There’s probably many blog posts out there that give great advice on travel insurance, however, in an effort to improve my writing, I’ve thrown together this travel insurance guide. Since my focus is on Southeast Asia, I am talking about international travel insurance but, but it can apply to domestic as well.

Travel Insurance Costs: should I buy travel insurance?

Short answer, YES. In general, travel insurance should cost anywhere from 4 percent to 10 percent of your total pre-paid, non-refundable trip cost. For insurance, if you purchased a trip with a total cost of $4000, the cost of your travel insurance should be in the price range of $200 - $400 depending on a couple of variables –age of the travelers, number of travelers, length of travel and the type of coverage. So, if you can’t afford to buy travel insurance, you can’t afford to travel. There are many reason why you should buy a travel insurance, but the main reason is the basic fact that you could get sick or injured during your trip. For example, you and your friends have planned a hiking trip to climb Machu Picchu since your high school day. After your first night in Lima, you wake with a severe stomach pain and high fever. Even though, you bought that hiking package, you cannot hike, as you need emergency medical care –and quick. With travel medical coverage, you won’t be paying a huge medical bill due to this unexpected medical emergency. You don’t want to be hurt or sick in a foreign country without medical support. Have a quick google search for stories of people who didn’t have travel insurance, and remind yourself, there’s a time and a place for being cheap, and travelling is not one of those time. Don’t take the risk.

For more information about coverage, or travel adviseries, visit: US, Canada.

For me, this UK government info-graph says it all.

There’s Travel Insurance, and Medical Travel Insurance, what travel insurance should you buy?

I am not sure about Australia or Europe, but in North America, there’s an option for travel insurance and/or medical travel insurance. Medical travel insurance is a must when travelling because as mentioned above, a simple accident or illness could cost a lot of money. However, regular travel insurance such as flight cancellation, lost baggage etc., are not important, and is something I never get, unless I am carrying more than $5,000 worth of camera gear.

Note: If your company has a multi-trip policy that covers you for both business and personal travel, DO take advantage of it.  Some credit card have travel insurance coverage, DO read the conditions and take advantage of it –usually you must purchase the flight using their credit card. If your credit card do not have travel insurance, or you don’t have a credit card, or your trip is longer than 1 month, check out worldnomads or insuremytrip. Compare more than 25 providers based on criteria you enter for your trip. It is very comprehensive, and you can quickly narrow things down to things that matters most to you –medical only, or other specialty coverage.

Here are a couple things to look for when purchasing travel insurance:

1. Medical Limits: It should be at least 2.5 million, or ideally, unlimited.
2. Reimbursement of emergency medical treatment costs –including hospital charges, ambulance fee and return flight if you cannot use your original ticket.
3. Activity Coverage: Check that it covers you for water activity, hiking activity or any activity you are planning on partaking during your trip. For example, riding tuk tuk or scooters in Phnom Penh might not be covered as they are considered an unsafe activity. Check for any motor insurance fine print.
4. Individual Item Limits –the payouts the insurance company will give for individual items. Make sure the cap is a reasonable amount for the items you are taking oversea -that it is enough to cover your expensive camera equipment or laptop as some insurance cap out at $100.
5. If you have any pre-existing medical conditions, check that they are covered as well, there is usually an extra fee.
6. Clauses and Conditions: Please read them carefully, they’re as boring as two nuns in a bar, but as the saying goes, better safe than sorry. For example, in some clause, you may not be covered if you leave your stuff in the backseat of a car rather than in the trunk. I can’t say this politely enough, please read the damn fine print.

Buying Travel Insurance: Best Insurance for a trip

Like finding car insurance quotes, make sure you get at least ten different quotes from different companies. Don’t be scared into buying the first travel insurance you see. Use comparison sites like worldnomads or insuremytrip to get a bunch of quotes instantly. Google travel insurance, read some reviews on your insurance company, and see if people had problems claiming –remember google is your best friend. If you do a few trips per year, consider buying a multi-trip annual policy as it usually works out cheaper. Personally I use my credit card travel insurance as I usually buy my tickets on credit card.

If you do not have a credit card, and is shopping for the best travel credit card, visit these sites to see ranking and reviews:

Best Travel Credit Card Rankings in Canada For 2017

For USA residents, visit nerdwallet.com to see the Best Travel Credit Cards of 2017 in the USA.

Final Note

Keep a copy of the emergency numbers of your insurance company, your policy number and any other important documents on your person or in your suitcase. Hope you guys enjoyed my short guide to buying travel insurance. If you have any good or bad experiences with your travel insurance company, please comment below.