InsureMyTrip Blog

Some important travel insurance terms you should be familiar with:

1. A.M. Best Ratings — Industry watchdog A.M. Best rates and assesses insurance companies’ financial strength and ability to meet their obligations to policyholders. InsureMyTrip.com features a user-friendly monitoring tool for consumers to check the A.M. Best Ratings of all the leading U.S. travel insurance companies before you purchase coverage.

2. Unforeseen — means not anticipated or expected and occurring after the effective date of the policy.

Continue reading “Top ten need-to-know travel insurance terms” »

Chris, Business Development

Recently the financial health of our nation’s insurance companies has been in the news like at no other time in a generation. Many of us take the strength of our financial institutions, including insurance companies, for granted. But it makes sense to do a little homework before entrusting your financial well-being with someone.

One way to gain understanding of an insurance company’s financial health is through their A.M. Best rating. While it’s not a guarantee, a Best rating provides guidance in understanding if an insurance company has the financial assets to cover its expected claims.

InsureMyTrip.com provides the Best rating for each carrier we sell in two places. Our comparison grid includes a line item for A.M. Best ratings, so as you compare plan provisions you can also compare A.M. Best ratings. Secondly, our Ratings Monitor aggregates all of our companies’ ratings in one easy to read table.

We hope this information helps you make an informed decision, but it’s only one piece of the puzzle. What other information do you look for in selecting an insurance company? Leave a comment and let us know.