What is Travel Insurance? Why Do We Need It?
To put it simply, travel insurance is a type of insurance that covers financial lightweight losses including medical expenses incurred while travelling within the country or internationally. Travel policy is designed to protect your health, belongings, and your finances during the course of your trip. While it’s a good idea to take out travel insurance on international visits, it’s also safe to check what your insurance covers.
Travel is one of life’s greatest pleasures, but even the most carefully planned trip can be complicated by unforeseen events. Whether it’s lost luggage, cancelled flights, or medical emergencies, an unexpected event can cause a financial crisis. Hence, it is essential to buy a good travel policy that can safeguard your journey and make your vacation a truly memorable one.
Travel policy has always been perceived as an optional package. But, without the proper coverage, you may be followed home by a string of incidental expenses.
How Can We Choose The Best Travel Insurance?
Today, travel policies come with a variety of options but choosing the right kind of insurance policy is important. A good travel policy is one that covers you for what you need, and doesn’t charge you for coverages you don’t.
While it’s a good idea to take out travel insurance on international visits, it’s also safe to check what your insurance covers. Remember, online travel policy only covers trip cancellations for certain reasons, including sickness, a death in the family, or severe weather.
When identifying the best online travel policy for yourself and family, look for the following policy details:
• How many family members / individuals are covered?
• What are the expenses covered?
• What are the different plans available?
• What’s the maximum coverage offered?
• Does the policy cover pre-existing conditions?
• Does the provider have a worldwide, 24/7 emergency contact number?
• Can insurance be purchased and renewed online?
• Is the policy applicable only when travelling abroad or even within one’s own country?
• Does the travel policy cover multi-trips?
• Does the policy provide coverage for adventure sports?
What Should An Ideal Travel Insurance Policy Cover?
While travel insurance policies come with a variety of benefits, the following are the necessary covers you should look for:
• Medical and health cover for an injury or sudden illness abroad
• 24-hour emergency service and assistance
• Lost and stolen possessions cover including passport
• Trip cancellation cover
While it is not compulsory, most travel companies usually insist on some form of insurance as a stipulation of their holiday product. Travel Insurance has always been perceived as an optional package. But, it covers several situations that guarantee you peace of mind. Business or leisure, remember to insure before leaving.