How to Choose Travel Insurance to Save a Lot of Money

Is travel insurance worth it? It’s a common question that travelers ask themselves before their week-long getaway or long-term travel plans. Travelers often struggle with spending money on a travel insurance plan they may not use or deciding which plan is best for them and their families. 

While most travelers already have some form of health insurance (e.g, private health insurance, insurance through your employer, Medicare, or Medicaid) the issue is whether the plan will cover any healthcare-related issues while traveling abroad.

Generally speaking, most health insurance plans help cover your medical, surgical, and prescription drug costs. But, when traveling, most health insurance plans only cover the care needed to treat an emergency. And, each health insurance plan has different definitions of what an emergency is. You’ll likely be required to pay out-of-pocket (cash) and submit your claims for reimbursement when you return home. 

While traveling abroad can be exciting, there are unfortunately times when we have to think about the unpleasant “what ifs” that may happen. What if I get sick? What if I get injured? What if I need surgery? 

Here we’ll discuss all you need to know about travel insurance – what it is, why you need it, and our top pick for the best travel insurance to save you money, time, and frustration if things go wrong.

So What Exactly is Travel Insurance and Why Should I Get It?

Travel insurance can help fill in any coverage gaps in your current health insurance plan. It can also act as a primary health insurance policy for full-time travelers.

There’s an abundance of travel insurance companies to choose from, and it can seem very overwhelming. But travel insurance is the single most important thing you will need for your trip when traveling abroad. It’s security for your health and your pocketbook.

Let’s face it, getting sick is expensive, but having to be airlifted to a hospital because of a motorcycle injury or surgery due to an unexpected heart attack is more expensive.

Even non-health-related events like losing your luggage or having to cancel your Bali trip and fly back home because of a family emergency can be very costly. 

Having travel insurance can help offset these costs and ensure that you won’t be burdened with costly medical bills or untraveled, expensive vacations.

Before my 27-month trip around the world, I researched many travel insurance companies. My goal was to buy the most comprehensive travel insurance plan – a plan that would act as both medical and true travel insurance (e.g., trip cancellation and interruption coverage, luggage coverage, natural disaster coverage, etc.). I ended up choosing Seven Corners. 

Seven Corners offers high coverage limits on your medical expenses, renewable for up to 3 years. You can choose deductibles ranging from $0 – $5,000, which is great for many budgets. And, if you’re an adventure seeker like me, make sure to add hazardous sports coverage to your policy. This added protection covers injuries related to sports activities like scooters, surfing, and skiing.

When choosing a policy, look for travel insurance that offers emergency evacuation to the nearest medical facilities or from the hospital to your home. You’ll also want a plan that provides 24/7 emergency services that arrange medical evacuations and provides other travel advice. 

Even the best travel insurance companies have their limits. Make sure to read the fine print. You can’t get an annual physical or dental cleaning with travel insurance. There’s a great chance you’ll never need your travel insurance. But, when accidents happen, you’ll have peace of mind that you have chosen a great plan.

We’ve done the research for you now all you have to do is sign up for a plan that works best for you and your family.

Have safe and happy travels.

If you would like to learn more about travel insurance or which plan would be best for you and your family’s next adventure, click here.