Saturday, August 28, 2010

How to Save Money on Travel Insurance

...AND avoid having to handle all those medical bills if something does happen?

Buy low cost medical coverage and emergency medical evacuation coverage from an insurance company that is a "primary payer."

There are many types of travel insurance you can buy. Personally, I buy full coverage from Access America through my travel agent at Sea4Sail which includes covering the cost of my trip in case we have to cancel before we depart.

But if you want just emergency medical coverage, there are ways to do it inexpensively. First, request a high limit on your coverage. Raising the limit will only cost a few dollars. If you have to be medically evacuated the cost can be very high, especially if you are traveling to a third world county.

Second, buy a policy that has "zero trip cost." In other words, the policy has nothing to do with the actual cost of your trip and won't even take effect until you first depart.

Third, buy a policy where the insurance company acts as "primary payer." As primary payer, all of the bills go directly to the insurance company. They take care of everything. With a "secondary payer", you get the bills first, must pay them upfront and then submit them to your insurance company for reimbursement.

Save yourself the headache by buying the policy from either Travelex or Travel Guard, both of which offer primary payer policies. Or contact Travel Insurance Center which carries plans from both of these companies and can give you a quick and easy quote.

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