Travel insurance is short-term insurance that covers travelers against travel-related emergencies and expenses. Most people obtain Travel Insurance when they travel abroad, because it covers medical expenses. Lost travel documents and baggage is also covered.
Why do you need Travel Insurance?
The following 3 reasons explain the most important grounds to have Travel Insurance:
Sickness or injury
Your health insurance covers you in your own country, but not abroad. It is safer to be covered by Travel Insurance in case of a medical emergency, because medical expenses may be very high in the country you are visiting.
Medical emergency evacuation back home is costly and if you are not covered by your Travel Insurance, chances are that you would not be able to get home quickly when you are sick or injured.
Stranded en route to your destination
Being stranded in a connection city may be very costly if you consider accommodation, life necessities and meals. International airline hubs are generally located in major cities such as New York, Taipei, Paris, London and Tokyo. Living expenses in major cities are high and having Travel Insurance cover regarding this issue will surely give you peace of mind and save you money as well.
Happy Traveling and remember to read your Travel Insurance Policy thoroughly before you depart.
Travel Insurance is special insurance designed to cover almost all emergencies that may occur when traveling either locally or abroad.
You can usually obtain Travel Insurance when you book your trip and can choose either single or multi-trip Insurance. Single trip Insurance covers one trip for the entire duration of that trip. Multi-Trip Insurance covers all the trips you undertake within a certain specified period of time.
Insurance Coverage for Travelers
The most common risks that are covered by insurance include:
Accident: Accidental death, injury or disablement
Baggage: Lost, stolen or damaged baggage and personal or travel documents
Delayed Baggage: Emergency replacement of essential items needed
Emergency Evacuation: Immediate removal from hazard or danger
Flight Connection Missed: Due to Airline Schedule
Funeral: Overseas expenses
Health: Visitor Health Insurance
Medical: Emergency due to accident or illness
Repatriation: Remains of deceased
Return: Return of a Minor
Travel Delay: Due to bad weather
Trip: Cancellation or Interruption
Travel Insurance: Optional Coverage
If you need additional Insurance coverage when traveling, ensure that your Insurance Provider offers that particular type of Optional Travel Insurance cover.
Optional Travel Insurance Options include:
Sports: Element of risk, e.g. scuba diving and skiing
High Risk Countries: If you travel to countries that have a high risk regarding war, terrorism and natural disasters
Pre-existing Conditions: Diabetes, Asthma and more
Additional AD&D: Accidental Death & Dismemberment Coverage
Insolvency of 3rd Party Supplier: Hotel or airline went into administration
Acute onset of Pre-existing Conditions: Acute onset of medical condition
It is vital that all travelers take out decent Insurance before embarking on their trip, whether local or abroad. The additional cost of Insurance may well save you a great deal of money and hassles when something unforeseen and unfortunate happens.
Everything you need to know about travel insurance
Why do we need travel insurance? Travel insurance protects travelers against adverse events such as cancellation and interruption of travel. It reimburses the traveler regarding medical expenses incurred, loss or damage of property and transit delays.
How can you make the most of your travel insurance?
There are four main categories of travel insurance, namely Health & Medical, Delays & Cancellation, Death and Damage or Loss of property.
Emergency evacuation: Guarantees emergency transportation to either a local hospital in the event that the traveler is unable to use own form of transport. Another option is to have the traveler transported to a hospital closer to home. If family members are covered on the same policy, they can also travel back to their home destination with the patient.
Medical reasons: Reimburses emergency medical and dental costs incurred by travelers. The majority of holiday insurance policies reimburse the traveler after they have paid locally for treatment. Medical claims are usually paid within 7 – 10 working days. Pre-existing medical conditions are covered by most policies if the policy is purchased within a maximum period of 21 days from the date the traveler made the first payment or deposit.
Cancellation: Reimbursement comes into effect if travelers have booked and paid for a holiday, but are unable to follow through with their plans due to personal illness or injury, death of either the individual or a family member, adverse weather conditions, transport strikes, terrorism, sudden unforeseen unemployment or by sustaining serious damage to their home caused by a natural disaster.
Delay: Travelers are reimbursed for hotel, food or clothing expenses in the event of a flight delay.
Interruption: Insurance companies usually reimburse travelers abroad if they have to cut their trip short due to illness, death, terrorism, weather, airline strikes and other adverse conditions. These conditions refer to events outside the control of the traveler.
Accidental death: Covers death or dismemberment at any time of your trip.
Air Flight accident: Covers death or dismemberment during an air flight only.
Common carrier: Covers death or dismemberment of the traveler while traveling on public transport such as a plane, ferry, train bus or taxi.
Baggage loss: Reimburses a traveler for lost, stolen or damaged personal items. This coverage is usually not confined to baggage damaged or lost by the airline, but covers the duration of the trip.
Hire Car damage: Reimburses travelers for damage or loss to a rental vehicle. Liability coverage should still be purchased through the car rental company.
Assistance services: Guarantees a 24-hour telephone advice and assistance service to travelers. This service can be used anytime a traveler needs advice. Be sure to keep this number in several places in your luggage or on your person when you move around.
We trust that these travel insurance guidelines will alert you to the issues you should address when taking out travel insurance for your next trip.