Getting travel insurance is wise if you want to protect yourself against any unforeseen events, like missed flights, sickness abroad, natural disasters, or even going bankrupt.
There are so many types of travel insurance available on the market, and zeroing in on a particular one might be a hard nut to crack.
With the right research and resources, though, you will find travel insurance that can cater to all your travel needs, and this is what this guide is all about.
Basic Types of Travel Insurance
Well, there are so many insurance policies, and each is different, so be sure to read the fine print before you make any decisions. Here are the different types of travel insurance.
Trip Cancellation Insurance
This covers unforeseen events such as illness, injury, or death that can cause you to cancel your trip. Most policies exclude trip cancellation in the event of civil disturbance, war, or when you lose your job. In this case, if you do not have job loss protection, you might be unlucky.
When purchasing a travel insurance policy, first consider how much you will be investing in before your trip. Are you buying an expensive ticket? Are you likely going to cancel your trip? If you can check all these boxes, then purchasing a trip cancellation policy would be a prudent idea.
Medical Insurance
Under medical insurance, there are several types, such as emergency medical evacuation. This covers the cost of transportation if a physician advises that you must be referred to the nearest medical facility or even your home country due to an illness or injury. This policy is recommended for people who intend to travel to remote or developing countries.
Other types of medical Insurance include an app; this directs you to English speaking doctors within your area. There is also cash payment to the beneficiary in case of accidental death, loss of limb, or sight.
In most cases, you will be asked to pay for your medical services, and your insurer will reimburse you once you have filed a claim. You might also be asked for ‘proof of payment’; talk to your insurance provider and know exactly what is expected of you before you purchase the policy.
Baggage Loss Insurance
The baggage loss and delay policy covers you in case your luggage gets lost, stolen, or delayed. If your luggage is delayed for more than 12 hours after arriving at your destination, your insurance provider will give compensation with a cash payment.
Flight Delay/Cancellation
Also referred to as travel delay, this policy pays for your meals, accommodation, and other travel arrangements once your flight has been delayed for more than 6 to 12 hours. Read your policy carefully to know exactly how long you have to wait before you contact your insurance provider.
Travel Document Protection
This comes in to help you replace your travel documents in case they get lost or stolen. You won't want to be without a passport when going through customs.
Annual Travel Insurance
If you are the kind of person who travels often to developing countries, it would be prudent to purchase annual insurance. Most of these policies come with medical evacuation cover, benefits in case of death, treatment costs in case of illness, and so much more. Note, however, that these policies do not cover trip cancellation.
Conclusion
The above are some of the travel insurance policies available on the market. Depending on your needs, be sure to carefully read your policy terms and conditions to confirm whether the coverage will cater to all your needs. Also, be assured that it will be valid in the countries you are visiting. If in doubt, ask experts to help you choose the right policy; after all, you are paying for it.
