
Consider increasing your deductible.
You’ll almost always pay more for a zero deductible policy. Increasing your deductible, and taking on some of the risk can be a way to lower the cost of your travel insurance policy. Just be sure you don’t increase it more than you’d be able to pay should you find yourself in an emergency.
Remember cheapest isn’t always best.
When shopping for travel insurance, don’t consider price alone. It’s important to be sure that the policy meets your needs. Many policies won’t cover camera or computer equipment, sporting activities, or a pre-existing medical condition. Therefore, you need to balance finding a travel insurance plan that meets your needs and fits your budget.
Canada Protection Plan is a leading provider of No Medical Life Insurance. Call us today, toll free at 1-877- 851-9090 for your no obligation quote.
