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10 Tips for Choosing the Right Travel Insurance for your Trip [ How to Choose The Best Travel Plan?] - YouTube
Channel: Let's Talk Money Channel
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Today I want to talk with you about travel
insurance.
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Is it really needed or it’s a waste of money?
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Whether you are traveling on vacation to Europe,
Mexico or have relatives visiting you in the
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United States, it is good to know how travel
medical insurance will help you avoid paying
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big bucks for unexpected medical expenses
during the trip.
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In this video I will cover frequently asked
questions about travel medical insurance such
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as: How much it costs, where to buy, what
kind plan is the best, how to find what doctors,
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hospitals and clinics are in network with
the travel medical insurance plans.
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I will also give you step by step instructions
on how to use the insurance to get the most
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benefits and give you tips on what to avoid
when shopping for health insurance online.
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We will also look at a side by side comparison
of a few travel insurance plans and I will
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explain in detail the coverage and restrictions.
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I will post a link under this video where
you can compare various plans and purchase
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a travel insurance plan.
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If you have a specific question that is not
covered in this video, please comment bellow
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or reach out to me directly and I will help.
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I am an insurance agent and know a thing or
two about insurance
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Before we begin, let me tell you this – the
cost of travel insurance is relatively low,
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and in most cases it makes sense to pay a
little money for protections that you can
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get while travelling to a new country.
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Some countries actually require travelers
to purchase travel insurance.
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In any case, the cost SHOULD NOT be the reason
preventing you from obtaining travel insurance
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as the protections from certain financial
risks and losses that can occur while traveling
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outweigh a small fee you pay for this sort
of insurance.
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Travel insurance is not expensive.
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The losses can be minor, like a delayed luggage,
or last-minute trip cancellation or it could
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be quite major like a medical emergency overseas.
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You can compare travel medical insurance plans
on my web site.
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I work with reputable companies and there
are plenty of options to choose from.
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If you are shopping for travel insurance it
is very important to understand from the start
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what are you protecting?
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Is it the risk of paying big buck for medical
care in a foreign country or you just want
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to be reimbursed the money you paid for your
air ticket or hotel.
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Keep in mind that these are 2 different things…
and if you only want to get your money back
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for your vacation cost, don’t even bother
with buying insurance.
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You can either use the credit card to buy
the package and get reimbursed though the
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credit card company or buy the insurance directly
from the travel agency at the same time you
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buy the tickets.
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But if your goal is to cover bigger risks
and costs related to the medical care in a
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foreign country, then keep watching, I will
tell you all about that!
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Here are a few things you should know about
travel insurance:
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• Benefits vary by plan.
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It’s important to choose a plan that fits
your needs, your budget and your travel plans.
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I recommend comprehensive travel medical insurance
plans.
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• Travel insurance can’t cover every possible
situation.
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Insurance companies offers named perils travel
insurance, which means it covers only the
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specific situations, events, and losses included
in your plan documents, and only under the
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conditions described.
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So, if you are planning to go ski in the Alps,
make sure that your insurance company specifically
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covers this activity.
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• Travel insurance is designed to cover
unexpected events- not things you could easily
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see coming, or things within your control.
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If, for example, you wait to buy insurance
for your beach trip until after a named hurricane
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is hustling toward your destination, your
losses wouldn’t be covered.
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The same thing goes for health issues… if
you try to purchase travel medical insurance
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after you had an accident and broke a bone
or something, you may not benefit from insurance
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as this could be excluded because the accident
happened before you bought insurance.
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The same applies for pre-existing conditions.
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You have to be careful and read the details
of the policy as there are exclusions for
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those who have chronic conditions.
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Treatment for the pre-existing condition might
be excluded, but the acute onset of pre-existing
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conditions might be covered; so make sure
you understand what this means.
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If you have questions, please feel free to
reach out.
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• Also, travel medical insurance covers
medical emergencies.
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If you are buying insurance so you can see
a doctor in another country to get diagnosis,
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treatment or a second opinion- this won’t
be covered.
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Let’s take a look at a side by side comparison
of a few travel medical insurance plans.
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This comparison will help us answer such questions
as:
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-How much does the travel insurance cost?
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-What is a deductible and how does it work?
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-What is covered and what is excluded from
the travel medical insurance?
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-How to find medical care in network with
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your insurance company?
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-How
to
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get reimbursed in case
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of
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a claim?
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