About travel insurance

A travel insurance is a rather annoying necessity, which nobody really likes to spend neither money nor time on. Unfortunately it is necessary to do both, but by picking the right insurance you can save money and get some peace in mind. The goal is not to get the cheapest insurance possible, but to get the right insurance for the cheapest price.
 
Though some like to be covered for everything thinkable, the main reason to take out travel insurance is to be medical covered in case of serious illness and a five digits hospital bill. Since there is no point of buying insurance that isn't covering you, we have addressed some important issues to look for.

• Do you need travel insurance in the first place? Some home/health insurances do already cover short trips abroad, so check with your provider.
• Can you take out the insurance only for the period needed? Few insurances allow you to start outside your country of residence. This could mean that you are forced to buy insurance from day one, even though the first bit of your trip is already covered by other insurance.
• Does the insurance cover where you are going? Some insurances have US/Canada/Japan as additional parts and some American underwriters doesn't cover travels in countries under trading embargo like Cuba, Iran and Syria.
• Does the insurance cover what you are going to do, like bungee jumping or trekking in high altitude, or do you need to pay extra (which is called premium)?
• Does the insurance also cover personal belongings and if yes, what is the max limit for single item and e.g. is SLR camera equipment considered as one single item?
• How much is the the deductible/excess - meaning how much of any claim is not covered by the insurance?
• Is a return ticket required? Some insurances now demand that you have a return ticket (don't ask us why).
• Is the company easy to deal with, in case of you have to make a claim?
• And the last point is only for those that don't a keep medical insurance in their country of residence while travelling. Will the travel insurance repatriate you in case of serious illness, because they will not cover you after your return. Solution to this could be an expatriate medical insurance.

There are more travel insurance companies that anyone cares to count. Most are target for holiday people with a price tag to match and a cover that doesn't suit the independent traveller or backpacker (like holiday cancellation and flight crash insurance).
 
Unfortunately it's not possible to say which travel insurance is the most suited or cheapest, it all depends on your specific situation like age, planned activities, duration of the trip, etc. So check the policy wordings carefully.
 
Reviews of travel insurances for people living in the United Kingdom (UK).
Reviews of travel insurances for people living in the rest of Europe (EU).
Reviews of travel insurances for people living in America (US).
Reviews of travel insurances for people living in Australia or New Zealand (AUS/NZ).
Reviews of travel insurances for people living in the rest of the world.