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10 tips for getting the cheapest travel insurance

Definition of travel insurance

What is travel insurance?

Travel insurance is a document that you buy that protects you from some of the financial risks and losses that can occur while traveling. These losses can be simple, such as a delay in the travel bag, or the losses are large, such as canceling the trip at the last minute or getting sick abroad and having to pay for emergency medical expenses.

1. Never buy from brokers.

Do not buy a travel insurance policy from a travel agent, tour operators, or airlines as this will definitely cost you more than buying the insurance policy directly from the insurance company.
FYI, the cheapest travel insurance policy you will get is when you buy the insurance policy online and directly from the insurance company.

2. Tolerance ratio

The deductible ratio has a great impact on the price of the insurance policy, and first we must highlight the definition of the deductible ratio: -

The insured: is the person looking for insurance.
Insured: the insurance company

 The deductible percentage is the percentage that the client receives from the compensation when the risk occurs. The deductible percentage is used mainly in automobile insurance, medical insurance and, sometimes, fire insurance, and if the value of the damages is less than the deductible percentage, the value of the damages bears the insured. It has only the deductible value, and what is more it is borne by the insurer, which is the insurance company, and it is known that the higher the percentage of the deductible, the lower the value of the insurance (the price of the insurance policy). insurance) and the lower the deductible percentage or is zero, the higher the value of the insurance (the price of the insurance policy).
For more information on the deductible ratio, I recommend that you review this separate article titled Strength ratio in health insurance and complete with examples

What is the benefit of getting a cheap travel insurance policy, but when danger occurs (injury in an accident) and the cost of treatment is $ 600, the insurer (the insurance company) asks you to pay an amount $ 150 as a percentage of burden, and the insurer (the insurance company) pays $ 450?

Please note that if you were exposed to a theft accident while traveling and this accident caused your injury, you will pay a percentage of the baggage theft, for example $ 75, and bear your share of the cost of treatment, as we explained above.

You should know before buying the travel document what is the deductible percentage in each claim of the document, for example what is the deductible percentage in the case of urgent medical expenses and in case of loss or delay of travel bags, in case of loss of the personal passport for a reason other than negligence and in the case of any other claim explained in the document. .

And again, the higher the percentage of the deductible, the lower the value of the insurance (the price of the insurance policy) and the lower the percentage of the deductible or was zero, the higher the value of the insurance (the price of the policy for sure).

3. Check what your home or bank insurance policy actually covers

Often times, a home theft and fire insurance policy includes personal property insurance when you are away from home, so you can disenroll from home insurance coverage while traveling on a travel insurance policy and so on. save money.
You can also have a credit card or checking account that includes a free travel insurance policy from the bank, but first you need to make sure the coverage is enough to meet your needs; This "free" insurance can sometimes be essential.

4. Buy a package from an insurance company: negotiation

When you buy travel insurance from the same insurance company that you bought your home and car insurance from, some companies offer a discount on the price of the travel insurance policy because of their loyalty to the company.

But you should know that you will not get this discount without a doubt, and you should also consult the insurance company about the prices of the cheapest competitors to get the best price from them.

5. Choose annual coverage if you travel more than three times a year

If you travel three or more times a year (or two or more times if you travel to the United States), obtaining annual travel insurance that covers a full year trip is likely to be cheaper than purchasing a travel insurance policy for each trip separately. But keep in mind that annual insurance policies will not cover long trips as they generally cover trips with a maximum of 31 days per trip.

6. Egypt is in Europe, but the United States is not in the world

You do not need to purchase a global travel insurance policy for many North African countries, as Egypt, Morocco, Algeria and Turkey are within Europe on most company-issued Schengen (European Union) travel insurance documents insurance. But be careful, some global travel insurance policies exclude the United States and Canada from the global travel insurance policy and issue them a special global document.

7. Look for age limits and medical exceptions

Many travel insurance policies, especially the less expensive ones, do not guarantee anyone over the age of 65, no matter how fit and active they are. Most pre-prepared travel insurance policies will not cover any illness you suffered before purchasing the policy. So, for example, if you have asthma and suffer an asthma attack while traveling to a country and your condition requires medical treatment, your insurance policy will not cover your treatment expenses. Inform your insurance company of any permanent illnesses you have and answer the questions honestly. Some insurance companies may agree to cover some illnesses in exchange for a small additional premium, or if your health condition requires insurance against your current illness before you travel, then go to a specialized insurance company.

8. Even horseback riding is an adventure and a dangerous activity

Many insurance policies exclude "risky activities" that can include horseback riding, diving, waterskiing, or mountaineering. If you travel to a country and want to ski, for example, make sure your insurance policy includes comprehensive coverage for winter sports.

9. Independent travelers should choose to cover flight delays and cancel them

If you tend to make your own flight and accommodation arrangements on your own instead of booking through a travel agent or tour operator, it is important that your insurance includes coverage for flight delays and cancellations, note that even the documents Five stars may not cover airline failures.

10. Group insurance

Insurance for a group of people going to the same place and doing the same activities is cheaper than insurance if they all go separately and get their own travel insurance alone.
And you should know that some insurance companies offer families free coverage of two children during the trip.