Wednesday, 26 December 2012

8 Tips to Save on Travel Insurance

By Alexey Saltykov

There is one aspect that you have always to remember before starting your trip: Travel Insurance. Any health or accident issue abroad can lead to exorbitant costs.
One night in a hospital in USA can easily result in over $10,000. There are many cases where people were treated abroad and afterwards got six-digits medical bills. Obviously such issues as a stolen laptop or video camera can be quite costly as well.
We created a long list of travel insurance tips to help you to save on travel insurance! So, let's start!
1. Travel medical on your credit card: Check your credit cards - one or two may already have Travel Medical Protection, both for you and sometimes for your family members too.
2. Various credit card perks: Not sure if you need to buy a Flight Delay, Trip Interruption/Cancellation and Baggage Loss - check out your credit cards, sometimes you will be surprised what you will find.
3. Liability via Home Insurance: Thinking to buy an extra Umbrella / Liability insurance for your trip e.g. in case you hit somebody when skiing? Your Home Insurance might already have a worldwide umbrella protection - check the policy or ask your broker / insurance provider.
4. Protection for belongings: Wondering if you need to pay extra to protect some of your belongings while on a trip (e.g. expensive camera) - your home insurance might protect them as well while you are travelling and have them with you.
5. Multi-trip travel insurance: If you travel several times a year, it often makes sense to take a multi-trip insurance policy as opposed to getting every time single-trip policy.
6. Family travel insurance: If you travel as a family, it sometimes makes sense to buy a family travel insurance policy rather than buying a separate plan for each member of the family.
7. Shop around: Search, Compare, and switch insurance companies. There are many insurance providers and their price offerings for the same policies can be very different, therefore use multiple online tools and talk to several brokers since each will cover a limited number of insurance companies.
8. Burglary insurance:Some credit cards offer this kind of protection if some of your personal belongings disappear from your hotel or motel. Don't forget to pay for your trip and hotel stay with a credit card that offers this protection. Attention: your protection may extend to USA but not necessary to other countries e.g. Mexico.
Alex Saltykov is a Co-Founder of InsurEye Inc, a Canadian company that provides online tools for consumers to educate them about insurance, create transparency in insurance market place in Canada and connect consumer with insurance brokers in Hamilton, insurance brokers in Edmonton and all across Canada.
Alex spent years advising insurance clients both in North America and Europe while he was working for one of the leading management consulting companies. His areas of expertise are insurance, interactive consumer services, innovation, IT and operations.
Article Source: http://EzineArticles.com/?expert=Alexey_Saltykov
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