Annual Travel Insurance

Annual Travel Insurance

Join a group. The old saying that there is power in numbers is especially pertinent in the area of insurance. Thus, whenever possible, obtain your Annual Travel Insurance through a group rather than on an individual basis. Not only will you save money it you will have the power if the group to keep you from being penalized (by increased premiums or refusal to renew) if you make what the company thinks are excessive claims.

Get involved

A lot of us treat Annual Travel Insurance like the weather; we gripe and complain but don’t do anything about it. Luckily, insurance is not like the weather. We can do something about the prices that are too high and insurance departments that are biased in favor of the companies. But to do so we must get involved and we must have an agenda. And that is what the Consumers’ Agendas are about.

The Annual Travel Insurance Contract

Now that you are familiar with the basic principles of purchasing insurance, you are ready to tackle the insurance policy itself. As we started in Chapter2, a policy of Annual Travel Insurance is a written contract. Without getting too deeply into legalese, let’s define a contract as an exchange of promises among two or more people (or companies) that is enforceable by law.

     In order for the law to recognize and enforce mutual promises as a contract, each promisor must agree to do something that he, she, or it would not otherwise have done. Usually this involves both sides giving the other something of value, or one side giving something of value and the other assuming an obligation. The assumption of these burdens is called consideration.

     For example, if your friend promised you that would buy you steak dinner based on your promise to mow his lawn, you’d have a contract. Your friend had no duty to buy you the Annual Travel Insurance and only agreed to do so because you agreed to do something you didn’t have to do; I. e., mow the lawn. If, however, your friend promised to pay his own income taxes if you mowed his lawn, there would not be a contract because his promise involved doing something he already was under an obligation to do.