How to buy the best travel insurance. Here’s what expert says:
Make sure you’re not already insured
“One potential mistake people can make when purchasing a travel insurance policy is that you could potentially end up buying a policy that has some duplication of benefits with what you already have,” says Joel Ohman, founder of InsuranceProviders.com, an insurance site. He advises you to review the benefits you already have with any of your other current insurance policies, credit cards, and membership programs. Actually, any legitimate agent will tell you to check your other policies before buying another one. Otherwise, you could buy too much insurance.
Look for a guarantee
That’s Jeewanjee’s advice. For example, G1G offers a service guarantee that promises its policies will meet a high standard. Its quality assurance process includes an analysis of a company’s BBB report, customer reviews, claims payout ratio, reinsurers credit history, and other benchmarks. “We help our customers throughout the whole process of purchasing a travel insurance plan from start to finish, and what we do makes the process easy,” he says.
Make sure it’s real insurance
It isn’t always, says Shylar Bredewold, CEO of Odyssean Travel, an online travel agency. “I’ve seen some very decent cruise protection plans,” he says. “But these should not be confused with insurance and often come with disclaimers stating that they are indeed distinct from a coverage policy.” Bredewold says the difference between “protection” and “insurance” has been a hot topic in the insurance industry lately. (Technically, “protection” isn’t an insurance product.) “Travel professionals continue to be vigilant in what they recommend to clients, even when we trust the supplier,” he adds.
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