If you’re gearing up for the adventure of a lifetime, administration like vacation insurance might be the last thing on your mind. However, it’s extremely important to remember that sometimes, vacations aren’t plain sailing. Hitting the road without insurance is a big mistake – and if you’re not covered, you could end up in a lot of financial trouble. So, before you head off on your adventure, make sure you’re prepared. In this article, we talk you through what makes a good insurance policy for your vacation in South America.
Why do you need vacation insurance?
Many people are so excited about their trip they forget about vacation insurance. However, if you’re traveling abroad – particularly to somewhere like Latin America – insurance is crucial. Your travel insurance isn’t only for medical expenses: it can also help you if you lose your bags, if your flight is canceled, or if you’re robbed. Some people think it’s unlikely to happen to them; however, if you ask around, it’s likely most people will have a story. If you figure out the average cost per day – which is usually around $1 – it’s well worth the investment.
Looking for the right policy
Purchasing insurance can be pretty confusing, especially when there’s so much choice out there. With so many options, extras, and fine print, some people can end up feeling pretty lost. Furthermore, if you’re traveling on a budget, it’s likely you’ll want to get a policy that represents value for money whilst giving you the cover you need. Below are nine things to look for in comprehensive, low-cost vacation insurance.
- This might seem obvious, but it’s essential to make sure the policy covers the countries you are visiting. Many companies will have different policies depending on the region.
- A minimum of $1 million of medical cover.
- Cover for lost, stolen or damaged possessions, luggage and travel documents.
- The option to include cover for valuables like your laptop, tablet or cellphone.
- At least $1 million personal liability insurance in case you injure someone or cause damage to their property.
- Repatriation to your home country in the case of serious illness or injury.
- A minimum of £1000 cancelation cover so that you can get home quickly in the event of an emergency.
- Cover for any legal expenses.
- A 24-hour emergency helpline.
Remember: Always read the fine print
Before purchasing your vacation insurance, it is essential to read the small print. For instance, many insurance packages don’t automatically cover extreme sports. Some companies will even classify hiking as “extreme” so make sure you thoroughly read and understand the terms. For an extra premium, you can usually add these activities to ensure you’re covered. Furthermore, many policies don’t include valuables as standard. Alternatively, the excess may be very high. Ideally, you should pay a little more to make sure your electronics are covered with reasonable excess. Finally, many insurance policies will be void if you’re injured whilst under the influence of alcohol – so enjoy those pisco sours responsibly. Bon voyage!