10:47 13 January 2013
The safety and security of the family is the most important thing to keep in mind when travelling. That is why, when you and your family decide to go on a holiday especially to another country, it is crucial that you take out family travel insurance. This will protect you from any event that could not only ruin your holidaybut can also deeply hurt you financially.
Here are some tips for buying family travel insurance:
Determine travel risks
First thing to do is to know the risks that you and your family might be exposed to when you go on holiday. This is important because different trips can expose you to different risks. That said, different trips required different type of travel insurance. For example, going to the beach for a whole week is less risky compare to going to the mountains and doing cliff diving.
Check your other insurance policies
After identifying the travel risks, it’ll be easier for you to figure out what kind of coverage you and your family will need. Before you contact your broker or insurance company, check first if your other existing policies offer some travel coverage. For example, your home insurance might offer coverage for your belongings. It’s also worth checking out your credit card. Some will actually offer free travel insurance if you pay for everything using your credit card. By doing this, you can significantly lower the cost of your family travel insurance.
Cheapest is not always the best
Saving from your family travel insurance is a good thing. However, going with the lowest policy might not be the best option. Some policies are more expensive for good reasons. So, don’t make price your sole determining factor. Be willing to spend a couple of more dollars if it means getting the kind of coverage that you and your family really need.
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