Answering this question can be effortless, transparent, and objective in the following ways: You should take out international travel insurance because unforeseen events and accidents happen to anyone. Or else you should buy travel insurance because it can save your life and financial life.
But not to leave the answer superficial, I will talk more specifically about which situations are helpful. Thinking about these things before traveling can be a little daunting, but this is a necessary asset. Flights are delayed and canceled, and luggage is lost; the local cuisine may not go down very well, spraining your foot. At the same time, hiking is not uncommon, and wisdom teeth always manifest themselves at inconvenient times (like on vacation).
These things can happen to a first-time traveler or someone who has traveled the world. But regardless, the fact is that good travel insurance can help you in all these situations. In addition to unpleasant surprises, it is mandatory to present proof of your insurance at the time of immigration in many countries.
It is the case of countries that signed the Treaty of Schengen in Europe, Cuba, students who will exchange in Australia (there is a specific one for this), and others.
How does Travel Insurance Work?
There is no same rule that works for all travel insurance on the market; it depends on the plan and the insurance company you hire. Many procedures are similar or even the same between different companies. However, the vast majority have some characteristics in common.
This purchase plan will cover various types of expenses and services that you may need during your trip. Depending on your destination, you will take out insurance for your trip (including the day of departure and return). They work like this.
After the contract is complete, the insurance company will send you all the necessary information on continuing in the event of an emergency. A copy of your contract/policy describes all the items covered by your plan. I recommend that you take all these documents in print while traveling. In addition to making it easier when looking for information, it is necessary to present them at immigration in some countries.
- There is also no general rule in this item. Every plan has its advantages and restrictions.
- No perfect travel insurance works for everyone and all types of travel.
- Okay, there probably is. But it must cost much more than most of us are willing to pay.
- I mean that there is an insurance plan best suited for each type of trip.
For example, suppose you travel for work, and your biggest adventure will be inside a meeting room. In that case, you do not need to take out international travel insurance with coverage for accidents while practicing extreme sports.
This analysis and common sense are essential when choosing your insurance. Whether to know what your plan covers or to save money.
Below are some items that I consider essential to analyze when purchasing travel insurance:
- 24 hours?
- Total policy amount
- Maximum amounts for medical and dental care
- Are all the countries I will visit covered?
- Lost luggage
- Will I practice extreme sports or high-risk activities during the trip? Does the plan cover it?
- Repatriation in case of disability or death
- Cancellation, interruption, and early return of the trip
Which Insurance Company to Hire?
Do a Google search for the words travel insurance, and you may be confused by the number of options it will show you.
Yes. There are many insurers and plans available to you. There are so many that it is difficult to choose for those who have never used any.
Fortunately, I never really needed to use travel insurance, but I always ended up hiring one of the companies I will mention below.
The Price of service at the time of hiring, ease of renewal, comprehensive coverage, and good service (this item comes from the experiences of other bloggers I trust and who have already used the services of these insurers).
- Assist Card
The insurance I took out during my 10-month trip to Latin America, I had an excellent discount for being part of AIESEC, and it was the best cost-benefit I found at the time.
- Promo Insurance
The Insurance Promo is not an insurance company. It acts as a platform that offers and sells travel insurance from several companies. In addition, it acts as an intermediary between you and the insurer in loss cases.
Seguros Promo has a tool available to anyone to compare values, plans, and benefit costs among the best insurers in the country (including Assist Card). It is the company that I have used the most. It always presents me with the best business proposal.About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.