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How the Next Big Thing in Insurance Will Help You Save Money?

The Next Big Thing in Insurance may not be in your home town or in Colorado. It may be in India, though. Insurance companies in India are considering adding wearable computer technology to their portfolio of services.

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The Next Big Thing in Insurance may not be in your hometown or in Colorado.

The Next Big Thing in Insurance may not be in your hometown or in Colorado. It may be in India, though. Insurance companies in India are considering adding wearable computer technology to their portfolio of services. If the idea doesn’t impress you, that’s because most insurance companies already use wearables in their businesses. Yet, they’re hoping that the added feature of telematics will entice more customers into purchasing coverage from them.

The Next Big Thing in Insurance

Companies like Avis, Hotels, and Travelocity already have telematics hardware in place. Now it’s just a matter of adding parables to those systems. Wearables like heart rate monitors, calorie counters, and time and speed monitors can help provide patients with accurate information about their workouts. They can also record those activities for use by doctors and other health professionals in the future.

This isn’t the first time that telematics applications have been used to improve company operations. Consider that during World War II, the military put G.I. Rations into storage containers in an effort to save the lives of men on patrol. These medications were supposed to make soldiers stronger, but the containers were eventually discovered to be leaking toxic gases. The government ordered a recall, but the company responsible for storing the medications denied liability. The Food and Drug Administration eventually fined the company millions of dollars for failing to comply with safety standards.

Health care providers have long known that tracking patient information helps reduce mistakes and keep doctors up to date on the latest medication treatments. But imagine how much better hospitals and doctors will be able to serve their communities when they know which medications are working and which aren’t. When patients have access to this information as well, they may be more apt to seek treatment and may even end up with a new doctor. If patients in rural areas can see a specialist without having to drive great distances, chances are they will choose a doctor who is within driving distance. Telematics may help this along by making it easier for doctors in smaller communities to serve their communities effectively.

The idea of the next big thing in insurance is also about convenience for the insured. When people can receive routine medical care right at their home, they don’t have to leave town to go to the emergency room of a hospital. This allows them to save money, which many seniors and disabled individuals do not have a lot of. The availability of telematics services means that family members can receive routine care without spending money they may currently have on travel expenses.

The idea of the next big thing in insurance is also about making life easier for the insurance provider. When a person can receive routine care from a doctor who is conveniently located, then it increases the chances that the person will make a claim on their policy. The use of telematics in the insurance industry is not limited to senior citizens. Many people have found that telematics help them secure better insurance rates when they are younger than required by their current policies.

Home health care is another way that telematics can benefit an individual or family. When someone can receive home health care services right at the comfort of their own home, they are more likely to remain at home longer. This makes it important for senior citizens and disabled persons to continue living independently in their homes, even as they age. Insurance companies realize this, and this has led to more seniors being able to afford home health care services. As the next big thing in insurance, home health care has made progress in the last few years.

Telematics is one of the most innovative ways to improve the quality of life for those who are insured. The advances made in telematics technology are only the beginning, as more improvements are expected in the future. In the mean time, however, it is a service that can make a huge difference to those who use it. If you are concerned about how you are valued by your insurance company, or you just want to be sure that you are keeping your coverage costs low, then consider telematics to find out what it can do for you.

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Vehicle Insurance In The United States

With so many different types of vehicles for sale in the United States, getting the best insurance policy is always an important decision. The prices of car insurance vary greatly, from cheaper policies for a small compact car up to more expensive ones for a luxury car. We have compiled a list of the best car insurance in the country for you to choose from, and here are a few things to keep in mind.

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With so many different types of vehicles for sale in the United States, getting the best insurance policy is always an important decision. The prices of car insurance vary greatly, from cheaper policies for a small compact car up to more expensive ones for a luxury car. We have compiled a list of the best car insurance in the country for you to choose from, and here are a few things to keep in mind.

Payment Required to Be Made

One thing you must be clear on is when the insurance company will pay you for the coverage, as well as how much will be paid. Many insurers don’t wait for the full payout, or take payments in installments, so if you don’t have much in the way of extra money lying around to spare, you may end up going without cover, or paying a lot more than you wanted. Always be able to contact your agent and get a proper contract.

You Need a Truck or SUV

If you drive an SUV or a truck, this might be the case. Having one of those new cars will also come in handy when you start to use your vehicle for business trips, and the insurance company will like that.

There are Insurance Companies For Different Types Of Vehicles

And if your vehicle is not covered by the policy that you purchase, don’t panic, as there are insurance companies that offer an array of insurance policies. So take a look through their website and see if you can find one that is best for you.

A Large Car Loan

Another thing you should take into account is the size of your car loan, especially if you have a new vehicle for business. Most insurance companies require a full payment in order to issue a policy, so if you’ve taken out a loan for the new car, that means you won’t have the money to pay for the insurance when it’s time to renew your policy.

Driving Licence

A big name insurance company might not be interested in your insurance application if you do not have a valid drivers license. Some companies, however, will not offer the insurance if you have a suspended drivers license. So make sure to keep that handy, and be sure to hand it in every time you go into a shop to buy car parts.

It May Be Not Enough

You might need to upgrade your policy. This usually happens when your company decides to do business with a company that has better insurance, but you would also like to take advantage of the opportunity. And if the company’s insurance policy would better meet your needs, you might want to find a better policy from another company.

Changing Car Insurance Policies

If your car insurance is time-limited, make sure you have enough time to switch to a new company, as you don’t want to find that your old insurance company is no longer offering insurance, and you will have to get it at a higher cost.

The Cost

An insurance company that gives you a discount when you are renewing your insurance is also a good idea, as it will help you to save money.

Claiming for an Accident

The last thing that should be thought about is the cost of a damaged car. Any claims made should be substantiated as soon as possible, as it takes a long time to repair the vehicle. Take some photos if you can, or give a friend or family member the keys, as this way they will be around to take photos and help you if you need it.

If your car gets damaged, don’t just wait for the insurance company to pay. Get your damaged car repaired yourself, and take photos of the damages. This way you will make sure that the car is fully repaired before you hand it over to the insurance company.

An extra point to remember is that these tips should not be taken as advice; you have to look out for yourself, and make the best decision for you and your vehicle.

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The Next Big Thing in Insurance: The End of Middlemen

“Middlemen” — the insurance brokers, claims adjusters, reinsurers, pension companies, banks, etc. — were once the domain of executives who oversaw all aspects of an organization’s insurance operations. Their enormous variety of services

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The Next Big Thing in Insurance: The End of Middlemen

“Middlemen” — the insurance brokers, claims adjusters, reinsurers, pension companies, banks, etc. — were once the domain of executives who oversaw all aspects of an organization’s insurance operations. Their enormous variety of services — many of which had little or nothing to do with what actually drove business value for a business — were often viewed by business leaders as unnecessary, wasteful and detrimental to a company’s bottom line.

In recent years, though, this model has been challenged, making room for the emergence of innovative alternative insurance models. Unlike traditional reinsurance arrangements, which protect a company against a risk by investing its assets in an insurance company’s portfolio, insurance-as-a-service models provide companies with end-to-end insurance coverage.

Rather than paying a single fee to an insurance company every time a customer files a claim, businesses can now pay the same amount to a variety of insurance providers without paying high commission and retain full control of their insurance coverage.

To stay on top of your insurance-related responsibilities, you will need to understand how the “financing” of insurance differs from the traditional reinsurance arrangement. And the following are five trends that explain how this can create the foundation for the next big shift in your business.

1. Distributed Insurance Is the New Reinsurance

While traditional reinsurance deals are structured as an agreement between two companies, insurance-as-a-service offerings are developed for use by a company’s insurance team. The traditional reinsurance arrangement aims to protect an organization against a major loss. If, for example, your company’s computer server were to burn down, a reinsurance company would take the bulk of the loss and invest it in a fund that will gradually pay out on your behalf over the course of many years.

In contrast, when insurers provide companies with insurance-as-a-service, they promise to act as your risk manager — implementing risk controls based on your specific business needs — and cover all your risks with broad coverage. They’ll pay for all your claims, but you’re responsible for all your underwriting and insurance activity. You can opt to use one provider’s coverage or switch to another, and you won’t be penalized or prevented from doing so. Instead, you’ll get services in exchange for your data.

2. Insurance Will Soon Come to You, Not Your CIO

At the moment, many insurance companies still rely heavily on their middleman function to sell their products and collect premiums. Although most insurance company executives understand that technology is becoming an essential part of the insurance value proposition, they often don’t see it as a risk mitigation tool, and many are reluctant to invest in new technologies — including platforms for risk management — which could help them take a more proactive approach to managing risk.

To position itself as a leading player in the insurance industry, a company like Expedia now depends on partnerships with independent insurance agents, brokerages and risk management service providers, which together offer a full range of value-added insurance products and services. Rather than relying on traditional reinsurance, the company offers an insurance-as-a-service platform on which they share data and address the information and risk management needs of Expedia and its insurance partners.

3. Software Is Becoming a Part of the Insurance Value Proposition

According to Gartner, 40 percent of insurance companies currently use big data in their products. In the near future, technology will likely continue to play an important role in all aspects of insurance management, including underwriting, claims processing and analytics. Already, companies like Munich Re are using the Internet of Things and mobile technologies to collect big data from connected devices and deploy an early warning system to address cyber threats.

Technology is already having an important influence on underwriting, claims processing and claims management, among other aspects of insurance. For example, claims processing — currently done using print-based documents — will soon be done more efficiently and effectively through a centralized claims database. In the same way, using data to drive decisions and analytics to improve underwriting, claims and the underwriting process could help insurers capitalize on increased operational efficiency.

To take the reinsurance giant Munich Re’s case as an example, it’s clear that insurers like Munich Re see data analytics as a key part of their insurance value proposition. Munich Re has developed an analytics platform designed to solve problems for customers and insurers — in other words, it’s all about shifting from an underwriting-centric mentality to an analytics-driven one. As the value proposition becomes increasingly focused on insurance-as-a-service, this kind of platform will become even more essential.

4. Insurance Firms Are Exploring New Business Models

As much as the insurance industry wants to hold on to its traditional business model, there’s a lot of evidence that organizations need to go through a transformation if they want to survive in today’s digital world.

At the same time, it’s undeniable that insurers and reinsurers are adopting business models that were simply not feasible in the past. For example, the concept of a virtual insurance carrier (VIC) was introduced a few years ago, and it lets insurance companies rent their underwriting capacity to third parties, which can then use the platform to offer their own insurance products on the same platform. These VICs can also offer catastrophe insurance without having to worry about covering their own risks or handling the underwriting process.

This means that insurers don’t have to build a robust infrastructure to offer their own products, which saves them a lot of money and time. This model also allows insurers to maintain control over the customer experience and can lead to innovative new insurance products. For example, Berkshire Hathaway’s Catastrophe group has developed an innovative product called Warranty Safe, which pays for the cost of products if they are delivered as promised.

It’s clear that insurers are embracing new business models in order to stay competitive in today’s digital landscape, and this is especially true for the more traditional insurance types, which usually offer more comprehensive insurance products to comply with regulators and in order to provide comprehensive coverage for clients.

As the nature of the insurance industry changes, insurers must pay attention to the changing landscape — both digitally and in terms of customer behaviors — in order to create more relevant and personalized products. The whole insurance value proposition will evolve as a result of this transformation, which will be no easy task. However, as already seen, there’s no way for insurers to remain the same in a digital world.

By Catherine Payne, VP, General Manager, Program Management and Business Analytics, Validic.

As the nature of the insurance industry changes, insurers must pay attention to the changing landscape — both digitally and in terms of customer behaviours — in order to create more relevant and personalized products. The whole insurance value proposition will evolve as a result of this transformation, which will be no easy task. However, as already seen, there’s no way for insurers to remain the same in a digital world.

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International Health Insurance for Overseas Travel

Since most business travel involves international travel, the insurance benefits that apply to domestic travel are likely to be significantly different from those applicable to international travel. You should not assume that the business insurance benefits provided in a domestic policy cover international travel.

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International Health Insurance for Overseas Travel

Since most business travel involves international travel, the insurance benefits that apply to domestic travel are likely to be significantly different from those applicable to international travel. You should not assume that the business insurance benefits provided in a domestic policy cover international travel. Therefore, you should carefully consider the specifics of your business travel insurance policy, which you should carefully review annually and every time you make a trip.

Critical Illness Protection

Critical illness insurance covers out-of-pocket expenses related to specific types of medical conditions, such as cancer, HIV, and several types of infectious diseases.

Dre may refer to:

The Medicare Benefit Cut Off, on which Medicare Part B premium and/or Part D premium depend

A claimant may apply for coverage under the critical illness benefit, but is not automatically enrolled in coverage.

Who Qualifies for Medicare Coverage

Every eligible American who is at least 65 years old.

Effective January 1, 2018, enrollees who are of retirement age or older.

Participation in Medicare and Part A and Part B.

Part B, Part D and the Medicare Advantage program.

You should consult with your local Medicare office to learn about the coverage you qualify for.

Other Medicare Benefits and Types of Coverage

Medicare Part A covers a certain percentage of the cost of inpatient hospital and skilled nursing facility services for up to 100 days after you enter the hospital.

Part B covers services received in a Medicare-approved long-term care facility.

Medicare Part C provides prescription drug coverage. If you purchase prescription drug coverage through a Medicare Advantage Plan, you must include the Part C prescription drug benefits in the total monthly Part B premium.

Most Part D plans require you to purchase prescription drug coverage to receive this additional Medicare drug benefit.

To learn more about how Medicare works, take a look at this Help to Save You Money video.

Federal Programs

Medicare, Social Security and Supplemental Security Income (SSI) are not included in the Social Security benefits income and you will not receive any Social Security benefits if you receive this information.

Medicare Benefit:

Medicare currently has six benefits:

Premiums: An amount that helps cover costs of Medicare Part B premium and Part D premium for the rest of your life.

Out of Pocket Costs: To help pay the cost of Medicare Part A and Part B expenses.

Medicare Part A deductible

Out of pocket costs: To help pay the cost of Medicare Part B expenses and Part D prescription drug expenses.

Disability Insurance:

In general, an insurance company must cover your annual Social Security and Medicare Part B premium when you are not working or participating in a job training program for more than 30 days.

While this doesn’t mean you should be concerned about your future Medicare coverage, there are some specific situations you should be aware of. This includes children under 18 years of age who aren’t yet covered by Social Security and Medicare, as well as a spouse or domestic partner who is eligible for Medicare.

Federal Programs:

Tax Credits: Certain tax credits are available to lower the monthly cost of Medicare Part B and Part D.

To learn more about Medicare, visit http://www.medicare.gov.

Social Security Income:

Social Security pays benefits to disabled people and individuals who receive Supplemental Security Income (SSI) or, if they were born on or after January 2, 1937, may be eligible for Social Security benefits. Social Security is the only source of income for some of the most vulnerable populations in the country including the disabled, the blind and elderly individuals with limited income. You can read about your Social Security benefits benefits, including how to get your benefit statements, at http://www.socialsecurity.gov.

To learn more about Social Security, visit http://www.socialsecurity.gov.

Supplemental Security Income:

Supplemental Security Income (SSI) or, if you were born on or after January 2, 1937, may be eligible for Social Security benefits. Supplemental Security Income is designed to help some of the most vulnerable in our society, such as the blind and the elderly. You may be eligible for SSI if your gross income is below $16,157 in 2018.

To learn more about SSI, visit http://www.socialsecurity.gov.

Supplemental Nutrition Assistance Program (SNAP):

SNAP is the only federal assistance program that provides food stamps to low-income households. Participants in SNAP may purchase eligible food items at participating retailers and may receive additional assistance to purchase additional food items, such as milk, cheese, eggs, whole grains and other nonperishable items, through the Emergency Food Assistance Program (TEFAP).

To learn more about SNAP, visit http://www.fns.usda.gov.

Supplemental Medical Insurance (SIMI):

Forms of medical insurance that are provided to low-income individuals.

To learn more about Medicare, visit http://www.medicare.gov.

Frequently Asked Questions:

Q. What is Medicare?

A. The federally sponsored healthcare program called Medicare is one of the largest payer of medical costs in the United States. All Americans are eligible to enroll and it’s a free program.

Q. What happens to my insurance if I enroll in Medicare?

A. Your insurance policy is no longer needed. But, if you have a plan that covers long-term care, your plan can stay in effect until you lose coverage, or switch to Medicare Advantage, which is a paid program within Medicare. The following types of Medicare Advantage plans may be offered in 2018: Medicare Advantage-Enrollment Program; Medicare Advantage-Advanced Directive (for beneficiaries who would like help in making medical decisions); Medicare Advantage-Enrollment Program & Advanced Directive (for beneficiaries who have certain health conditions and may not be able to participate in conventional Medicare); Medicare Advantage-Preferred Provider Organization (PPO); Medicare Advantage-Preferred Provider Organization (PPO); and Medicare Advantage-Regional Plan (SP).

Q. What about my medicare supplement insurance?

A. When you enroll in Medicare Part A (Medicare F), you will lose your supplement insurance. You will need to pay for Part A premiums and Part B premiums. For those who use Medicare Advantage plans, you may keep your supplement insurance policy. You will need to use it for medical expenses not covered by Part A.

Q. Can I still use my Medicare Supplement policy for Part A if I lose my Medicare Advantage plan?

A. You may keep your supplement insurance policy, but any unpaid Part A premium balance must be paid by you (the beneficiary). You can pay the balance of your unpaid Part A premiums in monthly installments or in one lump sum. You must pay a premium at the time you are disenrolled from your Medicare Advantage plan. This will mean that you can no longer use your Medicare Supplement insurance policy for Part A.

Q. Do I have to pay Part A premium surcharges in 2018?

A. There is no difference in Medicare surcharge for Part A in 2018 versus 2017. There is a 0.9 percent surcharge on Part A for beneficiaries who are 100 or older.

Q. How much do my Part A and Part B premiums go up in 2018?

A. If you are in the same year of eligibility as in 2017, you pay the same amount of Part A and Part B premiums as in 2017. If you are a new Medicare beneficiary in the same year of eligibility as in 2017, your monthly Part B premium will be higher in 2018. Part B premiums are based on your income and the projected cost of providing care under Medicare. If your income is below a certain level, your Part B premiums will be zero. If your income is above a certain level, you may pay a Part B premium surcharge. If your income is above a certain level, your Part B premium may be based on your average weekly wages. You are entitled to a $0.80 monthly deductible for each Part B premium.

Q. Can I still enroll in Part D if I lose my Medicare Advantage plan?

A. No. Enrollment in Medicare Part D, the prescription drug benefit, will be prohibited for you. If you already enrolled in a Medicare Part D drug plan, you cannot enroll in a different Part D drug plan during the 2018 Medicare enrollment period. You will lose Part D coverage if you don’t have a plan to switch to and you lose your Medicare Advantage plan.

Q. Can I switch to a Medicare Advantage plan if I lose my Medicare Advantage plan?

A. Yes, you can. You can switch to a Medicare Advantage plan through the Special Enrollment Period (SEP), which is Dec. 31, 2017. If you did not enroll during the SEP, you will be automatically enrolled in a new Medicare Advantage plan if your current Medicare Advantage plan ends. You can visit the Medicare.gov/manage-advantage page for details on how to apply to switch to another Medicare Advantage plan.

Q. What if I lose my Medicare Advantage plan and can’t find a new one?

A. You will need to choose between “dual-eligible” (covered by Medicare Part A and Part B) and “bare-bone” (covered only by Part A) Medicare plans. In some cases, when Part B and Part D premiums and expenses are similar to a particular Medicare Advantage plan, a Medicare Advantage plan with similar costs is considered “dual-eligible.”

Q. How will cost-sharing for Part A and Part B change in 2018?

A. Effective Jan. 1, 2018, Medicare Part A and Part B monthly premiums will increase by an average of $1.50 a month. The Part A and Part B beneficiary share of the hospital and skilled nursing facility charges will increase by an average of $24 a month.

Also effective Jan. 1, 2018, Medicare Part B will have a deductible of $183 in 2018, the same amount as in 2017.

Other changes in Part B include the following:

Beginning in 2018, most beneficiaries will pay a monthly deductible of $187 for Part B.

Medicare beneficiaries who need a skilled nursing facility stay longer than 30 days will have to pay a 20 percent share of the facility costs, up from the current 10 percent.

For beneficiaries who need a long-term care facility stay longer than a year, the share of the facility costs will increase from 20 percent to 30 percent.

These new payment amounts will be phased in over several years for most beneficiaries.

Q. What happens if I have a Medicare Advantage plan with a prescription drug plan?

A. Your Medicare Advantage plan can also be a prescription drug plan for people covered by other Medicare Advantage plans, if your current plan doesn’t offer a prescription drug plan. In that case, you would pay an average of $8.40 a month more for your Part D premium.

Medicare Part D also can be a stand-alone prescription drug plan. To be a stand-alone prescription drug plan, you must enroll in Medicare Parts A and B. However, this plan will not cover the costs of drugs under your

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The Good and Bad Side of Air Travel Insurance

Air travel insurance policies, also known as travel insurance, will cover lost baggage, emergency medical expenses, private tour cancellations, delays and many other issues that could potentially ruin your trip. They will also offer cash benefits for baggage delayed too long or luggage lost due to a break in transit. But are these benefits really worth the risk?

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The Good and Bad Side of Air Travel Insurance

Air travel insurance policies, also known as travel insurance, will cover lost baggage, emergency medical expenses, private tour cancellations, delays and many other issues that could potentially ruin your trip. They will also offer cash benefits for baggage delayed too long or luggage lost due to a break in transit. But are these benefits really worth the risk?

Saved from Escalator Accidents

There have been many cases of passengers being injured by an escalator during their trip. The biggest cause of accidents is usually a seat belt slipping out of a seat and falling over, exposing passengers to a fall.

In such cases, travel insurance will reimburse you for both your clothes and shoes, if you’re wearing them at the time. If the accident happens while you’re travelling abroad, the travel insurance will cover up to 5,000 euros (USD $5,400) for medical expenses and at least 6,000 euros (USD $6,400) for lost or damaged luggage.

Lost Cars

When driving overseas, you need to make sure you have at least basic car insurance coverage. When you are driving in another country, you need to purchase insurance for it. In some cases, car insurance policies don’t cover cars parked outside of your home country.

Travel insurance policies cover any accidents and loss of your car when it is parked in another country. If it’s your fault, you will be compensated up to 1,000 euros (USD $1,100) per day for accidental damage to the vehicle. If you get into an accident while driving abroad, your travel insurance will cover up to 5,000 euros (USD $5,400) for medical expenses, including repatriation and up to 4,000 euros (USD $4,900) for the car itself.

Payment Delay

In the event that your flight is delayed for over six hours, travel insurance will reimburse you for the expenses you have incurred because of the delay. This includes meals and accommodation, lost workdays, and accommodation for other passengers who have had to share a hotel room with you.

This benefit is limited to domestic and international flights. But, in rare cases, if your flight is stranded due to weather conditions, it is covered under international travel insurance.

Restricted Travel

Some travel insurance policies exclude specific countries and destinations that you cannot travel to due to various reasons. For example, if you have travel insurance for the US, but you’re planning to travel to China, the insurance will not cover you.

If you do get into a dispute with the insurance company, or lose the paperwork that covers you in your country, you can still challenge the claim and try to get the situation resolved. But, it’s wise to get a travel insurance that includes coverage for any restricted travel.

Lost Travel Documents

Travel insurance offers immediate access to cash to cover unforeseen expenses. Sometimes, you might need a travel insurance policy immediately to ensure you have the funds available to get back to your country. If you have travel insurance, you can easily withdraw funds to cover any expenses you might incur during your trip. However, if you’re travelling to another country, you need to consider what your local government policy will do.

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Travel insurance explained: Is it worth it?

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Travel insurance explained: Is it worth it?

Unlike credit cards, which provide a ‘free’ credit to book holidays, travel insurance policies are usually valid for three years, and cover the whole holiday.

But as part of a package, travel insurance policies include an excess which will be charged if your bill exceeds a certain amount. Travel insurance also provides the benefits and extras you would expect.

A standard policy may cover £1m of medical expenses, if you or your companions are injured. A medical evacuation could get you to safety quickly. Some policies will also pay for travel delays, delays and cancellations due to strikes.

Those travellers who prefer to do their own research are advised to look at the four-star-plus rated provider, including world specialists in trip planning, Sunroad Travel Insurance, which has won or been awarded the Travel Insurance Award.

It is a bit complicated and requires you to input details of every single holiday, but the specialist website Travel Insured has a comprehensive guide on comparing travel insurance.

This comparison site, based in Canada, uses international comparisons to compare several of the world’s leading travel insurance companies. It covers several countries, including Australia, America, Asia, Europe and North Africa, and will even back up and send a replacement passport to your address, if you are required to travel and your passport is stolen or lost in the UK or abroad.

Travel insurance comparisons are a little confusing and all the insurers have a slightly different way of explaining their policies. So here are some key questions that could help you choose which policy would be best for you:

1. Is it better to purchase an annual travel insurance policy for one year or an annual ‘standard’ cover for three years?

The first year policy would cost you £28 a year for three years, whereas the three-year policy would cost you just £4 a year. You would also have to pay an excess on each policy.

However, while buying an annual insurance policy you will have to pay annual premiums, which are more expensive, there is a discount if you pay annually, rather than up front, every year. So if you go the annual premium route, you could save money in the long run.

Another advantage is that annual insurance can be renewed on your chosen policy. But this doesn’t apply to ‘standard’ policies, which will expire unless you renew before its expiry date. It also means if you lose, damage or have a medical emergency during the holiday, you could end up in an expensive situation with out-of-pocket costs.

2. Can I renew my travel insurance policy at any time?

You can go back a year or even to the end of the policy term. But after the expiry date, your policy will end. And if you decide to travel for a third time, it is unlikely you would be able to renew your cover.

3. Is it better to have cover for loss or theft of valuables, or for the loss of the whole holiday?

This is where you might want to avoid ‘standard’ insurance policies. The excess costs can be large, although some insurance companies do offer discounts for coverage for items worth more than £500.

4. Is it better to insure against medical issues rather than the loss of the holiday?

You need to read the terms and conditions carefully to see what cover you are buying, but you will probably be able to include a major medical evacuation if you need it.

Some insurers may even cover overseas hospital treatment, or a doctor’s visit in an English hospital. This means if you fall ill overseas, your insurer will send a medical team to assist you in hospital or send you home. And if you require any further medical treatment or medicine, you will have the claim paid for by the insurer.

5. What extra cover do I need?

For many of us, a major medical evacuation or loss of the whole holiday is unlikely to happen. But some travel insurers will consider an illness or accident ‘catastrophic’, which could bring the policy in to action.

If you have a high medical premium, you could reduce this cost if you put the policy in to cover additional incidents that could happen. This might cover such things as loss of baggage, delayed flights and delays, strikes, and overcrowding. It is worth researching the various benefits and extras that different travel insurers offer.

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Why Get Family Travel Insurance?

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Why Get Family Travel Insurance?

Choosing the right travel insurance cover for a family of four is complicated, not least because there are so many different types and you need to decide what you’re looking for based on your travel arrangements. However, there are a few factors to consider.

Do you have the mainstays: the two adults and one child? If not, you need to add in family policies that cater for a second adult and a second child.

Who will be on the holiday? You also need to ask if the parents can stay in the family home while the children are away (or if this applies to teenagers who are away from home for the first time).

Are you holidaying in Europe or the US? If not, you may need to add in European covers that cover people living in Europe.

What are your accommodation needs? You can include costs for flights to the destination as part of your insurance policy. If so, you’ll also need a separate category. Many insurers cover domestic breaks. But if you travel to the extent of a separate European travel insurance.

Will you be travelling to countries where you need individual policies: such as the USA or Thailand?

Do you have children of varying ages: a ten year-old could be a child or adult, and you might need different cover, and different levels of exclusions.

What countries are you going to travel to? Is this another reason for choosing multiple policies? If so, do you buy a separate policy for the country you’re visiting and the countries you will fly to?

It’s essential to read carefully through your policies and get advice on what exactly you need.

Costs

Not every policy will cover the same things. Whether you need to pay for a single element is based on your travel arrangements. For instance, many people with children in schools get the Schools Abroad add-on.

There are also a whole range of add-ons and exclusions. For example, the Ray Collins add-on excludes some types of flights and destinations.

Compare and order

Compare the cost of travel insurance policies from some of the UK’s biggest insurers and compare cover and cover for holidays, flights, transfers, hotels, medical expenses, baggage and cruise and transfer cover.

If you don’t have travel insurance, or you don’t think you need to, you may want to consider other things to do when you’re abroad. For example, leaving more money in your bank account will help you recoup some of the cost if you should need to make changes to your travel plans.

Contact your bank or credit card provider to see if they can give you cash in advance of your holiday. This might help cover extra costs if your accommodation is in a less expensive area or if you need to pay for extra attractions or food in your local area, for example.

If you think it’s too expensive for you to purchase travel insurance, speak to your travel insurance provider to see if they can recommend other ways you can travel. They may also be able to offer some form of insurance cover at no extra cost.

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Insurance

Trаvеl Inѕurаnсе іn Cаnаdа – A Smаrt Chоісе

With insurance comes the need to apply, pay, and renew it periodically. It’s a hassle, especially if you don’t want to spend money on it.

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Travel Insurance in Canada – A Smart Choice

With insurance comes the need to apply, pay, and renew it periodically. It’s a hassle, especially if you don’t want to spend money on it.

You can search travel insurance plans by rating or price, and ensure you choose the right one.

Source: different plans available from many different insurance companies.

Additional Resource: Travel Insurance Canada

What Travel Insurance Isn’t for

One obvious misconception about travel insurance is that it’s only for sickness. While you do need to have specific coverage for things like medical expenses, that doesn’t mean you can’t take trips with a few extra dollars in your pocket. There are travel insurance policies that will take care of all the costs for you and you can sit back and relax.

Source: travel insurance is all about knowing your limits and spending wisely, nothing wrong with it.

Additional Resource: Our Comprehensive Guide to Travel Insurance

10 Questions to Ask Before Taking Out Travel Insurance

If you are seriously considering traveling overseas, you need to think about your travel insurance.

First, there are a lot of questions that you need to ask yourself about your trip and your plans. Have you got medical conditions or family issues?

Do you have a specific trip planned?

Are you carrying a lot of cash?

Do you have expensive items that you don’t want to lose?

Do you need insurance for your pets?

Once you know these answers, you can choose the best travel insurance plan to cover all your costs and keep your costs down.

It’s often not so easy to find a good travel insurance plan online or over the phone, but if you do, you can take back some control of your trips.

Hopefully these 10 questions can help you decide what travel insurance you need and get it sorted.

Travel Insurance Comparison Calculator: Choose a Plan

All Travel Insurance Plans in Canada

There are a lot of travel insurance companies in Canada, and a lot of them offer really competitive travel insurance policies. However, if you need to travel outside the country, there are different travel insurance companies and products available.

When traveling, it is very important to get a good insurance plan. In this post, we have separated the big three from the rest of the crowd to make it easier for you. These are the types of travel insurance plans you will see advertised when you search for travel insurance, usually on travel websites or cruise/sailing sites.

These are the big names in travel insurance, the type of travel insurance you’ll get if you decide to book with them.

TransCanada – The oldest and largest travel insurance company in Canada. They have been offering travel insurance for over 80 years, so it’s no wonder that they are still standing.

Luna – A family owned company that’s offering travel insurance for nearly 50 years. They have a lot of experience in travel insurance and offer a broad selection of travel insurance policies.

Travel Insurance Worldwide – Travel Insurance Worldwide (TWW) is a recognized leader in the travel insurance market. They offer travel insurance policies for a wide variety of countries including Canada, the United States, and other countries in North and South America.

World Nomads – A small family run company that’s providing travel insurance for over 15 years. They have an emphasis on the customers and the service they provide.

If you’re looking for low-cost travel insurance, you should choose one of the travel companies listed below.

Canadago – A travel insurance company that specializes in high quality, affordable travel insurance. Their products and services are designed to meet the requirements of high net worth individuals as well as business owners. They also have partnerships with travel agencies that work with a lot of high net worth clients.

Impact Travel – Impact Travel specializes in travel insurance for family and high net worth individuals. They specialize in customized travel insurance plans for short term, long term, and worldwide travel needs.

Find out more about travel insurance and travel insurance for seniors and families, if you’re traveling with someone over 65 years old.

Canadago Price Comparison Tool

When it comes to travel insurance, you should always get the lowest travel insurance policy you can. Sometimes it can be difficult to determine how much travel insurance will cost.

This is where the Canadago Price Comparison Tool comes in. It will compare travel insurance policies from different companies based on how much they are offering on travel insurance.

Also, the company will show you a screenshot of the average cost for all travel insurance products in Canada.

Canadago Insurance Claims Calculator

If you have any insurance questions related to travel insurance, this is where you can check out how much insurance your travel insurance policy will pay out in case of an accident or a medical emergency.

Using the Canadago Insurance Claims Calculator, you can find out how much an accident or a medical emergency would cost in order to get your travel insurance covered.

It also gives you the estimated costs for your treatment expenses. The tool allows you to see how much money your insurance policy will pay out for emergency treatment expenses.

Canadago Insurance Policies and their Coverage

Travel insurance is designed to cover accidental and unforeseen events. If you buy a travel insurance policy, it will cover your travel expenses should you have to leave your country and you get sick. The good thing about travel insurance is that it’s also a health insurance product, so if you need to visit a hospital and your insurance coverage is exhausted, your travel insurance policy will be able to pay for the medical expenses.

These are the typical types of travel insurance policies:

Vacation cancellation insurance (VCO)

Medical insurance

Death insurance

Loss of use insurance

Fraud liability insurance

Currency theft insurance

Travel insurance is one of the most important travel decisions you will make because it will protect your money. Before you choose the right travel insurance, make sure to read some of the recommendations from travel insurance experts and travel insurance companies, to make sure that you’re choosing the best travel insurance for your needs.

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Insurance

Hоw tо Gеt the Best Deal оn Inѕurаnсе

In most саѕеѕ, having іnѕurаnсе іѕ a rеԛuіrеmеnt rather thаn being орtіоnаl. It’ѕ dіffісult to ѕhеll out thе саѕh fоr іnѕurаnсе рrеmіumѕ аnd something that уоu might never use. However, when уоu dо hаvе it and thе unthinkable dоеѕ hарреn to уоu, you’ll bе rеlіеvеd (hореfullу) that уоu did have the іnѕurаnсе.

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In most саѕеѕ, having іnѕurаnсе іѕ a rеԛuіrеmеnt rather thаn being орtіоnаl. It’ѕ dіffісult to ѕhеll out thе саѕh fоr іnѕurаnсе рrеmіumѕ аnd something that уоu might never use. However, when уоu dо hаvе it and thе unthinkable dоеѕ hарреn to уоu, you’ll bе rеlіеvеd (hореfullу) that уоu did have the іnѕurаnсе.

Inѕurаnсе premiums ѕhоuld nоt brеаk thе bаnk, thоugh. Yоu ѕhоuld nоt hаvе tо сhооѕе between feeding your kids аnd buуіng insurance. Yоu ѕhоuldn’t have tо gеt thе wоrѕt policy either – оnе that doesn’t fullу соvеr уоu fоr whаt уоu nееd whеn уоu nееd іt.

There аrе wауѕ to gеt dеаlѕ оn mаnу dіffеrеnt kinds оf іnѕurаnсе, and іt’ѕ all gоіng to start wіth shopping аrоund. Nеvеr go wіth thе first соmраnу уоu соmе across. Hеrе’ѕ how to gеt thе bеѕt deal оn your іnѕurаnсе.

Hоw tо Gеt the Best Deal оn Inѕurаnсе

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  1. Multі-Pоlісу Discount

Most іnѕurаnсе соmраnіеѕ wаnt уоu tо uѕе thеm fоr all оf уоur insurance needs. Autоmоbіlе, hоmеоwnеrѕ, rеntеrѕ, life іnѕurаnсе роlісіеѕ, оr whаtеvеr you nееd… іf you kеер аll оf your policies wіth оnе company уоu соuld save anywhere frоm 5-20% on уоur роlісіеѕ.

You will nееd tо соmраrе thе savings wіth multірlе dіffеrеnt companies tо ѕее іf this is іn fact thе bеѕt option for уоu, еѕресіаllу ѕіnсе thеrе’ѕ such a wіdе rаngе оf possible dіѕсоuntѕ уоu саn receive by hаvіng multiple іnѕurаnсе policies wіth one рrоvіdеr.

  1. Hіghеr Deductibles

Thе hіghеr уоur dеduсtіblе, thе lоwеr your іnѕurаnсе рrеmіumѕ. Of соurѕе, thаt аlѕо means you’ll be paying mоrе оut of росkеt ѕhоuld уоu need to fіlе a claim wіth уоur insurance company fоr whаtеvеr reason.

  1. Knоw thе Rаtеѕ bеfоrе Yоu Buу

Whеn ѕhорріng fоr a home or a car, knоwіng the potential соѕt оf уоur insurance will hеlр уоu іn mаkіng the рurсhаѕе. A ѕроrtѕ саr іѕ going to соѕt significantly more to іnѕurе than a mіnі-vаn, fоr еxаmрlе.

Lіkеwіѕе, whеn іt comes tо рurсhаѕіng a home, a nеw hоmе mіght be сhеареr tо insure thаn аn older hоmе. Yоu wіll also wаnt to be aware оf where уоu purchase уоur home. Iѕ it near wаtеr оr in a flооd zone? Yоu mіght fіnd that уоu are going tо рау muсh more tо іnѕurе that home thаn уоu would a home thаt wаѕ nоt in a flооd zоnе.

  1. Ask аbоut Other Dіѕсоuntѕ

Mаnу insurance соmраnіеѕ wіll offer уоu multірlе different dіѕсоuntѕ fоr thіngѕ that wіll help dеtеr thіngѕ like thеft or burglаrу. Yоu саn аlѕо gеt discounts for being older, fоr bоth car and hоmе іnѕurаnсе.

For саr іnѕurаnсе, students can gеt gооd grаdеѕ dіѕсоuntѕ, аnd уоu саn еvеn gеt dіѕсоuntѕ fоr drіvіng уоur саr lеѕѕ thаn 12000 mіlеѕ a уеаr. It mаkеѕ sense; thе less уоu uѕе ѕоmеthіng, thе less chance of іt being dаmаgеd.

  1. Hаvе Gооd Credit

Yеѕ, іnѕurаnсе соmраnіеѕ wіll run уоur сrеdіt and bаѕе your рrеmіumѕ оff оf thаt. They fіnd thаt those wіth poor сrеdіt аrе statistically mоrе lіkеlу tо fіlе аn іnѕurаnсе сlаіm. Bесаuѕе оf thіѕ, thеу wіll rеԛuіrе уоu tо рау higher insurance рrеmіumѕ. Sоmе ѕtаtеѕ don’t allow іnѕurаnсе соmраnіеѕ to dо thіѕ to реорlе, but nоnе the lеѕѕ іt can nеvеr hurt tо hаvе a ѕtrоng credit rаtіng.

Saving money on your insurance is going tо bе аll аbоut ѕhорріng аrоund, just lіkе уоu wоuld fоr any оthеr big purchase уоu make іn уоur life. This is important to protect those big рurсhаѕеѕ іn уоur life, ѕо don’t ѕkіmр. Find wауѕ tо gеt dіѕсоuntѕ, and dоn’t bе afraid tо switch companies іf оnе wіll оffеr уоu better rаtеѕ than аnоthеr.

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