If you’re considering options for insuring your holiday as early as the planning stage, congratulations. After all, for the savvy traveller, travel insurance is a must. And while many people think going off to enjoy some time off in the sun is most likely going to be a calm, peaceful and uneventful experience, those in the know do realize that securing coverage for various eventualities may be the most prudent decision one can make in planning a trip.
The next step is, of course, choosing the right plans for insuring your holiday. Travel insurance is not a ‘one-size fits-all’ sort of deal. Not all policies are the same, and more importantly, not all of them may offer the right amount of coverage for the kind of trip you may have planned.
The cost of insuring your holiday varies depending on several factors. Here are just a few of the things that may affect the pricing of the policy you may have in mind.
Age
If you are an older traveller, insuring your holiday may cost you significantly more than someone in their twenties or thirties. In fact, some policies will not even cover travellers aged 65 or over, while others have 70 years as the upper limit. For those that do, prices increase sharply as those ages are reached, while some may require special coverage for those above those maximum ages.
The best way to handle this is to compare offerings according to the various rates of increase, maximum age and age bands. There are also different insurance companies that specialize in insurance for older travellers, which may provide different options to choose from.
Pre-existing Medical Conditions
As with regular insurance policies, the presence of pre-existing medical conditions may make it harder for you to purchase a standard policy. As with the age condition, rates are different for those with medical issues and insurance companies do require disclosure of these conditions, including pregnancy. More importantly, insufficient disclosure may void claims being denied even when the claim has nothing to do with the condition as many have discovered too late.
It is a better idea to disclose up front any medical conditions and simply find a policy that will cover them for the most reasonable rate. Shopping around for the best coverage for medical conditions to ensure you’ll have no problems getting medical care should you fall ill on your trip.
Climate
Climate and weather affects the premium you will pay. Not only do rates differ from cold climates to warm, but geopolitical situations in countries affect these rates as well. What’s more, since many plans are priced based on a percentage of the trip costs, you may be paying higher costs when you travel during what is considered “peak season” than if you go during the low season.
Activities
If you’re just planning to relax on the beach or sightsee during your trip, you can definitely expect to pay much less for a policy than if you were going on a skiing, diving or paragliding trip! In fact, you may wish to secure special coverage for your adventure holiday- many agencies offer plans specifically for these kinds of travel.
