Buy trip insurance early, there’s a money-back guarantee

Travel insurance policies come with a money-back guarantee, called a “free-look” period, that usually lasts from 10-15 days. This is standard on most plans, and is a great benefit to the customer. Here are a few reasons to take advantage of the free-look period.

The free-look gives you peace of mind. Buy the policy you think is best, knowing that you can read over every detail and return it for a full premium refund. Buying travel insurance is complicated, and you want to make the right decision. By using the free-look period, you are being thorough and shopping wisely.

Insurance documents are so wordy, it is helpful to take your time reading the details. Most misunderstandings regarding what a policy will or will not cover can be avoided by fully understanding the policy. The only way to do this is to read it.

Print it out, sit down with a highlighter, and read the trip insurance policy (also called a certificate). Mark anything that is unclear, and call the insurance company with your questions. Remember, if you are not completely satisfied in your decision, return it for a refund of premium.

The free-look period expires after the stated number of days. Most companies offer free-look periods of between 10-15 days. The free-look also expires if a claim is made or the departure date arrives. Some companies also charge a small administration fee, typically under $10, when a policy is returned for a premium refund under the free-look guarantee.