Squaremouth Travel Partner News

When Should Travel Insurance Shopping Begin?

Joshua Walker — Thu, 16 Jul 2009 16:03:11 +0000

Travelers can purchase insurance at any time up until 24 hours before departure. In fact, travel insurance can be purchased before the trip is actually booked. Of course, the cost, length and type of trip would need to be estimated, leaving the possibility that they may over insure, but it is still an option. The best idea is to begin comparing travel insurance at the time of booking, as there are specific coverage benefits that can be available for only a short amount of time from the deposit date. Some of the benefits that are only available for a limited time can include: cancel for any reason, cancel for work reasons, financial default and pre-existing conditions. Also, in many cases, waiting to purchase travel insurance will not affect the price to the benefit of the traveler. So, most of the time, the same or less money will provide a longer window of coverage when the traveler purchases a plan early. Always refer to the certificate of insurance for details.

Some Plans Provide Similar Benefits but Under Different Coverage

Joshua Walker — Thu, 02 Jul 2009 20:19:29 +0000

Many travel insurance plans provide similar coverage across the board, however the coverage limits can vary, and some benefits may exist in different categories of coverage. A good example is when a traveler is delayed, they may be entitled to benefits under missed connection, travel delay and or interruption.

Missed connection is designed to protect travelers going on a cruise. If the traveler is delayed and it results in missing the cruise ship’s departure at the port of call, then missed connection coverage provides assistance for the traveler to catch up to the ship at another port. There is normally a dollar limit and required amount of time passed before the benefit is available. If a travel insurance plan does not provide missed connection coverage, then this type of situation normally falls under travel delay.

Travel delay coverage will help offset the costs associated with being unable to travel, most commonly when airlines have to delay or cancel flights. Travelers can be reimbursed for lodging, meals, local transportation and phone calls while delayed. This coverage may also have daily and policy dollar limits, as well as a required number of hours passed before coverage begins. A travel insurance plan that does not offer travel delay will most likely cover this type of delay under trip interruption.

While trip interruption most commonly means that the traveler has missed a portion of the trip, for some travel insurance plans, trip interruption also addresses these potential delays. There can be limitations and requirements with regard to money and time, however, trip interruption is calculated from trip cost. This could have a negative impact if the traveler has to interrupt the trip again after the first delay, as the money allocated for trip interruption will be less than when they began the trip.

Always refer to the certificate of insurance for details.

Click to login to your affiliate account, or click the Travel Partners link at the top of any page. Questions and comments are always welcome. Please leave a message with this blog post, or email Joshua Walker at jwalker@squaremouth.com, or call 727-231-0117.

Look Back Period for Pre-Existing Conditions

Joshua Walker — Wed, 01 Jul 2009 20:36:07 +0000

When shopping for travel insurance that will cover pre-existing conditions, pay attention to see if there is a look back period. A look back period means that from the policy effective date, counting backwards a set amount of time, if that pre-existing condition has not changed, then it will not be considered pre-existing, thus treated the same as, say, a broken arm. It is important that the condition has not changed, either for better or worse, with regard to treatment, diagnoses, medication or any other change identified by the physician. Remember, even if a pre-existing medical condition has improved, that is considered a change. The look back period can range from 60 days to three years, depending on the plan. Always refer to the certificate of insurance for details.

Deposit Date and Travel Insurance

Joshua Walker — Mon, 29 Jun 2009 18:29:56 +0000

The deposit date in a travel insurance quote will determine eligibility for several coverage benefits. Coverage for pre-existing conditions, financial default and cancel for any reason are typically only available for a short window of time from that deposit date.

When obtaining a travel insurance quote, make sure to be accurate on the deposit date. This is the day that the first travel arrangements were either booked, reserved or a deposit was made. So if the airfare was booked two months before the lodging, then the day that airfare was booked is the deposit date.

Remember, that all pre-paid and non-refundable costs can be included in a travel insurance quote. So always think back to make certain of which arrangements were made first, when calculating the deposit date.

Destination and Travel Insurance

Joshua Walker — Thu, 25 Jun 2009 20:30:25 +0000

When getting a travel insurance quote, the traveler is asked what the destination is. Do not let this confuse, as travel insurance plans will cover the traveler worldwide. When a quote is for somebody taking a cruise, with multiple ports, or somebody traveling to several countries in one trip, simply answer the destination question with one of the prominent stops along the way. This will not effect the pricing of the quote, or the coverage. If ever there are specific country exclusions, there will be a notification and a required acknowledgment before the purchase is able to be completed. Always refer to the certificate of insurance for details.

Policy End Date and Extending Medical Coverage

Joshua Walker — Wed, 24 Jun 2009 17:53:05 +0000

Travel insurance plans are designed to cover the traveler from the front door step of their home, through the trip, and back to the front door step of their home. However, there are situations where coverage can continue beyond that time. In most cases, there is a set amount of time from an incident requiring medical attention in which the traveler must receive treatment, in order for it to be covered. When treatment is required beyond the scheduled return date, some plans will extend emergency medical & dental coverage. This additional medical cover may have a time limit and a dollar limit, depending on the policy. Always refer to the certificate of insurance for details.

AM Best Rating and Travel Insurance

Joshua Walker — Tue, 23 Jun 2009 20:01:38 +0000

Each travel insurance carrier on squaremouth.com has their AM Best Rating listed. A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. Policyholders and depositors refer to the AM Best ratings and analysis as a means of assessing the financial strength and creditworthiness of risk-bearing entities and investment vehicles. For travel insurance, the rating is important to put travelers at ease when there is concern over whether or not the insurance company will be able to pay claims. The rating is a letter grade, A through F. Today, all of the insurance carriers on squaremouth.com have an AM Best Rating of AA- or higher, which is very strong.

Which Travel Insurance Company?

Joshua Walker — Fri, 19 Jun 2009 20:18:16 +0000

After getting a travel insurance quote, it is often asked, which company should I choose? Squaremouth allows travelers to search over 250 products from 23 carriers. All of these travel insurance carriers operated within Squaremouth’s zero complaint guarantee. If one of our clients has a complaint against an insurance provider and the handling of their claim, Squaremouth will remove the carrier from the comparison engine until the complaint is satisfactorily resolved.

Squaremouth also provides the AM Best Ratings for each carrier. This is a grading system measuring the financial strength of each underwriter to see if they are going to be able to pay claims.

Ultimately, choosing the right travel insurance plan has less to do with which company, and more to do with the specific needs of the travelers.

How to Choose a Travel Insurance Plan

Joshua Walker — Thu, 18 Jun 2009 20:32:51 +0000

After obtaining a travel insurance quote, many travelers wonder which travel insurance plan they should select. The answer depends on the traveler and the trip. Try to isolate which benefits of coverage are most important to that person.

A good place to start is whether or not pre-existing conditions are a concern for the traveler. Remember, even though the traveling party may be in perfect health, a family member back home may have a pre-existing condition that could lead to trip cancellation or trip interruption.

From there, try to determine if there is a desired limit of emergency medical & dental coverage. Always pay attention whether the allotted amount is per traveler or per policy. Many countries require at least $50,000 of cover in order to obtain a Visa. This tends to be a comfortable limit for many travelers. Always consider the destination, type of travel and activities that might be involved, as they may influence the limit of emergency medical & dental with which the traveler is comfortable.

Emergency medical evacuation & repatriation often has a strong influence on choosing a policy when the traveler is going to be international, or on a cruise ship. The costs of an ambulance or airlift can be substantial depending on the circumstances. Again, see if the scheduled benefit is per traveler or per policy.

If the traveler has any other specific concerns about trip cancellation or trip interruption, investigate to see if there are covered reasons addressing those concerns. If not, suggest adding cancel for any reason to the policy in order to provide complete peace of mind.

Throughout this process, continue to refer back to the premium cost. Once several benefits and desired limits of coverage are satisfied, price can become the next important criteria for selecting a plan. Also, perform a side by side comparison of the remaining plans being considered. Start to identify each plans limitations with regard to: travel delay, baggage delay, baggage & personal items loss, life insurance and other benefits. Minor variations here can help elevate a policy above the rest. For example, two policies that are similar in price, medical, medical evacuation, but one only requires a six hour delay for the travel delay benefit, while the other requires 12 hours or more, will help make the decision.

Overall, comparison is valuable in helping a traveler find the right policy for them. Thus, it is imperative to search, sort and select based on their criteria.

The Latest Date to Purchase Travel Insurance

Joshua Walker — Wed, 17 Jun 2009 20:30:46 +0000

A travel insurance policy can be purchased up until the day before travel. It is wise to begin shopping before then, as some benefits, such as cancel for any reason, are only available for a short time from the deposit date. By purchasing a policy early, the traveler will maximize the benefits of coverage, and in most cases will not have paid more. Waiting until the last minute leaves the traveler exposed if something unexpected does occur, and they are not covered.