Archive

Posts Tagged ‘travel’

Most Common Variables Considered When Calculating Travel Insurance Rates

June 23rd, 2017 Comments off

Travel Insurance is a form of limited or special situation insurance that covers loss arising from a specific event. This could be flying in an airplane or riding in a train. The policies are based on the behavior of a group of individuals engaged in an activity and the likelihood that a loss will occur.

Travel Insurance is rated based on the occurrence of a loss as it affects a group of common interest, such as airline passengers. This differs from individual coverage, which rates the risk of loss occurring based on the personal preferences and habits of the insured. It would be difficult to use individual underwriting standards such as age and health status to travel insurance since not everybody flies in an airplane.

Group insurance factors in the community experience of the group as a whole in order to access the probability that loss will occur. Community experience factors can include the number of air disasters in a given region, or in a given year, or by a given carrier. When assessing loss exposure on a group basis it is easy to discern certain trends and patterns regarding the chance of loss. Since air travel is deemed safe with air disasters occur very infrequently (roughly 1 in 2.5 million), the rates for travel insurance is very low.

If you accept that activities such as air travel are safe with a low probability of occurring, why the need to buy travel insurance? Insurance is about something not happening, as oppose to a loss occurring. Insurance provides a way to restore value in the event of a loss and for some, having the piece of mind that some benefit may be available may be important.

Travel insurance policies are typically issued in kiosks at an airport. It may also appear as a rider associated with a credit card or to a person’s property and casualty indemnity coverage. However it is purchase, the benefit provided is a low amount of coverage, maybe no more than $25,000 (although a few higher death benefit policies exist). This is done based on the community experience-rating factor that looks at the incident of death or dismemberment occurring based on the chance of an airline disaster.

How old you are, how physically fit you may be, whether you smoke or not, are all rating factors or variables that are not important to issuing travel insurance. None of those factors has an impact on a plane taking off and landing and the likelihood that a crash will occur. That the instances of plane crashes are so low suggests that very limited factors need to be considered when pricing travel insurance.

Insurance is based on a concept of risk transfer. This means that the individual pays a premium amount that insures that if something were to happen, the insurance will provide a benefit to compensate the policy’s beneficiary. The amount paid in premium is low relative to the potential benefit that is paid. The insurance company rates the potential for loss and prices its policy accordingly so that it is able to pay if that loss occurs. The higher probability that a loss can occur means a higher premium. Applying group underwriting principles to travel insurance helps provide a product that is low cost and pays a uniform benefit.

About the Author:

Backpacker Travel Insurance C v

June 2nd, 2017 Comments off

If you are a backpacker travel insurance needs to be at the top of your agenda when organising your backpacking adventure. Backpacker travel insurance is usually excellent value and will afford you the most needed cover at more general and affordable levels than other travel insurance packages so that you can go backpacking around the world without worrying about the costs that illness or accident might incur without paying an arm and a leg for your insurance.

Backpackers tend to travel on a tight budget and backpacker travel insurance accommodates this due to its great value for money. Backpackers also tend to find accommodation on a tight budget which often means that the accommodation is either not in the best condition or could be situated in a less desirable location than other more expensive accommodation. That is what backpacking is all about but that doesn’t mean that backpackers need to fear for their belongings because backpacker travel insurance will insure loss and theft of personal items while you’re on your adventure regardless of the area you stay in or the number of stars that your hotel boasts.

Backpacker travel insurance is usually inclusive of illness and accident cover, cancellation of flights insurance, damage or loss of personal items cover, often cover for those partaking in extreme sports and medical cover too.

Backpacking can also be more unpredictable as the more carefree and often younger backpacker tends to be less choosy about the quality or mode of transport that gets them from A to B. Hitch-hiking (whilst not recommended in many areas) is very popular and certain precautions should always be taken, this doesn’t guard against the unpredictability of it.

Budget air travel and land travel are a priority to the backpacker and sometimes this can mean a longer journey and more stations leaving the backpacker, once again, open to more unforeseen circumstances. Backpacker travel insurance is the affordable and smart way to protect you from unexpected travel issues.

Backpacking is a unique way to bond with locals and get an insider’s view into a city. Backpackers are exposed to more realistic aspects of life in foreign cities and this enriches their travel experience and makes living on a tight budget well worth it. Backpackers, however, should certainly never leave home without sorting out their backpacker travel insurance.

About the Author:

The Benefits Of One Way Rental Cars

March 29th, 2017 Comments off

One-way rental cars are an important thing to consider when planning a long travel and a lot of vacationers as well as business travelers are in agreement with this. One way rental cars are also a good choice for individuals as well as families that are moving out of state.

There are many perks to one way rental cars such as discounts and flexibility. Mileage restrictions are also often eliminated with one way rental cars.

Sometimes it is not feasible to drive a round trip. This is where one way rental cars can come in handy.

One-way rentals also come in easy for people who want to have a road trip, but they don’t have time to drive both ways. Renting a car and then flying home allows travelers to have more extra days of holiday.

A lot of rental car companies offer greatly discounted rates, so that financial savings are inevitable with one way rental cars.

Vacationers will have extra money to spend on their trip by saving some money on their car rentals. This makes car rentals inexpensive for business travelers as well as vacationers.

Flying by airplane can be stressful at these days to say the least. Increased security restrictions since recent terror attack in the United State have made for long lines at the airports.

One-way rental cars save the time as well as hassle of having to go through airport security, purchase your tickets, check your luggage, and board a plan. All you have to do with one way rental car is get in the car and then drive!

Traveling by minivan, truck, or car is also a fantastic way to see the sights during your trip. You will enjoy roadside diners, visitor’s centers, and the opportunity to get out and stretch whenever you please.

Another benefit to choosing one way car rental is saving the odometer on your car. It is important that we keep our cars up to date a well maintained so that they will last a long time. You could save hundreds of miles on your car by choosing to use a rental car.

Rental cars are also great because they come with roadside assistance. This means if you should break down the rental company will pay to have the car towed and they will see to it that you get another rental car to replace your previous car immediately.

If you have a plan to take a trip soon, you should defiantly consider choosing a rental car, since one way rental cars can save you a lot of money.

About the Author:

Health Insurance For Visitors For Abroad

March 26th, 2017 Comments off

Travelers often assume, wrongly, that their existing health insurance coverage will extend to foreign nations. In most cases, this is not true and international travelers need additional coverage during their stay. Health insurance for visitors is a sensible and responsible investment for travelers.

Health insurance companies do not typically cover sickness abroad because the providers are out of their designated network. In addition, many companies may view some parts of the world very dangerous to visit. They typically would like to avoid paying for unnecessary claims and services.

Another common excuse for some reason for not acquiring medical insurance for visitors is that one does not need it. Perhaps they are only going to be abroad for a few days, and in a very safe area. Nothing could go wrong. Well, it can, many travelers experience an unexpected and expensive illness or medical emergency.

Often times, visitors do not realize the importance of visitors medical insurance until an accident or illness has already struck. These kinds of unforeseen problems can not only ruin a vacation, but also dramatically deplete a person or families? finances. This is why it is so important for travelers to protect themselves with visitors insurance.

Visitor medical insurance is valued because of its covering of the unexpected, such as a heart attack or stroke, which can happen in even the safest of nations. When such tragedies occur, the insurance insulates the victim from the potentially unmanageable costs that result from such illnesses and guarantees their being able to afford treatment.

Common illnesses such as the flu or emergencies like a car accident may also happen while traveling. Visitor health insurance will help prevent the cost from ruining a traveler?s vacation and pocketbook. Some minor conditions may also allow travelers to continue with their trip after receiving the proper medical attention.

International travelers stand to gain the most from visitors insurance. Varying costs and levels of care across the world can be confusing and scary, and the proper policy will help to prepare for any unexpected issue.

Just like people would not go without health insurance in their own countries, one should not risk, taking a trip to another country without medical insurance for visitor. Visitors insurance is important and necessary for all travelers who visit places abroad.

About the Author:

Dont Try to Sell A Timeshare Without Knowing These 9 Things

February 6th, 2017 Comments off

#1 This is the golden rule ! Never pay any sort of upfront fees to a timeshare resales agent. Think about it! If you were selling your home, would you pay a real estate agent an upfront fee or only when your property is sold? It is the same with selling your timeshare. Dont do it. EVER.

#2 Keep your credit card details to yourself. There are dubious sales operations abound that will contact timeshare owners saying that they have a buyer waiting for there timeshare. All that is needed is a small marketing fee payment (etc). Dont give them your credit card details even if they promise that no charges will be applied until the sale is finalized.

#3 Make sure you are getting the real deal. USA consumers should only deal with licensed real estate agents; they are the only people who can take deposits on behalf of their clients. In the UK (and most of the rest of the world) timeshare is not considered a real estate transaction so anyone can set up as a timeshare resales broker without any sort of qualifications or regulatory restraint. So check their background, check again and then… check again!

#4 Understand the worst part: Your timeshare is NOT worth anywhere near what you paid for it on the resales market. Selling you your timeshare in the first place cost the resort a lot of money, which is unrecoverable.

Your timeshare resort will most likely not be interested or able to sell your unwanted timeshare week for you. This is because they are making too much money selling their own inventory. Even if they do offer to sell your timeshare for you, they will want a substantial commission to reflect their costs and loss of profits had they sold their own week to a potential buyer instead.

Industry research shows that you can expect to receive around a third of what you paid. The market for timeshare resales is microscopic when compared to the current $10Billion per year sales of new timeshare weeks. Market competition is fierce so you must deal with the fact that not only will you not recieve what you paid for your timeshare, but it may take some time to sell also.

As a timeshare owner, I can tell you that I am glad I bought a timeshare. But people don’t just wake up and think, ‘hey, I might just buy a timeshare today’ instead of going to their travel agent to book a vacation as normal. People (generally) buy timeshare because they have attended a sales presentation and been sold on the many benefits of ownership. How this relates to your situation as someone with a timeshare for sale is that existing timeshare owners, looking to add a week to their portfolio, are the major target for your timeshare week. These owners are going to have a specific timeshare product or location in mind, meaning that finding a potential buyer is going to be difficult.

#5 Is the price right? You can get an idea of what you will get for your timeshare in two ways. First you can talk with established timeshare resales agents (more than one).

Remember golden rule number one above and get some agents selling for you. Appoint two or three agents if you can. Two, look around the internet for timeshares for sale and you will soon get an idea of a realistic sales price. One great tip picked up from a seller in the UK ” she agreed a sales price with her resales broker then went on to tell her broker that if he managed to get any more for it, he could keep the difference. A buyer for her timeshare week was found after just 6 days!

#6 Some basic background checks can save a great deal of pain later. When looking at websites for timeshare resales brokers, look at the number of listings. Where there are hundreds of timeshares for sale, this may mean that they will be asking for upfront fees as this is how they make their money. What you want is a company that does not have too many for sale, and who make their money from successfully completing sales.

What you are looking for is a website that comes in the first three or four pages on an internet search from one of the major search engines (google, bing, yahoo). Then you want to check the who-is information on their website. If you find that the website is registered as declined to show owner information, the chances are that this is another fly-by-night company that sooner or later will ask you for a fee to help along the sales and marketing costs.

#7 Be aware of the scams Just like you paid far too much for your timeshare week (should have bought a resale in the first place, right!), you can lose a great deal of money falling for the scams when trying to sell it. There are so many ways you can get caught out it is scary. Deal only with your own legal representative ” dont use the buyers lawyer or the brokers lawyer. Yes it will cost more to use a lawyer but think of it as insurance ” if anything goes wrong, it will not be YOUR pocket that suffers.

#8 You dont have to use a broker. Just like selling your home, you can do it yourself if you wish. If you have the time, again look on the internet for ideas using the term ‘how to sell my timeshare’ or ‘selling my timeshare’. You could save a great deal of money or offer your week at a lower price. The best of both worlds of course is to use a timeshare resales company AND put some effort it yourself too.

#9 The second golden rule! This is listed last just to round things off nicely: remember the saying, if it seems too good to be true, then it probably is! Take wild claims for what they are, be realistic in your expectations, do some homework, compare brokers, set a realistic price, use your own lawyer and chances are, youll have a trouble free experience.

About the Author: