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The best travel insurance isn’t necessarily the cheapest, nor the most expensive. At TID we try to offer excellent value at a price everyone can afford. Here are a few tips when comparing family travel insurance.
Excesses are the part of your claim that the insurer does not pay, and can range from $0 to over $500. Generally, the higher the excess you choose, the lower the premium and vice versa. If the value of your claim is less than the excess, the company will not reimburse you.
Also it’s crucial to note not just what is included in your cover, but what isn’t. Compare the exclusions of your policy – things like injuries sustained in terrorist attacks, civil unrest or natural disasters, for example.
Similarly, emergency medical assistance is a key component. You don’t want to be left stranded when in trouble overseas. A number of insurance providers outsource their emergency assistance, meaning customers are forced to deal with a third party, which can be an added hassle.
Finally, check trip cancellation policies. You work hard for your family holidays and invest a lot of money in them. The last thing you want is to have to cancel your plans. Even worse would be to lose large sums of money on lost bookings or flights. There are multiple reasons you may need to cancel a trip, so for any travel insurance policies, compare the cancellation terms carefully. The overall cost of your family travel insurance, whether cheap or expensive, does not always guarantee quality.
Read the Policy Wording. Take you're time. It's worth it.