July 25, 2024

BR-Health

Appreciate your health

What Do You Know About Travel Insurance?

Pentingnya Travel Insurance, Bukan Cuma Sekadar Buat Bikin Visa

Travel insurance is insurance coverage that protects one against the dangers of travelling. Be it domestic or international travel policy; it covers the fees associated with trip cancellation, lost luggage, medical expenses, and other losses.

Travel insurance covers the losses listed below:

  • Loss of baggage or loss of personal property
  • Theft/burglary of baggage or private property
  • Passport was lost
  • Cancellation or delay of flights
  • Medical urgencies/Accidents
  • Passing away of the policyholder
  • Disability of the policyholder
  • Hijack
  • Evacuation of the area
  • Missed connection/departure
  • Bounced airline/hotel reservation
  • Things to Recall

Check the travel insurance international policy coverage to determine whether expenses are covered. Numerous travel insurance policies offer additional risk coverage for an additional price, like coverage for hazards other than those listed above. Few travel insurance policies are tailored to the traveller or the travel destination.

Travel Insurance Types

Travel insurance international or Domestic Policy are two significant classifications for travel insurance coverage. Typically, companies that sell trip packages are the ones that offer such coverage. Occasionally, insurance providers partner with the firms/websites/apps where you book your tickets. These are the various types of travel insurance:

  • Single Trip Travel Insurance Policy: This policy provides coverage for a single trip.
  • Multi-Trip Coverage: Frequent travellers should select a cost-effective travel coverage insurance. It covers several journeys to specific locations over an extended period, sometimes an entire year. This is useful for regular travellers and people in business.
  • Educational Travel Insurance Policy: This travel insurance policy is advantageous for students who go overseas for educational purposes. Typically, the journey is usually limited to 30 or 45 days.
  • Group travel policy: It can be implemented when there are too many travellers. There is a maximum coverage limit for group insurance contracts. Typically, insurance carriers make such offers when there are vacations and tours involving groups from other countries. 
  • Personalised: Personalised Travel Insurance Coverage: Aside from this, insurance companies may offer specific or customised coverage. It may be designed specifically for seniors or families. They can construct tailored policies, such as medical insurance for travel, that provide significant coverage for medical expenses. Similarly, corporations and businesspeople can benefit from bespoke Corporate Policies.

Benefits

Additionally, they also offer several substantial advantages. They include:

  • Baggage Perks: This policy covers baggage loss expenses. It may involve instances of loss, burglary, or theft. These plans may protect against losing baggage, passports, essential documents, cash, and other personal items. In addition, baggage charges can be safeguarded during an emergency evacuation or other incident.
  • Cancellation and Delay Perks: Travel insurance companies will refund the associated expenses in case of trip cancellation or delay due to unforeseen circumstances. Also, if you are protected under a travel policy, you can be compensated if you cancel or delay your trip due to an emergency.
  • Medical Benefits: This policy covers hospitalisation and medical expenses. It covers travel costs incurred during a medical emergency, illness, or injury. 
  • Alternate Advantages: There are advantages, such as personalised policies for passengers, particularly regular travellers, groups, and older residents. Because their coverage needs may differ from those of others, and standard travel insurance policies may not suit them. Hence, several insurers also provide customised trip protection packages.

The coverages mentioned above are the most important ones that travel insurers offer their policyholders. They, however, are subject to the terms and conditions of each insurer’s policy. 

Depending on the coverage parameters and exclusions, travel insurance policies will differ (what is not covered). It also depends on who provides the coverage (individuals, groups, students, senior citizens). Buy travel insurance only after thoroughly comparing the plans and amount to be insured and check all the terms and conditions and disclosure statements. 

‘Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.‘