Insurance policies, whether heath, autos or homeowners are all base on risk valuations and ratings based on predetermined factors. However, there is a set of differing rules used in calculating travel insurance premiums that set it apart from other forms of insurance.
Some common factors such as age, gender and credit card reports may be used to determine whether an applicant is qualified to hold an auto insurance policy or the amounts to pay as premium from most auto insurance companies, but when obtaining a travel insurance policy, such factors are given little or no considerations depending on the policy and cover. While a typical travel insurance policy is may be diverse with different options and package, it's risks are calculated based primary on geographical destinations. Traveling to destinations such as Libya in the Northern African country will definitely attract a higher premiums from most firms as this region has been politically unstable in recent times and risks being a target points for terrorists. while traveling to places like Zurich or many parts of Europe will attract very
premium.
Also, a traveler going to a place such as Rwanda in East Africa may have to consider buying a medical policy with maximum cover for all types of emergencies as the country has a limited medical facilities and risks being transported out of the country by air under a serous health condition."While air travel has the safest record, compared to other modes of transportation s, the safety records or history of the particular airline to be flown by the passenger can also be a determining factor when purchasing covers for injury, death or loss of personal possessions and belongings.
Other factors includes, adventure tours by a group of people or individual such as parachuting, swimming competitions, wrestling, boxing championship, scuba diving, car racing etc For the seniors.who want to purchase a medical cover, age and medical report are a must when determining the premiums, more so when the applicant is diagnosed with a terminal ailment and some cancer patients have had their applications declined.
The bottom line is when traveling, make sure you take the time to consider different insurance policies from more than one insurance company so you could purchase a cover that you will likely need while skimping over those you might never need, though this might be difficult at times.
Some common factors such as age, gender and credit card reports may be used to determine whether an applicant is qualified to hold an auto insurance policy or the amounts to pay as premium from most auto insurance companies, but when obtaining a travel insurance policy, such factors are given little or no considerations depending on the policy and cover. While a typical travel insurance policy is may be diverse with different options and package, it's risks are calculated based primary on geographical destinations. Traveling to destinations such as Libya in the Northern African country will definitely attract a higher premiums from most firms as this region has been politically unstable in recent times and risks being a target points for terrorists. while traveling to places like Zurich or many parts of Europe will attract very
premium.
Also, a traveler going to a place such as Rwanda in East Africa may have to consider buying a medical policy with maximum cover for all types of emergencies as the country has a limited medical facilities and risks being transported out of the country by air under a serous health condition."While air travel has the safest record, compared to other modes of transportation s, the safety records or history of the particular airline to be flown by the passenger can also be a determining factor when purchasing covers for injury, death or loss of personal possessions and belongings.
Other factors includes, adventure tours by a group of people or individual such as parachuting, swimming competitions, wrestling, boxing championship, scuba diving, car racing etc For the seniors.who want to purchase a medical cover, age and medical report are a must when determining the premiums, more so when the applicant is diagnosed with a terminal ailment and some cancer patients have had their applications declined.
The bottom line is when traveling, make sure you take the time to consider different insurance policies from more than one insurance company so you could purchase a cover that you will likely need while skimping over those you might never need, though this might be difficult at times.
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