When you are off on a vacation, life could not be merrier. You feel good, a permanent grin covers your face, and there are not many things which can ruin your good mood. That is how it is supposed to be. Vacations were invented to bring that happiness and positivity back into your life.
If you are off on a foreign holiday—the items to remember are visa, air tickets, currency exchange, and your international travel insurance. Yes, without one, there is nothing to cover your health and wealth while you travel.
Now, here’s one thing you should know about travel insurance. The place you visit influences your premium. So a travel insurance for UK will cost you more than a travel insurance for Indonesia. Always keep that in mind.
There are a few other factors which influence your travel insurance premiums too. So, if you are buying a travel insurance for USA; here are the points you should keep an eye on.
- Sum Insured
The sum you wish to insure that plays a major role when it comes to deciding your travel insurance premium. Higher the sum insured, higher is the premium you will need to pay.
The sum insured depends on the geographical region you wish to visit. If you visit a room with expensive medical health facilities or high propensity of danger, the sum insured goes higher.
- Location
Visit a western country where healthcare is expensive, you pay higher premiums but since Southeast Asia has cheaper medical facilities—you pay less.
While Asian nations have cheaper premiums, Japan is an exception and fetches high premium rates because it is prone to natural calamities such as earthquakes and tsunamis.
- Trip Duration
The duration of your trip has a direct effect on your international travel insurance premium. Say you are visiting USA for 5 days—you pay x premium but if you decide to visit USA for 14 days—you pay more than x even if all the other parameters remain unchanged.
- Type of Trip
Are you visiting USA as a student or is it one of the many trips you make in a year? Is it one time trip? Are you a senior citizen visiting USA? These questions matter because travel insurance has various plans tailored to a variety of audience.
There are—single trip plans and multi-trip plans. Each has its own premium rates
- Your Health
It is vital that you inform the insurer about any pre-existing health conditions you suffer from before buying a travel insurance policy. Insurers take a look at your health and the liabilities that may occur from it before deciding the premium. Most insurers do not cover pre-existing diseases as well. Disclose all health related facts about you to the insurer.
These five points are what influence your travel insurance premium. The next time you are off buying a policy, keep these points in mind.
Best Information 