Is there a Glossary of Travel Insurance Terms?

Age limit - most insurance companies have a maximum age for which they will give a quote. Should you be older than this limit, you should call the insurer.

Annual Multi-Trip - This is where you are given cover for a full year for an unlimited number of trips. Some insurers do actually set a limit on the number of days in total you can be covered for traveling in that year.

Excess Waiver - The excess is an amount which you need to pay of each claim. For a small additional premium, this excess can be waived.

Hazardous Activity - There are some activities, which may be sporting or could be other things, which insurers may feel are hazardous, and increase their risks and thus your premium.

Maximum Length of Trip - for single trip insurance this is the longest trip for which you are able to get a quote. For annual insurance this is the longest trip length you can get a quote for, not the number of trips you can have in a year.

Money Back Guarantee - This is also known as a cooling off period, and usually lasts for between about 10 to 14 days. Should you decide in that time that you don't actually want the policy, you can return it to the insurer as long as you haven't made a claim on it and it is before your date of departure.

Multiple Quotes - Some sites allow you to select the best quote from a selection of insurers, so you don't just choose from one quote.

Order Online Travel Insurance Sites - Although you are able to pay for travel insurance by credit card, your payment isn't cleared online, as that makes it less secure.

Pre-existing Medical Exclusion - If you have been diagnosed with a medical condition at the time you are buying a policy, you are unlikely to be offered cover for it. If you are offered cover, it may be subject to an increased excess. You should check this section very carefully indeed if you are pregnant.

Policy Details - Sometimes you will only be offered summary details on the policy and will have to contact your insurer to get full details.

Quote & Buy Online Travel Insurance Sites - These services allow you to get a quote and buy completely and securely online.

Quote Online Travel Insurance Sites - You can receive a quote online but in order to make an actual purchase you will need to contact the insurer.

Single Trip - This is travel insurance which specifically covers a single trip.

Winter Sports Cover - includes sports which are normally carried out specifically during the winter, like snowboarding, skiing and ice-skating. You need to make sure you are covered for these if you are partaking in them.

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

Copyright

Is there a Glossary of Travel Insurance Terms?

© AskFinancially.com 2008

Travel Insurance

Insurance & Loans

Copyright