Published on April 15th, 2016 | by Rael Tooch0
The Benefits of Having a Travel Insurance Deductible.
Bora Bora, Cape Town, Fiji, Sydney, Bahamas – these are some of the most wonderful places on earth and some of the destinations you would ideally love to visit. But, the costs can add up quickly and the destinations ultimately get put on hold. While we would love for you to see all your dream destinations, you may be able to save some money for your next vacation.
At CAA, we recently introduced deductibles on all our travel insurance plans. It’s a great way to save money on travel policies.
You may or may not be familiar with deductibles, but here’s how it works – a deductible is a specified amount of money that you – the insured must pay in USD should you have to make a claim – due to the unexpected occurring on your travels. Once you pay that amount, the travel insurance company will cover the remaining costs for all eligible claims.
The amount of your deductible is up to you. By paying for a deductible, your travel insurance premium will be reduced; the amount of the reduction depends on the deductible level you select.
It is not mandatory to add a deductible to your policy in order to purchase travel insurance, but there are benefits to doing so. To learn the ins and outs of deductibles ahead of your next trip and to find out how they can benefit you, click here
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