Types of Travel Insurance to Save you Money

When you are travelling on a budget, insurance becomes more important. We have talked a lot about the importance of insurance on these updates, but many spendthrifts are still shying away. Yes, it costs you more up front. You will be tacking on anywhere from $15 to $300 for a trip (hopefully closer to the $15 if you do it right). In the end, though, the point of all insurance is to save you money. Here is a brief list of the different types of insurance and what each can do for you:

Single Trip Travel Insurance

This covers you for one-trip of the basics. Those basics, generally speaking, are loss of luggage, flight delays, cancellations, loss of travel documents and other strictly “travel-related” mishaps. Anything that occurs while you are at your destination, such as theft from your hotel room, may not be covered. At the very least, you should purchase single trip insurance to save you from fees. Airlines are less willing to reimburse tickets in this recession, and you will be stuck with the bill.

Annual Travel Insurance

This will cover all of your travels for one year. This may include business and personal travel. Any time you leave a certain radius of your house, typically out of state, your travel insurance will kick in to protect you. Flat tires, unplanned hotel stays and emergency room visits may be assisted even if you are just visiting Grandma for the weekend. Weigh the costs of getting single trip coverage for an average year, then see if annual insurance would pay off for you.

Family Travel Insurance

Exactly what it sounds like, family travel insurance covers all members of your family, whether you are travelling together or separately. Kid going to Europe for a school trip? Covered. Husband heading fishing in the mountains? Covered. For a family travelling in different directions or enjoying a few trips together each year, annual family travel insurance can pay off.

Backpacker’s Insurance

Backpacker’s have unique challenges in terms of insurance. They are typically staying in hostels or outdoors, their belongings are not well protected, they are engaging in more active and risky activities, and they are generally enjoying the company of other budget travelers who may not be the most white-collar crowd. All of these risk factors are the reason why backpacker’s insurance lines have been specifically targeted for unique challenges. Before you leave to backpack, ask your insurance company about what you should protect yourself for. Then shop around the Internet for the best deals.

Sports Travel Insurance

Whether you are enjoying winter sports, such as skiing and snowboarding, or water sports, like scuba and jet skiing, there are travel insurance packages to protect you. Loss of equipment can be very expensive as are medical emergencies. With good fortune, you will not need your insurance. Insurance is a great instance of an item it is better to have and not need than need an not have.

Tags: Cheap travel, cheap travel insurance, skii insurance, watersport insurance