7 Tips For Finding The Best Travel Insurance Policy For You

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We all know that it is important to take out travel insurance when travelling abroad to protect yourself, your personal belonging and your finances, should you need to make a claim.

Not taking out the right travel insurance can end up being very costly.

So how do you know you are getting the best policy possible?

Take a read of our tips below on finding the best insurance company and policy for you for your next adventure abroad.

A cheap policy is often cheap for a reason. It is unlikely that it will cover you for all the things you need, or the maximum payouts will be lower than others on offer.

You must look further than the policy’s premium. We are not telling you to simply pick a more expensive policy, but take a good look at the premiums, excesses and the other things that we mention in this article.

If you want to bring your policy costs down, you can look at increasing the excess (the amount you pay towards your claim), if you can afford it. More on that later…

There are two different types of travel insurance policies that you can take out; single trip cover and annual multi-trip travel insurance.

Single trip travel insurance covers you for one journey abroad. This type of cover is great for anyone who is planning just one trip abroad in a 12-month period.

Annual multi-trip travel insurance covers you for multiple journeys abroad within a 12-month period. The premium for this type of cover is usually higher than single trip insurance, however, if you are planning multiple journeys abroad, the cost per trip will be significantly lower than taking out a single trip insurance each time.

Please note that you will need to make sure that your policy covers all the locations you are planning on travelling within that 12 months.

  • We mentioned earlier than you can often increase the excess on items in your policy to bring the overall premium down but be very careful with this.
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  • Firstly, you need to make sure that you can actually afford to pay this excess should you need to make a claim. Some policies will require you to pay the excess required per item. So for instance, if you need to claim for lost luggage and a hospital stay, you would need to be the excess for each, potentially making the total you need to cough up quite high.
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  • Secondly, take a look at if your excess is higher than the claim available itself. Do you need to replace a S$500 iPad but your excess is S$600? You are going to come away with nothing.

Did you presume that the USA is covered within a worldwide policy? Don’t be so sure about that.

Some policies exclude the USA, making it an add-on. Equally, Egypt, Morocco and Turkey are often included as Europe, but not always. Sometimes, Spain isn’t included as part of Europe either!

Take a good read of the countries covered when taking your policy out, just to make sure!

It is important to take out travel insurance with a reputable company that has a large, worldwide network. These networks make it easier to not only get emergency treatment or evacuation, it can help with getting better treatment, as well as speed up claim payments thanks to the existing business relationships in place.

At Allianz Travel Singapore, we have a network of over 13,000 associates worldwide, meaning that you are looked after no matter where you are!

Does the travel insurance company you are looking at purchasing from only work during office hours? Where are they located? Are you in different time zones? This could cause some serious problems if you need to contact them in an emergency.

We at Allianz Travel have a 24 hour per day, 7 days per week emergency assistance service. You will be able to reach someone in any time zone, any time of the day or night, anywhere in the world. Pretty good that isn’t it?

To find out more about Allianz Travel Singapore’s worldwide network, please visit here.

Some home, bank and credit cards include insurance cover for personal possessions when you are away from home. Check these details carefully as if this is the case, you may be able to remove baggage cover from your policy, making it cheaper overall.

We at Allianz Travel Singapore know exactly what you need to stay safe abroad and offer packages and prices to perfectly suit your needs.

If you would like to get a travel insurance quote, please visit this page here.

Do you already have a trip coming up? Did you know that when you take out a travel insurance policy, you are covered for a number of items before you travel, like cancellation? Read more on our blog here.