How to save on travel insurance | Tech US News

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HARTFORD, Conn. (WFSB) – All month long, Channel 3 is sharing ways you can save money in a challenging economy.

The I-Team has been looking at how you can get savings through your insurance.

She’s got expert advice if you’re thinking about travel insurance.

Kyle McDougald and his family love to travel.

But his most recent trip to Mexico had some bumps.

They missed a connecting flight in Philly.

“When we got there, the flight was already blocked and loaded so they had to pay for us to stay in a hotel,” says Kyle McDougald.

Then flying back to Connecticut, his luggage was damaged.

It was the family thinking of taking out travel insurance for the first time.

“Next time, we think we’ll be safe,” McDougald says.

If you’re like McDougald and thinking about getting travel insurance: Here are some things you should know, according to Consumer Watchdog’s Carmen Balber.

“The only time it really makes sense to buy travel insurance is if you’re going on an expensive holiday abroad where you have to pay in advance for your hotels, your travel, your excursions, etc. And there’s a chance you’ll lose that money,” says Balber. “Putting an extra $50 to protect your $250 flight to Denver, when at least the airline is going to give you a credit for that amount, doesn’t make that much sense.

Experts say, avoid buying insurance on booking sites.

Often, you’re so focused on booking the trip that you’re not paying attention to the fine print.

Booking sites often make a deal with an insurance company and you want to be able to have multiple options.

Don’t assume that cheaper means bad coverage.

Policy rates are not regulated across the board, so sometimes you may see two plans with the same coverage and one will be twice as expensive.

Shop based on the coverage you need, says Balber.

That’s why it’s more important to learn more about the types of travel insurance out there, says Loretta Worters with the Insurance Information Institute.

Trip cancellation is quite simple.

“What it does is reimburse you in certain circumstances that prevent you from taking your trip,” says Worters.

14:55:05 a cruise line or tour operator goes bankrupt or has to cancel the trip due to illness or death in the family.

But it only insures travel costs that are non-refundable and prepaid, according to covertrip.com.

You will not be reimbursed for travel costs that are reimbursable, so insurance for reimbursable costs would be a waste of money.

Travel exemptions are usually the same, Worters says.

A waiver allows customers to change their itinerary without a fare difference. They are often used for flights.

“There are a lot of restrictions and they generally have to be purchased at the time they’re booked. They usually don’t charge you right before departure, which is when most people cancel, or after they’ve started their trip,” says Worters.

You don’t necessarily have to pay for baggage insurance or personal effects coverage, which only covers you if your baggage or belongings are stolen, damaged or lost.

This is because many airlines or tour operators already offer coverage.

“Also, check your homeowner’s or renter’s insurance policy because they will usually provide coverage for off-premises theft,” says Worters.

Before paying emergency medical expenses, which cover costs related to a medical crisis, check with your health insurance company.

If you buy emergency medical coverage, don’t overinsure. You don’t need to have crazy amounts of coverage to cover, Worters says.

The same goes for accidental death travel insurance, it may already be covered by your life insurance policy.

“You don’t want to duplicate something you’re already paying for,” Worters says.

Last but not least, as always shop.

For frequent traveler Michele Gregory, her travel insurance options have always been worth it.

“I got it a couple of times and really used it,” says Gregory.

But it might not be the right choice for you, so always know what you’re paying before your savings disappear.

The I-Team also looked at how to save on home and auto insurance.

Here are those tips:

OWNER’S INSURANCE

CAR INSURANCE

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