If you travel a lot, you have probably been given the opportunity to buy travel insurance and without seeking to know much about it, you just went ahead not really considering whether it’s a good deal or a rip-off. Anyone traveling extensively is at risk of financial or physical loss anytime. There are several things you need to know about travel insurance before considering your options.
Most important fact, traveling always includes risks — such as having your valuables stolen, getting sick or in to an accident, missed flights and even the loosing your life in extreme cases. Having travel insurance can give you some peace of mind by indemnifying you when any incident related to these risks occur. There are five main things covered in travel insurance:,
Baggage loss/delay
It covers your luggage that is either lost, damaged or delayed, during your trip or flight. It is always included in package travel insurance policies. There may be exclusions or price limits on jewelry, electronics or other valuable items.
Trip curtailment/cancellation
This covers your expenses in case your trip is interrupted because of some unforeseen reason, such as health issues or if an organized tour that you prepaid is canceled. The insurance covers the non-refundable fees you have paid to take the trip. This type of insurance can also cover you in a situation where you have to miss a trip because of an accident or inclement weather.
Medical expenses
This provides additional coverage for international traveling and can help pay deductibles or “out-of-network” provider charges that your current health insurance does not pay. In general, this type of medical insurance picks up and pays your health care expenses not covered by primary healthcare policy.
Emergency evacuation
This covers the cost of transporting you to a medical facility where you can receive appropriate treatment in the event of an emergency. This type of policy always excludes dangerous activities such as skydiving; although additional supplemental insurance may be available to cover sports or adventure activities.
If you are always on a flight, ship or even road, from one country to the next, then travel insurance is a necessity for you! It gives peace of mind to know that you are covered in case the worst happens during your trip. However, even if you rarely travel, travel insurance during your travels needs to be part of your planning.