Cut and save: Everything you need to check to reduce travel insurance
Cut Costs on Travel Insurance: Key checks for reducing expenses - ensure your holiday coverage is cost-effective and comprehensive. Save on your next trip!
By MEITAL SHARABI A man buys a plane ticket (photo credit: INGIMAGE)
According to estimates, despite the security situation, the people of Israel are expected to go on vacation abroad en masse during the upcoming Tishrei holidays. After the tickets have already been ordered, one of the most important things left to do is to choose insurance for the trip.
Despite the importance of insurance, most people do not check and compare the various coverages offered by travel insurance policies abroad. The insurance consists of various sections such as rescue detection, medical coverage, flight cancellation/shortening coverage, baggage and more, which affect the price and scope of coverage.
According to data from the insurance comparison and buying website Wobi, you can see a gap of over 40% between the cheapest offer and the most expensive offer in the price of travel insurance abroad. To save hundreds of shekels on trips abroad during the holidays, these are the sections you must know.
In checking the website, between 5 different insurance companies, there is a large difference between the prices of the policies for the same coverages. On the flight to Thailand for example, there is a gap of 43% between the cheapest offer and the most expensive offer for the same covers. On the flight to the USA the differences are 28% and on the flight to Greece 25%. Hence, in a simple comparison between the various offers, a family can save hundreds of shekels on the policy on each vacation.
The fine print and the covers you need to know
Beyond the cost of the insurance, it should be noted that the policy includes the appropriate coverages for our needs and the nature of our trip. Whether it is a trip with a laptop that we want to cover or a trip that includes extreme sports. In addition, in the last year there was a 50% increase in Israelis purchasing flight cancellation/shortening coverage. What are the different clauses and in which cases do they protect us?
(credit: MAARIV)Flight cancellation/shortening - is it relevant to Order 8?
As mentioned, in the past year there has been an increase of about 50% in the choice of Israelis to purchase flight cancellation/shortening coverage. This coverage is valid in cases of death or a serious medical event of the insured or for the first close or damaging event that took place in the insured's home, such as fire, flood, malicious damage by another, and more. In addition, the section is valid in cases of Order 8. For example, if a family of a couple and two children flies to London and one of the parents receives Order 8, the entire family will receive a refund for all flights - these are refunds that can reach thousands of dollars.
Regarding this section, it is important to note that in the event of a flight cancellation due to war, the refund for the flight will come from the airline and not the insurance company, while as far as hotels are concerned, in a situation of concern we recommend making a reservation in advance with an option to cancel. In addition, in the event of a flight cancellation by the airline, you can cancel the purchased insurance policy and receive a full refund for it. Suitcase packing, illustration (credit: INGIMAGE)
Search, rescue and rescue coverage
Intended to provide life-saving services in the event of an accident or incident in a dangerous area, requiring rescue, locating or medical treatment.
Baggage insurance
Today baggage insurance coverage is considered mandatory for every trip. In the event that the luggage does not arrive on time at the destination, or in case of theft or loss of a suitcase during the trip, the coverage allows immediate financial compensation. The compensation amount will be received according to the insurance conditions determined by each insurance company separately. It is worth noting that the coverage does not include the theft of electronic equipment such as a laptop, camera, tablet and cell phone, for which separate coverage must be purchased.
Extreme sports
Adventure sports insurance provides medical coverage in case of physical injury during adventure activities such as ATVs, rafting, tubing, banana, bungee and other activities. It should be noted that most insurance companies do not insure women in advanced pregnancy with this coverage, so you should look for an insurance company that also covers this if required.
In addition, one should pay attention to the speed of receiving reimbursements from the insurance in the event of the need to cancel or change travel plans due to a medical or other problem, the speed of the insurance company's response can be the difference between a smooth process and a complex and complicated experience.
Keren Lubinski Doron, main signatory at Wobi: "When purchasing travel insurance abroad, you should pay attention to the cost of the insurance, the amount of coverage, the amount of deductibles, matching the coverages to the specific needs relevant to the nature of our trip and the ease of operation of the insurance. At the same time, it should be noted that there can be significant changes between the insurance companies in the basic cost and in the extensions. That is why it is also important to examine the existing covers and make sure that they do provide adequate protection for emergencies and potential risks at the travel destination. In order to get the most appropriate offer, it is recommended and possible to make a simple and quick comparison between the different companies using digital tools."
