Travel insurance is very
crucial part of every traveler to get safe and healthy mind during
travel.How often do you travel? Do you travel across the globe? Are you a
globetrotter? Do you keep one bag eternally packed with your basic necessities
because you might have to travel at any time? Your business trips only come at
the last minute without much warning?
Ok, In such cases have
you ever had a problem like
- Your passport was stolen?
- Misplaced Your bag &
baggage?
- You had to be admitted into a
hospital while holidaying in abroad?
- Your trip had to be cancelled
due to bad weather and you suffered a loss at the flight and hotel
reservation?
Then Travel Insurance
has the solution of all the above questions.Travel Insurance means insuring the
risks of having a financial loss or a medical emergency while traveling. In
case of a medical emergency, your travel insurance will pay for the medical
expenses incurred while undergoing treatment abroad. You do not have to worry
about the exorbitant medical bills which will taken care of by the insurance
company. There are other benefits of cash allowance for delayed flights and
loss of baggage, theft of your belongings etc. It pretty much covers all the
standard risks involved while traveling abroad.
Many different people
loosely understand Travel Insurance to mean different things.In simple, Travel
Insurance primarily falls into two broad categories such as
- Package plan that
includes Trip Cancellation Insurance coverage and the
other is
- Package plan that does not
includes trip Cancellation Insurance coverage but mainly focus on Travel
medical insurance coverage.
What does trip cancellation Insurance include?
Trip cancellation
insurance is a package policy that includes various items such as:
Trip Cancellation:
In case you need to
cancel your trip for valid reasons prior to your departure, it will reimburse
you the previously paid non refundable portion of your trip cost.
Trip interruption :
In case you need to
return back home from your early due to reasons such as your house is on fire
or close one passed away or flooded or any natural calamities the
trip insurance help you to pay for the additional expenses to make arrangements
to return home early.
Emergency Medical
Expenses:
If you were to get sick
or injured during your trip,Travel Insurance will pay you the expenses.
Your domestic health insurance you have may not cover you due to outside
your home country, or may cover limited coverage or it may be subject to higher
deductible and higher coinsurance and higher out of your pocket maximum.
Emergency Medical
evacuation:
If you were to get or
injure while you are on the go , it would transport you to nearest medical
facility where adequate medical care can be given. Once you are stable enough
to travel back home, it may also pay you to return home under the Repatriation benefit.
Repatriation benefit of
remains:
God forbid, If you were
to pass away while on your trip, this insurance benefit would pay to send your
remains back home safely.
Accidental death &
Dismemberment:
This type of coverage
would apply in case you were to pass away in an accident or were lose one or
two limbs(dismemberment) in an accident.
Bag and Baggage:
Many policies may cover
things such as loss of checked luggage,baggage delay up to various amounts.
Some policies may just pay for the additional expenses you incur due to
the fact that you lost your luggage and pay for reimbursement of those items
and ask you to collect the payment from the travel provider (such as airline)
because they lost your luggage.
What is travel medical Insurance ?
You are leaving your
home country, you should always have emergency medical and
evacuation coverage. This coverage is included in all vacation travel
insurance plans, or you can buy a travel medical insurance.
Travel medical Insurance mostly does not
include trip cancellation benefit but focuses primarily on medical benefits. It
may provide better medical coverage than trip cancellation insurance would
provide. It may not limit the coverage strictly to major emergencies. This type
of insurance coverage is generally more suitable for people who are travelling
for a longer duration outside their home country.
Newly added travel insurance are
Students travel Insurance:
This is for
students who are going abroad for education. A lot of universities insist on
student travel insurance as the cost of medical expenses while studying in a
foreign university can be quite a large sum for a student. In fact, student
travel insurance is strongly recommended even if the university you are going
to does not insist on it. While on an extended stay, the chances of falling ill
or of a medical emergency can be quite high. This also offer some other
benefits like visit of emergency family visit, bail bonds on tuition fees
etc.
Pet Travel Insurance:
If you are a pet owner
and considering a move abroad, one of the more difficult considerations is if
and how to take your beloved pet abroad with you. After all, a pet is part of
the family and will have undoubtedly been part of the decision making process
when you decided to make your move.
So it is
recommendation to chose a perfect pet travel insurance plan before your
plan to travel abroad.
If you have any queries about travel/ trip Insurance fell free to comments in contact form of home page.I will definitely reply
accordingly.