These days with lost luggage on the increase, weird weather interrupting travel plans and the odd terrorist attack one thing that you probably should not skip is the travel insurance. Here are a few secrets to get the best value travel insurance.
* Shop Around. Firstly shop around on the net and get a couple of quotes. Then go and hit up a few high street travel agents. Insurance is a big fat earner for travel agents. Where typically they get anywhere from 1% to 10% on standard travel bookings like air , cruise & hotels on travel insurance they can earn up to a whopping 50% commission. Sooooo there is plenty of room for them to move on your travel insurance costs and still make a good margin.
* Check what your credit card offers. Most credit cards - particularly if you have a Gold or Platinum card offer free travel insurance as part of the deal on your card. I have lost track of the number of people who 'forget' they have travel insurance through their credit card and then go and buy additional insurance ! However make sure you call your credit card company and find out what it covers. They will also normally insist that you pay for your travel using the nominated card to get the free insurance.
* Never leave out pre existing stuff when you are taking out your insurance. If you have ANYTHING wrong with you no matter how minor get clearance from the insurance company. I know of a recent horror story where a traveller had a very very minor fall and scrapped her leg just prior to taking out travel insurance. A few weeks after taking out the insurance her leg blew up into a painful sore which required her to cancel her trip. The insurance company then tried to back away from a $10,000 claim ! After much huffing and puffing they finally gave in. So the lesson here is no matter how minor a complaint you might have at the time of taking out the booking mention it to the agent and get pre clearance. Make sure you note down the agents name and the time you made the call. Bottom line : Insurance companies like to take your money but hate to pay it out.
* Make sure you nominate the big ticket items ! If you read the fine print of your policy It will insure you for say jewellery up to $500 . If your wearing the expensive Rolex worth $2,000 you better mention it because if it gets nicked your out of pocket.
* Read the policy. How many of us just tick the 'I agree' box and never read anything ! This is one document you should read to make sure your covered for everything you want to be covered for. Unfortunately the line " I thought I was covered for that" just does not wash for the insurance companies who will always do everything they can not to pay out !
If you have any additional Travel Insurance secrets we would love to hear them !
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