There are many types of travel insurance plans in the market and the packages vary according to the different Insurance providers. Where premiums are concerned, generally, the more comprehensive the package, the higher you have to pay for the premium. However, it has been observed that this may not necessary be the case so it is advisable to scout around for the most appropriate type of travel insurance plan that can offer you the best value for your money.
Do take some time and check around for comparisons. One of the easiest ways is to check online where you can compare all the various types of travel insurance plans as well as the exclusions of the policies without leaving the comfort of your home. You can also take your time to go through all the fine prints. Most of the travel insurance packages are specially designed to cater to the individual needs. For example, you will be strongly advised to get protection for extreme sports coverage if your trip involves hazardous activities such as mountaineering, bungee jumping, scuba diving, skiing, paragliding, etc.
However, you will need to find out the extent of coverage for your extreme sports insurance. Most probably, you may be covered for only certain sports like skiing. Therefore, you are required to pay extra premiums for any add-ons activities. Do bear in mind that the risks involved in such dangerous sports are higher which means the medical bills will also be very costly. So it is important to ensure that you are properly and sufficiently covered before you attempt any of the above mentioned sports activities.
Other types of coverage will include delayed or lost luggage, theft, flight cancellation, delayed flight, medical treatment, accidents, hospitalization, etc. If you are just planning for a single trip, then you can opt for a single trip policy but if you have the intention of traveling throughout the year, then it is more cost-effective to purchase an annual travel insurance policy. Likewise, instead of individual coverage for each member of a family, it is cheaper to get family travel insurance. The same applies for people who are traveling in a group. And in the event that the travel insurance plan which you are looking at does not cover certain areas of your requirements, you can always request for add-ons or customized your package.