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There are many good companies out there, but there are also some that are not so good. Our company has fired a few of them because either their policies were not that good or their customer service was not up to our standards. A couple of these are 'big name' companies, so don't automatically assume that because the company is well-known that they provide the best bang for the buck.
Alot of people recommend going to insuremytrip.com to check out travel insurance. And this is a good site to compare prices and coverages, but it's not a site that rates the companies or recommend one over another.
Currently, we sell policies from 3 different companies (all travel insurance, none of them travel protection). We lean more towards Travel Safe over the others because of their customer service and their pricing. We've used them for 7 years and have had excellent results with them.
Keep in mind that agents make a commission on travel insurance. Some companies pay more commission than others, so they often charge more in order to make up for it. However, when you look at the coverage and the limits, you'll often find the higher price is not warranted. In other words, you cannot judge a policy by how much it costs.
My best advice is to talk to your agent, check out the policy and the company, compare the prices and policies with other companies, and make an informed decision. But do not assume that your agent is selling you travel insurance as it could be travel protection.
As for cancelling the policy, some companies allow you to cancel within a few days after purchashing and get a full refund. But if it's been more than a few days, you're out of luck. You've purchased a product and refunds are usually not provided if cancelled. Check your policy for specifics.
There's nothing that says you can't buy more insurance, but then you could get into problems with double coverage should any claims be filed since you have to provide statements/documentation that your claim is not being paid by another entity. But if one policy won't pay, then the other might - depends on the policies and the coverages.
Pete
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