How to Find the Best Travel Insurance

Because you're reading this, chances are that you understand the need to apply for travel insurance, but aren't sure which one you should get. There are many different varieties of travel insurance policies out there, so we understand that it can be quite difficult to choose the best one for you. Don't worry though since we will share with you a few essential tips on finding the right insurance for you, so if you're ready then read on.

Here's what you need to know:

  1. The cheapest insurance isn't always the best type of insurance. Some insurance companies will offer the lowest premiums to attract would-be buyers. But before you get tempted to pick the cheapest one available, check the details first. It's possible that they could afford to go cheap because they'll charge you hefty sums on the excess, which is the amount you need to pay to claim back on your insurance. This ranges from $50-250, so watch out.
    The most expensive cover isn't always the best type either. More than the price, always make sure that the coverage you're getting is commensurate with the premium you're paying.
  2. Check the details of the policy. Also make sure that you check the fine print of the policy. As always, you don't want to be left hanging by your insurance policy when you need it the most.
  3. Look into your medical coverage. This is another important detail you should look into when choosing a travel insurance policy. Make sure you know how much cover you'll get and that the coverage is enough for your destination of choice. Why? That's because countries such as the United States, Japan and many European countries have expensive medical care that you could put your finances at risk should you need to seek medical help in those countries.
  4. Don't pick the first policy you see. There are plenty of options out there for you. And while it might be tedious to go through every one of them, always make sure that you at least compare several of them. This would help ensure that you're getting the best one in terms of the price of the premium and the level of coverage.

Here at Rate Detective, our consultants are ready to help you find the right travel insurance policy for you. They will assess your needs and provide you with rate comparisons of Australia's top insurers, so you can be sure that you get a deal that's tailor-fit for you. Contact us today for more details!

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Published on May 5-th, 2013 in Travel Insurance
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.

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Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

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