Travel insurance is insurance that covers medical expenses, trip cancellation, lost baggage, flight accident, and other losses incurred while traveling. Travel insurance has different kinds of policies for travelling domestically or internationally. Travel Insurance plans are of various types as follows:
Flight Insurance: It is one of the cheapest and most accessible kinds of insurance plans. In the event of a death in a plane crash, it pays a certain amount to the beneficiary.
Accidental Death and Dismemberment Insurance: They pay this when a person loses a limb, hand, or any other body part while on a journey or loses their life. There is a higher amount paid if the person has the accident while traversing by public transport.
Emergency Medical Evacuation Insurance: It includes transportation to the nearest place where they can provide appropriate medical attention. This type of insurance is significant as people may not have the required facilities to treat their illness in the area they are visiting. This policy includes the costs of ground transportation for evacuating the passenger. It deals with travel arrangement assistance, immigration, and customs, flight clearances. It also has a pivotal role in choosing the air carrier and medical escort most suited for the passenger.
Repatriation of Remains Insurance: If someone were to pass away while on a trip, then their remains are insured by this. They cover the costs of removing the body from the hospital, embalming, coffin, and transfer to the airport, and shipping costs. They coordinate the post mortem with the local police if required and with embassy or consulate for cancellation of passport and getting import certificates.
Travel Medical Insurance: It provides cover for unforeseen medical emergencies or illnesses. The policy includes accidental death and dismemberment insurance, emergency medical evacuation insurance, emergency assistance, and lost luggage coverage. Travel Health Insurance allows trip interruption coverages to return early in the event of a natural calamity or severe sickness or death of a family member. Travel health insurance offers a variety of policy choices. However, some policies may have sub-limits, which are less than bare minimum medical expenses. Group travel insurance plans for groups of five or more are cheaper by about 10 percent.
Multi-trip Travel Insurance: This is highly useful for business class travellers or executives who travel multiple times in a year.
Trip Cancellation Insurance: Trip Cancellation Insurance covers non-refundable, prepaid trips which a person is unable to go on. This also includes baggage delay coverage.
Baggage Delay Insurance: While travelling by air to a particular destination, if the luggage does not reach on time, then this insurance covers the replacement of necessary items till the bags arrive. This policy has limits like per day, per person, and per item. There is a window of a few weeks over which you can file this claim. However, the traveller must keep receipts of the necessary items purchased to demand the coverage.
Travel Delay Insurance: Many insurance plans cover this. Delays may be due to different reasons like mechanical problems with the craft, air traffic delays, bad weather, and other purposes. This insurance provides reimbursement for additional costs like meals, hotels, car rentals, extended childcare, extended boarding of pet, medications, toiletries, and other previously made bookings if the policy covers the reason of delay. The minimum delay amount varies from five to twelve hours for different systems. The per-day limit for plans is around $100 to $300. And the policy limit is that of $1000 to $1500. While making the claims, the claimant must have the boarding pass, receipts for expenses, a claim form, and any other documents required by the insurance company. It also requires a statement from the carrier confirming the delay.
Baggage Loss Insurance: Many trip cancellations plans include this. Loss of baggage can disrupt a person’s travel plans immensely. The luggage may have been lost, stolen, or accidentally destroyed by the airline. Several airlines will refuse to provide cash reimbursement and will give vouchers instead. Many airlines take a long time to accept that the bags were lost. Also, they ask for documentation and receipts for all the items in the luggage which the person might fail to provide, thus delaying the reimbursement further.
Trip Interruption Coverage: Travel insurance packages cover this. The unused part of the non-refundable travel expenses will be forfeited. However, if the reason for the interruption of the trip is a valid one, then the claimant may receive reimbursement up to 150 percent of the expenses.
A vital part is choosing the right policy. The cheapest travel insurance may not be the best one. While selecting a suitable plan, it essential to have an itinerary for the trip prepared. This helps the policy buyer choose the terms of the policy carefully. For most cases a policy covering lost luggage, medical emergencies, and cancelled flights is adequate. It is better to have a higher limit for medical evacuation so that you can be sent home in the event of illness. It is essential to check that the policy includes any problems due to natural disasters. Frequent travellers will save a lot by investing in annual travel plans. For trips with adventure sports, you should include it in the policy. It is essential to compare programs before settling on a particular one. There is a lot of travel insurance promotion recently by different policy providers. The buyer should read the fine print on the policy very carefully. Another right way to analyse various policy providers is to check the customer service reviews.
Any top-rated company offer cheap travel insurance with reasonable limits, and exclusions. They provide a variety of insurance plans, but their travel insurance plans are very efficient and suitable for potential buyers. Their aims to provide a very safe travel experience to its policyholders.
Sometimes it seems that spending a large amount of money on travel insurance is a waste. However, in the event of an unpleasant circumstance, it is this travel insurance that provides the necessary help. Thus, while travelling you should always consider purchasing travel insurance.
For more information about travel insurance please read Travel Insurance Guide