– How To Get The Best Value

If you are an occasional traveler you’ll probably buy your insurance from the travel agent. But if you travel more than twice a year, it is much more cost effective to have one insurance lasting all year round, than buying one every time you travel.

Think ahead, plan ahead. Annual easily pays for itself with just a couple of trips. But not all insurances are worth the same and as always cheapest is not necessarily the best. More on this later.

Annual is not compulsory but it gives you the peace of mind case of illness and loss or damage to property and many other events. Where is the best place to buy annual ?

1. Your bank is probably the first place you’ll try. Banks have in recent times become highly competitive and in order to retain your business, may offer better rates. For example my bank has upgraded my checking account to a premium account and for that I pay $20 per month.

As a result I get several privileges including free, worldwide, comprehensive . But here is the best part … I get all this free not just for myself but also for any member of my family traveling with me including my parents and siblings.

I said free because I am already getting other benefits which are worth a lot more than $20 per month if I were to buy them individually. I also save a lot of time as I never have to look around for insurance. So don’t ignore your bank.

2. Credit card companies also offer similar insurances, with some added advantages. In case of theft or loss of your credit card, they will supply you with an emergency one, often within a few hours.

In addition to offers, there is another advantage in checking your credit card company’s terms. If you book your travel using your credit card, pretty much all card companies give excellent cover against many of the things that can go wrong.

Some credit card companies also have specialist travel departments which not only give you travel discounts but also give you even better protection, i.e. better and at a much lower cost. But note that all insurance offers exclude you making a claims, for the same item, to multiple sources even if you do have multiple insurance cover.

For example, let’s say you have bought separately and you have bought your travel ticket using your credit card. If your luggage is lost, you can almost certainly make a claim to either of the two sources but not to both at the same time.

The reason is that the insurance companies have suffered massive fraud in recent years. Allowing multiple claims simply encourages fraudsters to have multiple insurances and make multiple false claims.

For example, they can take an already damaged suitcase on a long journey knowing that it will fall apart. They can then claim damage and loss of property from multiple insurers.

3. Insurance companies are a popular and obvious source for annual . If you drive a car or have home insurance get a quote from your insurance company. Remember, because you are already a customer, your car insurance often entitles you to a very good discount.

Here’s a tip: if they don’t give you a competitive insurance, tell them that you will be looking else where for a good package. Let them know you will be looking for a package that includes great home insurance, excellent and also good car insurance.

Listen, fear of loss WILL make them bend over backwards for you and if they don’t? Here’s another tip: When you talk to any other source to get your competitive , make sure you mention your other assets that you could be insuring with them, such as your car, home, home contents, etc.

This won’t work with travel companies but works absolutely beautifully with most insurance companies. I have done it many times and saved myself thousands of dollars, yes thousands, over the last few years.

The insurance industry is massively competitive. For once, this works in favor of the “little guy” (you and me), so let’s use it.

4. Certain types of home insurance may also give annual travel cover. Do look into pretty much any insurance cover you have. Some home insurance policies include some forms of travel cover including loss or damage to your property while away from home.

Tip: even if you live with your parents, ask them to check their policy for you. You will be amazed to see that even “your” property is covered while away from home.

Just one word of caution: do not assume what is covered or the level cover. If you are not sure just ask the insurer. If the cover they describe seems even better than what you expected based on the policy document, then do ask them to put their clarification in writing.

Why? When any major loss occurs, the insurer will send a local expert to assess the damage. These guys are called loss adjustors. Their job is to save money for the insurance company. And I tell you from bitter personal experience, they take no prisoners.

They will screw you down to the ground, if you don’t get things in clear black and white writing. Just do it. It takes minutes to request clarification in writing but can save you thousands of dollars when you have one of these mean loss adjustors arguing with you over the policy.

5. You can also buy last minute from travel agents and airlines at the airport. Expect to be taken advantage of, heavily! Needless to say, this is one of your most expensive options. Just avoid ending up with this option, see to your insurance long before you need to travel.

Now here’s the thing. policies are not all identical. As well as considering price, you absolutely must read the terms and conditions carefully. For example, the upper age limit of some insurance companies may vary.

Some companies may limit the number of annual trips, whilst others may have no limit at all. Look, most policies cover a range of events and claims. But as they say, the devil is in the detail.

The problem you will definitely face with some really cheap policies from unknown and possibly disreputable companies is what they put in the fine print. You know what I’m talking about? … all those tiny little statements they put on the back of the form? Or if you are buying insurance online (and you should), notice all those pages of really small text they ask you to agree to?

Well, that’s where they bury lots of little conditions and limitations. Most people don’t read all the terms. Do yourself a huge favor and on this occasion, do read it all. If the insurance policy terms are full of “weasel words” or complex language, just move on and do not buy.

All insurance companies are quick to point out how many millions you can claim in “total”, in case of a serious accident. But they all limit the amount per item within your claim. So claims for loss of cash will be capped and so will claims for electronic devices, clothes, etc.

This means that with the cheaper policies you will have a really low limit. For example, if you claim for a mobile phone and an MP3 player, you may find that the limit on personal electronics is not enough to even pay for “one” of those devices, let alone both. Don’t wait for an unfortunate event to show you the flaws in a dirt cheap policy. That is the worst time to find out and it is a time when you need the most help.

What must all policies cover?

1. Loss or damage to property and cash

2. Flight delays or cancellation

3. Accidents

4. Sickness

5. Your expenses when an event ocurs

6. Your potential liability to other people

7. Legal services

In comparison to your total costs, annual is only a very small item. If you are covered for any eventuality, you’ll have less to worry about, which will translate to more relaxation and enjoyment.

Travel Information So Important You Can’t Leave Home Without It

When you travel you not only step out of your comfort zone, but you also leave behind all of the important information about your life. You know, the stuff you’d need in case there were some kind of emergency–insurance numbers, the number to call if you lose your credit card, prescription information, etc.

We have all of this information available to us when we are home, but what would you do if your house sitter contacted you when you were halfway around the world to tell you that your house had caught fire? Could you contact your homeowner’s insurance agent and provide all the information he’d need no matter where you are?

This checklist is designed to help you to compile all the information you should need while away from home so that you can carry it in a portable file. I hope it provides you some peace of mind.

The list includes the items you need and, in parentheses, an explanation about why it is important.

Documents to Place in Your Important Papers File & Why You May Need Them

Make a list with the following information on it:

  • Homeowner’s or Renter’s Policy Number & Agent Contact Number (in case there is an emergency at your home so that you can notify your insurance company as soon as possible)
  • The name, address, contact information, and reservation confirmation numbers for your hotel, rental car and airline tickets (in case you need to contact any of them for any reason or you need the confirmation numbers for any reason)
  • The numbers of and contact information for any credit or debit cards you may use on your trip (in case they are lost or stolen)
  • A copy of your Driver’s License (and International Driver’s License, if necessary-in case either of these documents are lost or stolen)
  • Your frequent flyer number, your frequent guest number for hotel chains, and any other travel membership clubs’ numbers (in case you need them to claim rewards or discounts)
  • The numbers of your traveler’s checks (in case the originals are lost or stolen)
  • Names and contact information for friends and relatives you plan to visit while on your trip (so that it will be easier to contact them and also, in case of emergency, for someone else to be able to contact someone nearby)
  • Medical insurance provider name, contact information and policy number (in case your card is lost or stolen)
  • Name and contact information for your cell phone service provider & the serial number of the phone, your account number, and the SIM card number (in case your phone is lost or stolen or there is a problem with your phone and you are not able to get service)
  • If you will be using a laptop or cell phone with wireless internet access, the name and contact information for your internet service provider, and the serial number of your laptop and any other accessories (in case your computer is lost or stolen and also in case you need assistance with your internet coverage)
  • A copy of your itinerary (Each adult or older child should have a copy of this document in case you get separated from the others in your party. You should also leave a copy of your itinerary with someone at home in case you are lost or missing they can better work with the authorities to help them find you.)
  • Information concerning any medical conditions you may have including allergy information (Include information like blood type, height, weight, birth date, etc. for each member of your party.)
  • Names & contact information for your house sitter, pet sitter, etc. (in case of an emergency)

It could be disastrous if a list like this fell into the wrong hands, so for this reason, use some kind of code as you compile these account numbers.

One suggestion is to write the account numbers in a different sequence. For example, if your account number is 6389 7492 8852 4301 you could write it like this 2588 9836 1043 2947 or if it is 5529731 you could write it as 2551379.

Whatever code you use be sure to memorize it and make sure that anyone else in your traveling party knows how to use it also.

The secret is to have the information available to any one who may need it, but extremely difficult to use for any one who may try to steal it.

Another code to use is to leave the names and contact information in the right order or to further protect yourself and any one else whose contact information you may be carrying, mix up the order of the names and numbers. For example, you could put the info for the first item on the list in the second position, the info for the second item on the list in the third position, and the info for the third item on the list in the first position.

Then create a fake category, something like “Luggage Insurance Carrier” then list the account number as 122331 with the order of the numbers being the “pairs” of how you switched the information: 1,2=first in second position, 2,3=second in third position, 3,1=third in first position.

It may seem a little confusing and like it would be a lot of work to make your list in this way, but remember that the secret it to make the information hard to steal while still having it available just in case you need it.

These items are not sensitive information, but they would be valuable if you needed them:

Keep several various sized envelopes available to store these items safely.

  • The name and contact information of your travel agent (if you used one)
  • Any coupons or discount codes you plan to use
  • The contact information for the Chamber of Commerce and Tourism Board for the areas you will be visiting
  • Contact information for the embassy where you will be visiting
  • A copy of your packing list with space to add any purchases you make while on your trip
  • Emergency phone numbers for the areas where you will be traveling including poison control
  • A phrase book for any foreign languages you may encounter
  • Directions to any places or events you plan to visit
  • A tipping chart
  • A foreign currency exchange rate chart
  • If traveling with pets, name & contact information for their veterinarian and also their immunizations history
  • Names and addresses for anyone you plan to send a post card to
  • A journal to keep track of your expenditures and also to keep a record of what you do each day
  • A recent map of the city and surrounding areas where you are visiting
  • Copies of any contracts you signed for vacation packages, travel insurances, etc.
  • Copies of any prescriptions for medications, eye glasses or contact lenses (for each person in your party, if necessary)
  • If traveling with children and only one parent, a notarized letter of consent from the other parent (a separate letter for each child, if necessary; this is good to have even for domestic travel)
  • Immunization records (for each person in your party, if necessary; this is good to have even for domestic travel)
  • The receipts for any merchandise you purchase while on your trip (in case you need to return them for any reason; also, if you are returning from a foreign country you will need these when you pass through customs)
  • A list of all electronic equipment, including serial numbers, that you are traveling with and copies of receipts for them, if possible (in case they are lost or stolen you will have this information available for the authorities; also, if you are passing through customs you will be able to prove prior ownership and avoid paying duty fees on these items)
  • The name and contact information for the hotel(s) where you will be staying (Each person in your party should carry a business card with this information on it in case they are lost or need to give directions to a cab driver.)
  • A copy of your auto insurance information (in case you are involved in an automobile accident)
  • Your luggage claim tickets (to enable you to claim your luggage)
  • The number/aisle of the parking spot where you leave your vehicle in long-term parking at the airport (in case you can’t remember where to find it when you return)
  • Insurance claims forms (for all traveler’s insurance that you purchased; these insurances often have a short claim period so you may need to file the claim before you return home)
  • Birth Certificates (in case you need to prove identity or prove that a child is yours)
  • Extra passport photos (this will save you a lot of time, trouble and expense if your passport is lost or stolen)

Items to carry on your person (You will need these actual documents):

  • Your passport, visa, or any other necessary documents (adults should carry these for the children)
  • Any travel visas or entry documents you need for the areas where you will be traveling (for each person in your party, if necessary)
  • Medical insurance card & any other insurance cards
  • A card with information on any medical conditions and the names and contact information of any other adults in your party or that you may be visiting

Special note about children:

  • Children should carry an identification card stating their full name, your name and the names of any other adults in your party, the phone numbers and addresses where you can be reached, and emergency contact numbers back home.
  • This card should also include any other important information such as medical conditions, insurance information, and health care provider’s name and contact information.
  • Place the ID card inside the child’s shirt in a pocket that you have sewn in beforehand.
  • This will require a little bit of work and preparation, but if it is ever needed it will be worth it.
  • Your child probably already knows about “stranger danger,” but right before a trip is a good time to review this information and to teach them not to show this card to anyone unless they are lost.

Gather all these lists and documents and put then in an accordion style file folder with an elastic band to hold it shut. If you leave your hotel room, place this folder in your room safe and make sure that every one who would need this information knows the combination and knows how to operate the safe.

Hopefully you will never need any of this information for an emergency, but this Important Papers File will be there if you do.

Is Necessary When Travelling Abroad?

provides an easy way to insure against trip cancellations, trip interruptions, emergency evacuation, accidental death and loss or damage to baggage or personal effects. Millions of dollars are wasted each year by travelers who purchase unnecessary or travel assistance policies. Taking care in purchasing any or travel assistance policies is a prerequisite although these products may be valuable to some travelers only in limited circumstances.

Buy only the insurance you need. Frequently, several types of insurance are bundled together and sold as comprehensive . Make sure you purchase what you need only after reviewing this chapter and doing comparison shopping among several policies

Decide on the type of after analyzing the type of coverage you already possess. Specific consideration of following facts is required. While you are traveling, provision of liability and personal property protection can be provided by home owner’s or rental’s insurance policy.

Do check the specific limitations and exclusions of the policy even if there is a probability of your health insurance providing you with some coverage. Your automobile insurance policy can also provide cover for a car on rent which is being used by you. In some cases your credit card can offer some protection when you rent a car or if you want to cancel or change your flight.

You can opt for excess or secondary coverage through many policies. If any other coverage can be applied to the loss first, such as homeowner’s insurance in case of theft of your personal property, then it means that the will provide coverage only for amounts which are not paid by the primary insurance like deductibles. Few of the policies offer primary coverage, which is most useful when your own coverage is insufficient or has a very high deductible. Premium for excess coverage is generally low as compared to premium for primary coverage.

A major problem with is that most policies contain a number of exclusions and travelers often don’t learn about the exclusions until they try to use the coverage. At the time of reviewing a policy you should check the exclusions and definitions carefully to determine how much protection your policy is really offering. Since there are losses which are not covered by any other insurance which you may already have, therefore trip cancellation and trip interruption insurance are probably considered the most important types of .

In terms of protection, trip cancellation and trip interruption insurance are different although you cannot deny the fact that they are closely related. Now you can be insured and be sure of getting your money back in case you plan to cancel your trip, by opting for the trip cancellation insurance before you travel. Trip interruption insurance helps you by providing cover during your trip and reimbursing certain expenses if you cut short or change your trip. Since the exact terms of the policy may vary but the answer to validity of trip cancellation insurance for reimbursing you for nonrefundable and prepaid trip expenses lies in following three things. Your travel companion or you may have to give immediate attention to a situation or if you are in a spot which forces you to abandon your trip though arrangements have been booked. Trip cancellation insurance is applicable before your departure.

After you purchase your trip cancellation insurance, you should make sure that you are covered by the insurance policy when you move from your home to your departure point. In the same manner, trip cancellation policies expire when there is possibility of occurrence of last time crisis. If you purchase cancellation insurance, make sure you are covered during the entire period of time before your departure.