NEW YORK, NY--(Marketwire - May 12, 2010) - The United States Travel Insurance Association is offering tips to consumers to help identify reputable travel insurance and make a prudent decision about travel insurance.
- Know who is underwriting the policy. Ask for the name of the insurance company underwriting the policy. All legitimate travel insurance policies must identify the insurance company.
- Check out the company. If you are not familiar with the company providing your travel insurance, do a little research. Visit the company website. Check A.M. Best (www.ambest.com), an international insurance rating agency.. Also check for membership in the US Travel Insurance Association (www.ustia.org). The Web site carries a list of member companies, each of whom adheres to strict legal and ethical standards.
- Buy from a reputable source such as a travel agent belonging to the American Society of Travel Agents (ASTA), or from a reputable cruise line, tour operator, airline, Internet site, insurance broker or directly from the travel insurance provider. Sellers of travel insurance must be licensed in each state where business is conducted, and sell only products licensed in that state.
- Assess your needs. Will you need coverage for emergency medical expenses? Do you want to protect nonrefundable deposits for your trip if you have to cancel your trip or a family member becomes ill? Do you want coverage if your personal belongings are lost, stolen, or delayed in transit? Ask yourself what possible scenarios could develop to derail your travel plans.
- Know if you have other coverage. When you travel, don't assume that you have the coverage you need from your credit cards, home owners insurance, airlines, or other sources. Only comprehensive travel insurance offers full protection under a single umbrella.
- Know what the policy includes. Read the policy carefully so you know what is and is not included. Most companies provide a customer service number for questions and answers, and also provide a grace period for cancellation.
- Keep all appropriate paperwork/documentation. When traveling, keep records and save all receipts in case you have to file a claim for travel delay, medical treatment, lost luggage, or any of other unforeseen situations.