We follow SeekingAlpha and their coverage of financial issues for a variety of reasons. In a recent article, as part of their Sound Money Tips column, they reminded us of the importance of travel insurance. We continue to emphasize this ourselves.
They advise the following three hints:
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- Read the fine print – Unless you know what you are covered for and not covered for…you could get into trouble.
- Timing is Everything – Insurance policies have different advance purchase restrictions. The most common is that purchase must be a certain period of time from initial trip deposit to be covered for pre-existing medical conditions.
- Determine the Deductible – They advise you should find the amount that you have to pay before the travel insurer starts paying. While insurance is usually cheaper with a higher deductible, deductibles are usually only on business policies, not vacation policies.
Vacation policies are restricted to thirty days or less, with a charge for each day over. Business traveller policies are period based.
We remind you of our partner, Insuremytrip.com….
