Travel Insurance Blog
Information on Travel Insurance and Travel Insurance News
Well the simple answer is if you have a claim, you will want as much as possible. If you are traveling overseas, the last thing you wan to hear from your travel insurance company is that you only purchased a policy with a $50,000 overall maximum and your medical bills are already at $75,000. You could have purchased a $500,000 policy for only $20 more. It is unlikely that emergency medical expenses will exceed $500,000, but it does happen, so why take the chance. Most insurance agents recommend a
travel insurance policy with at least a $1 Million overall maximum covering travel medical and evacuation expenses.
Many people only get travel insurance because they need it for visa requirements from some foreign countries, especially inEurope. But why not get a bit extra because you just might need it and the last thing you want to hear when in the hospital is that you have met your maximum allowable coverage amount. If you are traveling in the
United States, getting a large policy maximum is even more critical as everyone knows the cost of medical services there is much more expensive than anywhere else in the world. Still, more and more facilities around the world are charging as much as
America hospitals. Think of this when you get your travel insurance at
TFG Global Travel Insurance.com and get the largest possible policy maximum.
Many people think that
travel insurance companies are not justified in increasing costs for people with certain medical conditions and also those over the age of 65. Some say that this is discriminatory.But those who sell insurance know that insurance is only fair if the insurer charges the people at higher risk a higher premium and those at lower risk a lower premium. Fact is that if you are older, you are more likely to have health issues – so insurers have to build this into their premiums. Otherwise the insurer will have to charge younger and healthier travelers more and that would not be fair.
On the bright side, travel insurance is a very low cost product with lots of competition amoungst travel insurance companies and brokers. But note that you should not be looking for the cheapest rate because that may mean a low level of coverage and denied claims. If you have a pre-existing medical condition, you should ask your travel insurance broker if they have a plan which can underwrite and cover it. Some travel insurance providers offer this. Note that the insurer may not be able to cover you even if your doctor says that you can travel without any medical problems. Bottom line is the doctor doesn’t have to pay the claim if you fall sick, the insurer does.
TFG Global Travel Insurance offers a variety of travel insurance policies from a variety of travel insurers. Contact them if you need a plan which covers your pre-existing medical condition(s) as plans purchased online don’t ask medical questions and thus don’t cover pre-existing medical conditions. You will need to provide as much information about the pre-existing medical condition as possible, treatments, dates etc… along with medical forms to be completed by your doctor.
TFG Global Travel Insurance has plans that can cover older travelers up to age 99.
The March 29th issue of the Statistics Canada Daily report indicated that the Canadian tourism industry registered its third consecutive year of solid growth in 2006, with spending reaching$66.9 billion. A large part of this tourism spending was attributed to Canadians, rising at its fastest pace in a decade, whereas spending by foreign visitors fell for the second year in a row. With the increasing cost of gas and the new passport requirements for air travel into the United States, this trend may carry forward into the summer months in 2007. Canadians are continuing to travel, but their choice of destinations is changing. As you may know, travel over provincial borders may place Canadians at greater risk of being burdened with unexpected out of pocket health-care expenses.
TFG Global Travel insurance.com has a variety of Canadian travel insurance policies, including Annual and Single Trip policies specifically tailored for travel within and outside Canada.
Defaqto is reporting that some policies charge too little to be able to pay out. Consumers buying travel insurance have been warned not to base their decision just on the cost of the policy in a report published this week by Defaqto, the leading financial research company. The report ‘Travel Insurance in theUK – Cheaper is rarely better’, reveals that some policies are now “too cheap” to be able to offer adequate cover.
Analysis of Defaqto’s Aequos database of 986 travel insurance policies found that there are 30 separate single trip policies that charge £10 or less for a week’s travel toEurope, with one quoting £5.49 per person. It urges consumers buying cheap policies to consider whether their insurer would be able to pay any claim made. Consumers should be purchasing
quality travel insurance from a reputable source.
Defaqto believes the UK Government and the insurance industry need to do more to educate consumers about the risks of travelling overseas without adequate cover. It estimates that around 10 million overseas visits are uninsured each year for a number of reasons including ignorance, unwillingness, or because travellers are ‘uninsurable’ due to their medical history.
The familiarity of increased foreign travel is breeding contempt among many travellers who believe that travel insurance is unnecessary. It is believed that many travelers are under the wrong impression that a European Health Insurance Certificate (EHIC) removes the need for travel insurance, says Defaqto. This is probably the same situation in Canada and the United States where travelers may think their government or domestic health plans will cover their emergency medical insurance and evacuation needs.
The report author and Defaqto’s Head of Insight,Brian Brown said: “Consumers are being let down by the insurance industry which has made travel insurance policies jargon heavy to the point that the only thing they can easily compare is price. This compounded with increased competition means that too many people are now travelling abroad with inadequate cover. With the continued growth of overseas travel to increasingly exotic places, more people are likely to end up on the wrong side of an insurance claim.
“The insurance industry and the Government must to do more to ensure that all consumers are aware that when it comes to travel insurance, cheapest is not always best. Two key areas of particular concern are that consumers do not understand how baggage cover works and we believe that there needs to be more clarity with regards to insurers requiring original receipts for even minor claims”
For quality travel insurance plans to meet almost any budget, consumers should check out
TFG Global Travel Insurance at
www.globaltravelinsurance.com
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