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Travel Insurance FAQ

Buying travel insurance is not always a question of choosing the package provided by your tour operator or airline. In fact, it pays to shop around and consider what you need from your international travel insurance before you spend money. Here are a few things to consider when you are buying international travel insurance for your forthcoming vacation or business trip.

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Should I buy single trip travel insurance or an annual plan? This depends on how often you travel. If your overseas travel amounts to one week a year then a single trip policy will suit you best. If you travel frequently for business or pleasure then it may be more economical to purchase an annual travel insurance plan. This way you don’t have to worry about getting separate cover for every trip you take. Take care – some annual plans limit the amount of time you can spend abroad per trip; it is worth checking the small print.

When does trip cancellation cover begin? If you buy travel insurance with trip cancellation insurance then the trip cancellation part of the cover usually begins when you buy the policy, and it lasts until you depart for home. This means that it is worth getting your insurance as soon as you book your trip particularly if you are traveling in winter or bad weather season.

What is an excess? The excess is a part of the claim that you, the insured, has to pay. For example if you have an excess of $50 on your baggage then you pay the first $50 in compensation for lost baggage and receive the rest of the value of the items from the insurance company. You can get a lower excess by paying slightly higher premiums. Do travel insurance plans cover winter sports or extreme sports? Some do and some don’t. You need to check the details of your plan to make sure you are covered for the activities you plan to take part in. Shop around for the best deal on winter sports coverage.

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