Where Should You Go to Buy Travel Insurance?
You’re all set for your next dream holiday: clothes have been purchased, luggage has been packed, flights and accommodations have been booked, but what about travel insurance, and do you need it? There are as many types of travel insurance packages as there are types of insurance. You might not even need it as the coverage offered may overlap with other insurances that you’ve purchased. If you still think you need one, though, here are the places you can go travel insurance shopping:
From Insurance Companies
This is the most common way to purchase travel insurance. There are various companies that offer this insurance in Malaysia, such as Allianz, Tokio Marine, Prudential, Etiqa, and Citibank. You may choose to purchase your insurance over the counter at their branches or online through their website. Some travel insurance packages are also available through booking sites. By purchasing directly from an insurance company, you’re able to talk to a sales representative who specialises in the business of insurance and is hopefully able to suggest a travel insurance package that meets you needs. You can also ask them for a sample copy of a policy you’re interested in to read the fine print before purchasing.
From an Online Broker
For those who are looking for ease of comparison and purchase, there are online brokers to turn to. Online brokers like InsureMyTrip.com has insurance policies from many carriers line up on their virtual shelf, making it easy for you to compare prices and details of the policies before you dive in. Be sure to go for an online broker that you trust – read customer reviews about them if it’s the first time you’re trying it out.
From Your Airline Company
Your airline will typically offer to sell you travel insurance when you purchase your flight ticket from them. Read the fine print carefully before you think it’s a nifty deal, though! Some airline travel insurance policies only cover you while you’re on-board, which means that you’d be vulnerable once you bid the airport adieu. And in the rare event that the company who owns the airline goes bankrupt, your coverage might disappear.
From Your Travel Agency
If you’re thinking of booking a tour or a package holiday, you may also consider purchasing your travel insurance from your travel agency or tour company. They will probably a few on offer. Keep in mind, though, that they are likely paid in sales commissions for every policy sale on behalf of the insurance company they’re hawking for, so the offers on the table might be the most profitable for them, not necessarily the best fit for you. Don’t be afraid to check out other alternatives if you find that the policies on offer aren’t good enough.
From Your Credit Card Benefits
This last option isn’t so much a means to purchase travel insurance, but rather a means with which you may have been unknowingly covered by travel insurance all along. Many credit cards, such as those geared towards air miles or for travel, do offer travel insurance as a perk. The insurance will activate itself once the terms and conditions for it have been met, usually by purchasing your flight tickets using that particular credit card. Check out your credit card’s fine print before you even consider purchasing travel insurance, just in case you make a redundant purchase.
Besides money, the fear that something may befall you when you’re overseas and far away from easy help is one unease that often lingers before and throughout your trips. Where you purchase your travel insurance policy, and what type of policy you purchase, matters.