Should you or should you not buy travel insurance? China is, after all, one of the world’s top economies. Why would you need insurance while in the country?
Well, the simple fact is that life is unpredictable. And having travel insurance in China will make life easier should the unexpected happen.
Types of Travel Insurance
There are many types of travel insurance for China travelers. Some of the more common insurance packages include:
- Trip interruption insurance
- Trip delay insurance
- Trip cancellation insurance
- Life insurance
- Evacuation insurance
- Accident insurance
- Emergency medical insurance
- Baggage insurance and personal items loss insurance
- Comprehensive annual travel insurance
- Legal advice and expenses insurance
Determine which one you will need to buy and pay for the coverage as you make your travel plans.
The Benefits of Buying Travel Insurance
No insurance coverage is free. So, why should you spend your hard-earned money on buying travel insurance for China?
Think of China travel insurance as an investment. Here’s why you should always buy it:
- If you or your loved ones get sick your medical expenses will be covered even if your regular health insurance can’t cover you.
- If your trip is delayed or interrupted, you may be able to cater for the expenses to get back on track
- You will receive financial compensation for the luggage and personal property that you lose while you are traveling to China.
- In case of an accident, illness, or natural disaster, your costs of treatment and/or evacuation will be taken care of.
- If one of your loved ones dies, you don’t have to struggle financially to transport the remains while dealing with grief. The costs will be taken care of for you so that you can mourn with dignity.
- If you get in legal trouble your insurance can help you get legal advice to get you out of the mess you find yourself in.
Factors That Affect the Choice of Travel Insurance
You need to research carefully about China travel insurance products that are on offer before making your choice. If you choose the wrong product, you may not benefit from it when you need it.
Here are the factors to consider when choosing travel insurance:
a) Your destination
Where you intend to go for a visit or business trip affects the availability of travel insurance. China travelers should be aware that not every insurance company will offer you the coverage that you need.
Some insurance service providers only offer coverage for travelers in North America while others may only extend to the European region. Others may cover Asia but only if you are a resident of the region. Every insurance company has its own way of doing business
So, the first step to ensuring that you can get the best travel insurance China coverage possible is to ensure your shortlisted company provides coverage for visitors heading to your destination in the first place.
And bear in mind that the country you are in will affect health care costs. Some countries have high health care costs while others have subsidized health care costs. Some Chinese citizens have access to free healthcare in public hospitals. But as a foreigner, you will probably be taken to a private hospital of something happens. And that can end up being quite costly.
b) The cover limits that exist
You also need to think about the limits of the insurance cover that you intend to take. If any kind of unexpected event happens when you are overseas, the costs can add up quickly. And if you intend to travel to China with some of your valuables then you should think seriously about what you could lose.
Different China travel insurance products will have different limits. For example, a trip cancellation policy may have a $5,000 while a medical emergency cover may have a $1,000,000 limit. Each insurance company will offer unique limits. So, you must determine which company offers the limits that work for you. And expect to pay higher premiums for higher limits.
c) Cost of insurance coverage
What are you expected to pay for your travel insurance? China travelers need to ask themselves this question.
You must think about the upfront payments that you must make to safeguard yourself and your loved ones while traveling. Is it something that you can afford? Does the cost make sense when you consider the extent of the coverage you will get if something comes up?
If you feel that the China travel insurance products you are considering are too expensive, find something cheaper.
d) The number and age of the insured
Do you intend to get individual or group travel insurance? China-bound travelers like yourself need to think about this.
You can pay for an individual insurance cover. Or you can find a package that pays for your entire family or group of travelers.
Remember, the older you are the more expensive the insurance coverage is likely to be. If you or someone in your tour group is older than 65, then the costs of insurance may be much higher than you anticipated. That’s because elderly people are associated with increased health risks.
So, watch out for those age limits and do the math before choosing the insurance product that works for you best.
e) The exclusions
Insurance companies usually indicate exclusions for their products. Each company gets to decide what it is that they will not cover.
For example, some insurance companies may not cover pre-existing conditions as part of their standard emergency medical coverage. Some of these health issues include asthma, diabetes, heart diseases, etc.
Others will not offer coverage if you engage in adventure sports like bungee jumping and scuba diving. Some of the people under your policy may also not get covered if you travel separately to your destination or if you don’t live together. In many cases, you must pay higher premiums to get the additional coverage if you are excluded in some way.
Since it’s too risky to stay without China travel insurance, you should shop around for products that either don’t exclude you or have affordable add-ons that will provide the extra financial protection that you need.
In some instances, the only way to get the insurance coverage that you need would be to partner with a specialty insurance provider.
f) The extent of coverage
You should get the most comprehensive travel insurance China visitors can access if you intend to visit the country often. That means that you should prioritize multi-trip policies. This kind of insurance product will provide coverage for multiple trips in a calendar year while placing limits on the duration each trip will last.
Consider this kind of policy if you are a business traveler with interests in China that require you to make several trips per year. The basic rule of thumb is that if you travel more than thrice a year then you should get a multi-trip policy. Buying one comprehensive China travel insurance cover will be much cheaper than buying a policy for each time you travel to the country.
g) Ratings and reviews
Always take the time to investigate an insurance company’s ratings and reviews. Anything over 3 stars is worth considering. The higher the ratings and the more positive the reviews, the more reputable the company is likely to be. That means you can trust their China travel insurance products.
Examples of Travel Insurance Companies and Their Products
You have plenty of choices when it comes to having travel insurance in China. Here are some examples of China travel insurance companies and their products:
a) World Nomads
World Nomads offers gear protection, trip protection, emergency medical, and emergency evacuation insurance policies. The company has a rating of 3.3 stars on Trust Pilot.
It also covers accidents and death as well as the repatriation of remains. The limits range from $1,000 to $500,000 depending on which policy you want to buy. So, you don’t have to buy an expensive cover if you are a budget traveler.
World Nomads offers insurance products for both individuals and groups of people. And you can get a quote online to get an idea of how much it will cost you to get the travel insurance for China that you need.
SafetyWing offers nomad and remote health insurance coverage. It has a 3.9 rating on Trust Pilot.
The Nomad Insurance cover can cater for travel and medical expenses for families of up to 2 adults and 2 children. It will take care of issues such as the loss of personal items, medical emergencies, natural disasters, and even personal liabilities. The costs start from $40 for 4 weeks of coverage. The cover has a $250,000 maximum limit with a $250 deductible.
The Remote Health Insurance cover is tailored for the business traveler and remote worker. You should consider this travel insurance in China for your remote team. The standard cost is about $116 per person per month. But this can go up depending on the coverage you see. And the annual coverage limit is $1,000,000 with a $250 deductible.
You can buy this insurance package for both part-time and full-time employees. Also, both long and short trips are covered by SafetyWing.
Some of the expenses that you can cater for include reconstructive surgery, hospital treatment and accommodation, MRI, CT, and PET scans, etc.
Customizable add-ons are also available. These include maternity costs, dental care, vaccinations, and screenings. So, you should consider this insurance package seriously if China business trips are on your schedule.
c) Travelex Insurance
Travelex Insurance is also an option that you can use to obtain travel insurance in China. It has a 3.2 rating on Trust Pilot.
It offers trip interruption and cancellation insurance, as well as emergency medical and evacuation covers. You will also get compensation for the loss of your personal things also as well as any missed connections.
Some policies are for individuals while others are for families. It is worth noting that Travelex insurance even covers pre-existing conditions. And their coverage limit is as high as $500, 000.
Other customizable upgrades you can get on your policy include car rental collision as well as additional medical coverage in case of an injury, accident, or medical evacuation.
To determine how much it will cost you to get covered by Travelex travel insurance in China, simply use the online calculator.
You should have the best travel insurance China-bound travelers can get. You can do that by getting a cover with a decent limit that will take care of you and your loved ones in the event of an unexpected problem from a reputable company.
It pays to shop for China your travel insurance early. You can do it as you process your China visa. And if you need help with the visa application process, there is always professional help for that.