There are many places in the world which people like to visit. People like to visit different places for tourism, studies, jobs, business, and many other things. People can go for national as well as international trips. Misfortune can happen at any time. People may fall sick, meet with an accident, lose their baggage, lose important documents, and many other things. In such cases, if the lost things are insured, people will get compensation up to a certain extent. People can purchase the best travel insurance to be compensated for all such things. People can go for Hong Leong Insurance in Hong Kong which is considered one of the best travel insurance companies. In this article, we will discuss the tips for purchasing travel insurance. First, let us know what travel insurance is.
Travel Insurance
People can purchase travel insurance to meet various kinds of unexpected expenses during their trip. There can be medical emergencies, loss of baggage, etc. and such things can be easily compensated with this insurance. The coverage depends upon the following criteria
- Type of travel insurance plans
- The company providing the insurance
- Deductible amount
Many policies provide either low or high medical coverage. High medical coverage depends on the country where medical expenses are high.
Tips for purchasing the insurance
There are many tips that a buyer has to consider to buy a travel insurance plan. These tips are as follows.
Type of travel insurance
Travel insurance is of many types and the buyer has to choose the one which is necessary and covers he belongs, medical expenses, and other things. Here are the things that he has to consider.
- City or country to which he has to travel.
- Types of vehicles used like a rental car, train, flight, etc. The coverage will change according to the mode of commutation.
- Activities that he has to perform at the destination like going for a business meeting, play sports, tourism, etc.
- Duration of the trip
- Number of people going with him
- The cost of the baggage and the things inside
Coverage included
People need to check whether the medical coverage included ion the policy will cover only medical expenses for the foreign countries or it will also include any kind of medical treatment in the home country.
The requirement for the reimbursement
People need to inquire whether a written document is needed for the proof of the accident or medical expenses. They also need to ask about the type of documents that are needed for reimbursement.
Amount to be paid for premium
The buyer needs to check the premium amount that they need to pay for the insurance. He should also inquire whether he can upgrade or downgrade the policy so that payment of premiums can be made easy.
Cost of insurance for baggage
The buyer should consider the amount that will be needed to protect the baggage. He should also check the number of items that he can carry so that it can be covered under the policy.
Things that are not covered
People can drink alcohol or take drugs and after which they may drive and meet with an accident. Such cases are not covered in the insurance policy. Some other things that are not covered in this insurance policy include
- sports in which there is a high risk
- Countries where there is a high risk like war, crimes, natural disasters, etc.
- Medical conditions that are already there before the trip like heart problems, lung problems, etc.
If the buyer needs to cover these things, they have to pay the additional cost for the insurance.
If the buyer has any pre-existing medical conditions, he has to tell it to the company. If he will not do so, all the coverage will be nullified and he will not get anything.
Exclusions should be checked
Travel insurance policy has various types of exclusions and these are listed below.
- Places which are prone to natural disasters and severe weather conditions
- War, terrorism, uprisings, etc.
The buyer has to choose such a policy that has the least exclusions. The buyer has to check the exclusions properly which may include some of the medical conditions.
Things to do to reduce the premium
Here are some of the things which people need to do to reduce the payment of premiums for travel insurance.
- In the case of domestic trips, there is no need to purchase travel insurance as home insurance covers all the belongings which may also include those that are carried on the trip.
- Travel insurance can be purchased online as it is cheaper.
- Group policy is a better option as it is cheaper in comparison to an individual policy.
Wrapping up
These are some of the tips which people need to consider while purchasing the best travel insurance policy from an esteemed organization like Hong Leong Insurance. They need to check certain things before purchasing the policy like exclusions, premiums, etc.
