Buying travel insurance is usually one of the most complex steps in planning a trip. Maybe that’s why this is such a hot topic and people ask us so much: Is Travel Insurance really worth it? What’s the best international Travel Insurance? What kind of travel insurance do I need? Travel insurance or medical travel insurance?
These are questions that we always had and since we know we are not alone, we decided to write this article to share our experience, clarify these and other doubts on the subject and also to explain why we chose and recommend with so much confidence Iati Seguros.
We believe so much in Iati’s insurances that we arranged a 5% discount on any insurance for all our readers! Follow any link in this article and the discount will be applied automatically. When you are saving you are also helping us. Thanks for the trust! Any question or doubt, don’t hesitate in contacting us. 🙂
- What is travel insurance?
- Is travel insurance really needed?
- What’s important in travel insurance?
- The best international travel insurance: 10 reasons
- How much is travel insurance? Quote example and comparative table
- What’s the best travel insurance for you?
- Travel Insurance and Coronavirus (COVID-19)
- Frequent questions and answers (FAQ)
What is travel insurance?
Travel insurance is like a temporary health plan that is intended to cover expenses such as medical interventions, travel cancellations, loss or theft of valuables, transportation or emergency rescuers, etc.
Some countries do not allow visitors’ entrance without travel insurance – Cuba is an example.
Source: Visa policy of Cuba
Travel insurance is one of those things that you are happy to never use. However, accidents happen and health problems are impossible to predict! Bad scenarios can also happen and you can be the person who needs a helicopter evacuation from the middle of nature in Thailand or surgery in Japan or even that person who loses technological equipment in a bus in the middle of Colombia. Having travel insurance is what decides between having any of the problems solved with one phonecall only or potentially thousands of euros to pay and a situation of big stress!
Is travel insurance really needed?
This is the key question. Ultimately it is a personal decision and depends on the trip. Even though we hear a lot of horror stories here and there, on our first trips we always opted not to buy insurance like many other travelers.
For our big trip to Asia we re-thought the subject. Not knowing very well what we were doing, we probably bought the cheapest insurance in the market, which had a € 100 excess.
“Excess?! What is the excess?”. If this was your reaction, relax, because ours was exactly the same! Basically, the excess is the minimum amount of the expense for the insurance to take full responsibility.
“If you can’t afford Travel Insurance, you can’t afford to travel.” – Department of Foreign Affairs and Trade of Australia.
In 8 months in Asia, we went to the hospital more than 10 times for several (not very serious) reasons. Every time, the expense was never big enough to activate the insurance, but in total, we spent a lot of money! The cheapest insurance in the market became expensive.
With this, we conclude two very important things:
- We will never travel without travel insurance again, nor do we advise anyone else to do so.
- WE NEED TO CHANGE TRAVEL INSURANCE !!
What’s important in travel insurance?
With all our adventures, going to the hospital and constant contact with our last insurer, we ended up realizing what to value in travel insurance and which characteristics to look for when buying one.
Insurance with low or zero franchise and high medical coverage were mandatory. In addition, we were looking for flexible insurance that suited our unpredictable life, good customer service (taking into account variable time zone), and coverages for radical activities that we love to do.
More than 70% admit that they do not have the capacity to bear an expense of € 10,000, or a family member, abroad. An appendicitis in the US can cost more than € 25,000. Source: Health Cost Helper
Then, when we came back from Asia, we found Iati Seguros, which not only meets our criteria but also has many other perks at prices we never thought would be possible!
The best international travel insurance: 10 reasons
With our experience, we can safely say that Iati has the best travel insurance we know. You can have travel insurance in a few minutes with the most affordable prices in the market, and when necessary, they are fast and efficient!
Iati offers a 5% discount on any travel insurance to all TravelB4Settle readers. Enjoy!
This is what we like most about Iati’s insurances:
1 – Insurance specialized for travelers
Iati insurances are specially designed for travelers and adventurers and not just a convenient extension of a health plan.
2 – No Excess
Iati Seguros cover the expenses from the first euro! Buying insurance is the only cost you will have.
3 – No cash upfront
Many insurances cover expenses, but the payment is made upfront by the customer and then is refunded. This results in bureaucracies and waiting times. With Iati there is no cash upfront!
4 – The most important coverages
Medical expenses, repatriation, family transportation, legal issues, emergencies, luggage, documentation and cancellation insurance option (hotels, flights, etc.)!
5 – High medical coverages
Iati insurance plans have medical coverage ranging from € 30,000 to € 250,000 depending on the insurance chosen.
6 – Any type of trip and activities
From weekend getaways to 1-year trips, trips through land or sea and over 50 radical activities!
7 – 24/7 Customer Service
Iati Seguros has a 24-hour support center available 365 days a year in several languages!
8 – Equipment theft or damage
Iati covers up to 50% of the insured amount on all luggage, which is sufficient for most cases.
Scary fact: It is estimated that there are more than 6000 daily robberies by pickpockets in Barcelona during the high season! Source: Bobarno.com
9 – Possible cancellation insurance
For a little extra, you can add cancellation insurance to every plan for coverages for accommodation or flight cancelations.
10 – International and flexible coverage
Iati has insurance for travelers traveling to a single country, Europe in general or worldwide!
Later in this article, we present the different insurance options available.
Check all resources we use and recommend on our Resources Page.
How much is travel insurance? Quote example and comparative table
The image below is an example of an insurance quote for a 10 day trip for a person to Thailand with Iati. The different plans have different conditions, explained below!
Below is the comparison of travel insurance from a couple of different companies with 2 Iati plans, for the same 10-day trip to Thailand for one person.
|Allianz||ERV||IATI Basic||IATI Backpacker|
|Repatriation / Family transportation||Limited||Not limited||Not limited||Not limited|
|Theft or damage of luggage||300€||2.000€||500€||1.500€|
|Search and emergency rescue||No||3.000€||No||15.000€|
* – Price already includes the 5% discount offered to all our readers.
Note: There are other Iati plans that were not included in the comparison. The same applies to the other insurers.
What’s the best travel insurance for you? – Different plan
Iati has insurance for all types of travel and for all types of destinations. You can find more detailed information on this link but basically these are the plans:
The cheapest travel insurance on the market, designed for short holiday trips or short breaks to nearby destinations lasting up to 30 days. Medical coverage up to € 30,000 and other basic expenses.
The ideal insurance to travel to European countries or Southeast Asia and for trips longer than 30 days without radical activities. Medical coverage up to € 80,000 and other essential coverages.
One of the biggest medical coverages in the market for countries like the USA, Australia and Japan where health costs are high. Medical coverage up to 200,000€ including radical activities.
Specially made for backpackers and adventurers who travel the world without knowing where they are heading or for how long. Ideal for adventure sports. Medical coverage up to 100.000 € with radical activities and search and emergency rescue included.
Designed for the peace of mind of families with children. It has medical coverage up to 80.000€ with specific covers to protect children such as pediatric helplines.
Follow this link and you get an immediate 5% discount on any Iati travel insurance!
Travel Insurance and Coronavirus (COVID-19)
At the end of 2019, an outbreak of a highly contagious virus that had never been identified in humans occurred in Wuhan, China. This virus, the COVID-19, better known as coronavirus, has already infected tens of thousands of people in more than 150 countries and caused several thousands of deaths worldwide.
With this, many doubts and questions about travel insurance appeared and we, as Iati Seguros’ ambassador, are happy to clarify:
Do travel insurance cover medical expenses in case of infection with coronavirus?
Yes! Any Iati travel insurance plan covers medical expenses in case of infection with the coronavirus (COVID-19). Valid for any part of the world.
In what situations can Iati plans with cancellation be activated and travel expenses reimbursed?
On March 11, the WHO (World Health Organization) declared the state of a pandemic. Pandemic is an exclusion clause for every insurance plan with cancellation so no cancellation charges will be covered by any Iati insurance plan.
Are quarantine expenses covered by travel insurance?
Yes, expenses in case of medical quarantine are covered. In the case of preventive quarantine (suspected cases) nothing is covered.
Do Iati insurance cover expenses for extended stay because of quarantine?
Only IATI Star and IATI Premium Star insurance plans cover “Travel extension due to natural catastrophe”. In this case, accommodation expenses are covered for a maximum of 10 days.
Frequent Questions and Answers (FAQ)
Travel insurance or travel assistance?
These are two different concepts but have been somewhat unified. In travel insurance, the expenses are paid by the insured and this is then refunded. In travel assistance, expenses are paid directly by insurance. With IATI Seguros expenses are directly paid by them!
Travel insurance or medical travel insurance?
Medical travel insurance only covers medical expenses. Travel insurance covers medical expenses, repatriation, equipment theft or loss and possibly cancellation costs.
Is Credit card Travel insurance enough?
Some credit or debit cards include health insurance. Pay attention to these insurances. These insurances are not specially made for travelers like Iati’s is. Often it has difficult conditions to meet to have the expenses covered.
Does it cover Ski or Snowboard?
No, it doesn’t. Most travel insurances don’t cover these winter sports and the ones that do, don’t have other basic coverages such as baggage, technological equipment or even basic health coverages. If you pretend to include these sports on your trip, our best recommendation is to get an IATI insurance and then get additional insurance on the ski resort which normally costs only a few euros per day.
Iati offers a 5% discount on any travel insurance to all TravelB4Settle readers. Enjoy! When you are saving on your travel insurance you are also helping us. Thank you for your trust!
Hopefully, this article helped you and clarified all your travel insurance doubts. If you still have any questions do not hesitate in contacting us.
If you found this article useful, leave us a comment! If you think this information would be useful for any friend of yours, share it! You’ll be helping him/her and us!
Matilde and Miguel.