The Complete Guide to Customizing Your Travel Insurance

When it comes to travel insurance, one size does not fit all.

If you’re planning a big trip this year, you may have already figured it out. But what you don’t know, because it’s one of the best kept secrets in the travel insurance industry, is that travel insurance personalization exists.

“In today’s on-demand world, convenience is king when it comes to customer experience,” says Mario Matulich, president of Client Management Practice. “But personalization is the real secret weapon that turns good service into memorable service. When companies go the extra mile to personalize every interaction and provide flexible, personalized experiences for every customer, it leaves a lasting impression and builds loyalty for life.” life”.

Why customize travel insurance?

The idea of ​​someone being loyal for life to a travel insurance company may seem remote, but I’ve seen it. Travelers have a positive experience with a travel insurance company, especially when presented in a time of need, and they become customers for life. Tailoring a travel insurance policy to each individual creates a similar connection, experts say.

“Now more than ever, travelers are looking for personalized travel insurance plans that offer them the right protection for their specific trips,” says Bailey Foster, vice president of travel insurance at trawick international. Customers are looking for features like cancel for any reason, stop for any reason, and additional benefits for travel delays.

The demand for personalization led Trawick to create a new product called Safe Travels Flex, which allows travelers to select add-ons such as cancel for any reason or stop for any reason, as well as emergency medical cover, medical evacuation and lost or delayed baggage. .

“This allows travelers to create a trip cancellation plan based on their unique needs, with the coverage that’s right for them,” Foster adds.

Many travel insurance companies try to anticipate your personalization needs by creating a product that is already customized for your experience.

For example, if you are an adventure traveler, you can find everything you need with a product like Redpoint’s. Ripcord Master Trip Protection Plan. It is made for travelers heading to remote destinations with limited communications or medical facilities. Ripcord provides 24/7 access to a team of safety and medical experts who can assist you with emergencies you may encounter while traveling. So effectively, the policy is already personalized.

How to buy personalized travel insurance

It’s true, your travel insurance options can be a bit overwhelming. So the first step to buying the right custom policy is to get one-on-one advice, experts say.

“A little-known trick to buying travel insurance is to consider buying it from your travel advisor,” says Daniel Durazo, a spokesman for Allianz Partners USA. “An agent can provide you with the product that best suits your itinerary. It’s a great way to avoid overpaying for travel insurance.”

He is right. Too often, travelers start shopping for travel insurance without knowing what they need or might need. An experienced travel advisor can help you navigate the uncertainty and explain if he needs a cancellation policy for any reason, for example

After that you need a checklist.

“Think about the details of your trip,” advises Shannon Lofdahl, CEO of Travelex Insurance Services. “This will help you know what kind of customization you need, which will make shopping for a travel insurance policy less stressful.”

This is what you should be asking:

• Where you travel?
• When you travel?
• How long is your trip?
• Are you traveling for business or pleasure?
• Are you taking a solo trip or are you traveling with family or friends?
• Will your plans include cruises, high-risk activities (such as rock climbing, ski backcountry, or hiking), or road trips?
• What is the total cost of your trip?
• Do you have pre-existing medical conditions that you want covered?

“Once you have this information, you’ll feel more confident selecting the ideal plan and additional coverage options to provide the personalized coverage you need and don’t need based on what’s offered,” adds Lofdahl. “You’ll also know what to look for in policy wording to make sure the terms and conditions of coverage are right for your trip.”

How to customize your travel insurance policy

Here are some expert strategies for customizing your travel insurance policy.

Find the right plan, then customize it

The best way to customize your travel insurance is not so much about picking and choosing certain

benefits and more about finding the right plan for your trip from the start, according to Angela Borden, product strategist at seven corners.

“For example, travel protection plans often provide the best coverage for things like travel cancellations, interruptions, and delays,” she says. “Travel medical insurance plans, on the other hand, often have better benefits for medical emergencies while traveling. Certain types of plans provide better coverage for certain types of trips, so it’s a good idea to understand the differences and how are tailored to your needs.”

read the fine print

Narendra Khatri, director of inraisesays that many travelers assume that their personalized insurance policy will cover them in any case.

“For example, you can spend money on cancellation coverage for any reason and assume that it actually allows you to cancel your trip whenever you want and get 100 percent of your money back,” he says. “It is not like this”.

In reality, canceling for any reason, probably the most popular customization option, only allows you to receive a refund of 50 to 75 percent of the cost of your trip.

Reading the fine print is always good advice (so good you may see it again).

look for updates

Some policies have specific upgrades you can add, such as waivers for pre-existing conditions, cancel for any reason, rental car damage, additional medical coverage, and even more coverage for travel delays, says Terry Boynton, president of travel insurance therea travel insurance comparison site.

“Sometimes these updates have other requirements that you need to meet,” Boynton adds. “These include insuring all non-refundable prepaid travel costs you have made for your trip, canceling your trip within a certain period of time before departure, or being medically fit to travel at the time of purchase.”

Adapt your policy to the trip

What to look for will be determined by the needs of your particular trip, experts say. “For example, in a post-COVID world, looking to go to a recently reopened long-haul destination is not only expensive, but also carries the risk of potential changes in restrictions and regulations that may affect your travel plans.” says Joe Cronin. , President of International Citizens Insurance. “In such a case, it would be ideal to find a policy that covers cancellation for any reason.”

look at the clock

Personalization plugins often have deadlines, says Doron Samish, vice president of products at Faye travel insurance. “Guidelines typically include that you must purchase the cancellation add-on for any reason within 14 days of the date of your initial travel deposit, such as your flight or hotel reservation,” he says. “In addition, you will need to notify your provider that you will be canceling your trip no later than 48 hours prior to your scheduled departure date.”

Failure to meet these deadlines may void your policy, so be sure to keep an eye on your calendar when customizing.

Here is the plugin you should always consider

That’s emergency evacuation coverage, says Stan Sandberg, co-founder of the travel insurance site. TravelSeguro.com. But be careful not to buy too much coverage.

“If you’re traveling to a very remote part of the world with limited medical facilities, you’ll want a higher coverage amount,” he says. “If you are staying in a major metropolitan area in the United States or in a country close to home with excellent medical facilities and an overall health care system, you may be okay with a lower emergency medical evacuation benefit.”

If you take multiple trips and the costs add up, you may be considering the wrong policies, says Chiranth Nataraj, chief executive of VisitorGuard.com. Instead, consider multi-trip coverage.

You can buy a policy that covers multiple trips of up to 45 days.

“Once coverage is in place, there is no risk of supervision and you will never lose protection for travel throughout the year,” says Nataraj.

How do you know you customized your policy correctly?

You won’t know for sure until you have to file a claim. But you can get a good idea by knowing the cost of each component of the trip.

“To determine the correct amount of coverage, consider the total costs of your prepaid trip, such as prepaid flights, lodging, and tours, as all policies will have a trip cancellation coverage limit,” says Terra Baykal, senior marketing manager. of nomads of the world.

Baykal says most insurance policies have per-item reimbursement limits on lost or stolen belongings. He remembers that the insurance company will take depreciation into account when paying claims. Cancellation for any reason coverage also has payment limits and may require travelers to insure the full cost of their trip.

“Always read the fine print before you buy,” she says.

So whether you’re taking a special vacation or traveling multiple times, customizing insurance coverage could give you even more peace of mind.