Travel insurance is one of the most important things to consider when you travel - yet it's often overlooked by travelers when planning their trip.
You don't drive a car without car insurance or own a home without home insurance. Why would you risk traveling the world without travel insurance?
While it may seem like an unnecessary expense, travel insurance provides an important safety net when you're
Illness and injury, canceled flights, damaged electronics, lost luggage, death of a family member back home - all these are covered by travel insurance.
In short, travel insurance is an all-purpose emergency coverage plan. This is one of the most important items for your trip and something I strongly recommend travelers never leave home. I've seen it help so many people over the years - who would have otherwise been out thousands of dollars.
I used it for a doctor in Argentina, when my camera broke in Italy, when my eardrums broke in Thailand, and when my luggage was stolen in South Africa.
Each time I was reimbursed for my expenses and completed again.
Travel insurance was there when my friend fell off a boat and had to helicopter out of the Amazon, when another friend's father died and he had to fly home, and when another friend had his bag stolen.
Travel insurance is designed so that you don't lose a ton of money in the event of an emergency abroad. Since most domestic health insurance programs don't cover you abroad and travel credit cards offer limited protection, buying travel insurance is something you must do to protect yourself from the unknown.
Since travel insurance is one of the most complicated, important, and confusing aspects of trip planning, I want to break it down for you, help you understand what it's all about, and show you how to choose the best travel insurance plans in just a few steps!
What to Look For in a Great Travel Insurance Plan
Insurance is a billion-dollar business and everyone wants their hand in the cookie jar. As a result, you are faced with so many companies, policies and terms that can be confusing and overwhelming.
And, in the fine print, you'll often discover that the plans aren't as good as they initially appear.
So what should you do now?
First, make sure that your travel insurance provides a high coverage limit for your medical expenses. A good company will provide coverage up to $100,000 USD in care, although more expensive policies will cover you for a higher amount. The highest coverage limit you can find is around $2,000,000 USD, although I'm not sure why you would need such a large limit.
High coverage limits are important because if you are ill, injured or need serious attention and professional care, you want to make sure that your high hospital bills are covered. The worst thing you can do is go cheap and get a policy with a $20,000 USD coverage limit, break a leg, and reach that limit before you run out of care. Don't be cheap with your health. Make sure you have coverage of at least $100,000 USD.