How to Avoid Travel Insurance Scams

travel insurance items, Image by lergik via FlickrWhen you are planning a vacation, you may want to purchase additional travel insurance to help protect you. Unfortunately this can be hard to do because there are many different travel insurance scams. There are legitimate travel insurance policies out there; you just have to spend a little time researching your options.

What Is Travel Insurance?

Travel insurance is a type of insurance that you may purchase to help protect yourself while traveling. Travel insurance can offer a wide range of protection products for your vacation such as, baggage insurance and medical insurance while you are traveling. This type of insurance may also protect you in the event that an emergency happens and you will not be able to travel on the dates you had selected.

Travel Protection Is Not Insurance

Travel protection is not the same as travel insurance. This is probably the biggest misunderstanding travelers experience when trying to purchasing travel insurance. Insurance is regulated by the state in which it is being sold. Travel protection does not have to be regulated by the state or anyone. One way to avoid making the mistake of purchasing travel protection instead of travel insurance is to read the policy in its entirety before making the purchase.

Compare Companies and Policies

Everyone knows that it is important to shop around when looking to purchase any type of insurance, and it is equally important to get a sample policy to read before making any purchases. By comparing different companies, rates, and policies, you will ensure that you are purchasing a legitimate insurance product that fits your needs. It is your responsibility to make sure that the product you purchased is from a licensed insurance agent and that it provides you with the coverage you need. If you don’t have time to call multiple companies, you can easily get insurance quotes online.

Research Companies

It may take a little bit of your time to research each company that you are considering, but it will be worth the time when you know exactly what you are buying and who you are buying it from. It is also important that you know who underwrites the insurance that you are buying. The underwriter should be licensed, regulated, and insured.

Online Insurance Companies

If you are thinking of buying your travel insurance policy online there are a few extra items that you should check before making your purchase. Of course you should research the company and be sure that they have a physical address that is legitimate. Verify any contact information that they have before you purchase insurance through their website. Do your research to be sure that the insurance agent and underwriter are licensed to sell insurance in your state. Do not give them your banking or credit card information until you have verified that they are an insured, legitimate insurance agency for your state.

Double Coverage

You may not need to purchase travel insurance if you used a credit card to purchase your vacation. Many credit cards provide automatic coverage for lost baggage or even trip cancellation. Call your credit card company and ask if they offer any types of insurance while you are traveling. Check with your health care insurance provider to see if you will have insurance coverage where you are going. Many times you will have health care coverage throughout the nation, so if you are not traveling out of the country you may not need additional travel health insurance.

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