Vacation is a time when we unwind
ourselves, we just want to forget everyday’s worry and want to soak ourselves
in a new experience to create a sweet memory for future.
So what can ensure the peace of
mind in a strange land? Yes the answer is Our “Travel Insurance”
Travel insurance can
help cover medical expenses or financial losses you might incur while travelling.
It's often pitched as the best protection for those travelling domestically or
overseas. Here we are helping you to understand the travel insurance concept in
a better way and find out what type of policy would be suitable for you. How
you should prepare yourself before actually start paying for protection against
the unforeseen and unpredictable.
Video on Travel Insurance Advice
The Five Main Category
of the Travel Insurance
- Trip cancellation
- Travel medical
- Major medical
- Emergency medical evacuation
- Accidental death/flight accident
Trip Cancellation Insurance
As its name says, trip
cancellation insurance or sometimes known as trip interruption insurance or
trip delay insurance, covers you in the event that you or your traveling
companions need to cancel, interrupt or delay your trip.Policies differ in
terms of which reasons are acceptable, but it's fairly typical for this
insurance to cover cancellation or interruption for the following reasons:
- Sudden business conflicts
- Change of mind
- Delay in processing your visa or passport
- Illness or injury
- Weather-related issues
Some policies may include
additional coverage, which would insure you against one or more of the
following events:
- An act of terrorism
- The vendor (cruise line, tour company, airline) going out of business
- An accident on the way to the airport
- Fire or flood in your house
- Jury duty
The insurance pays the difference
between the refund you get from the vendor and the amount you originally paid
for the trip. Make sure the insurance you buy is not from the same carrier you
purchased the trip from; that way, if the carrier goes out of business, you'll
still be protected if something goes wrong during your trip.
Travel Medical and Major
Medical Insurance
Both of these types of insurance
provide medical protection if the policyholder becomes ill or is injured while travelling.
The difference between these two types of insurance is the duration of
coverage:
- Travel medical insurance provides only short-term medical coverage; the duration can be anywhere from five days to up to one year, depending on the policy.
- Major medical insurance is for travellers who are planning to take longer trips of six months to one year or longer.
These types of insurance can help
you cover medical expenses and locate doctors, hospitals, healthcare facilities
and foreign-language services if you become ill or injured while travelling
overseas. Whether you purchase medical insurance separately or you
already have it, find out if you will need prior approval from your insurance
company for any type of medical care. Check to see what pre-existing medical
conditions, if any, are excluded before you sign up. Make sure you read all the
fine print and know what the policy covers and what it doesn't.
Emergency Medical
Evacuation Insurance
This type of insurance provides
coverage for medically necessary evacuation and transportation to medical facilities.
This becomes extremely useful should you become stranded in a remote rural area
without easy access to needed facilities. Paying with cash overseas can lead to
unexpected problems.
Accidental Death and Flight
Accident Insurance
These types of insurance pay
benefits to a traveller’s surviving beneficiaries, as with life insurance.
Benefits are paid out in the event of an accident resulting in death or serious
injury to the traveller.
Specialized Coverage
There are also more specialized
forms of travel insurance. For example, some focus on the needs of business travellers,
extreme athletes or expatriates. So, if you are planning to participate in
high-risk or extreme sports while away, selecting an insurance that is made
specifically to cover you in case of a sports-related injury might be more
cost-effective and needs-specific than selecting an insurance policy that
provides more general coverage.
Common exclusions in many type of the travel insurance policies.
Like most insurance policies, travel insurance has many exceptions. Here
are some common ones. So check well what they have included before proceeding
- Prior
medical conditions
- Pregnancy
- Sports
activities (including scuba diving, rock climbing and organized sports)
- Self-inflicted
injury
- Suicide
- Mental
illness
- claims
arising from war (declared or undeclared)
Purchasing Travel Insurance
What type of Travel
insurance you need?
There are several questions to
ask yourself when trying to determine whether to buy travel insurance or
deciding what type of insurance you'll need
- Will you be travelling overseas?
- Are you planning to participate in extreme sports?
- Can you afford the cost of the trip back home if an emergency arises and you need to get back?
- If you or someone who is travelling with you gets sick, will you be able to afford medical care?
- Your general health condition.
- Where are you travelling.
You can purchase travel insurance in three ways:
- Per-trip coverage is the most common type of travel insurance. This policy is for travellers who don't travel as often, and it provides protection for a single trip.
- Multi-trip coverage provides protection for multiple trips during one year, but none of the trips can exceed 30 days.
- The annual policy is for frequent travelers; it provides coverage for a full year.
Preparation before purchasing
the insurance policy.
When deciding whether to purchase
a policy, think about the as many
scenarios as you can which can ruin your
vacation .
- Get familiar with the cancellation policies of hotels, tourism cruise lines and other travel service providers.
- Review existing policies and agreements with credit card companies. In some cases, credit card companies already cover issues, such as lost luggage or car rental liability.
- Become familiar with price schedules, terms, conditions and exclusions of the insurance you choose.
Finding Travel Insurance
Here are some tips to get your
search started:
- Research your current coverage by checking with your existing health insurance provider and your credit card provider. American Express offers travel insurance to card members.
- Ask your travel agent.
- Explore the web.
Compare Features
Weigh your needs against the
types of coverage offered. Remember to read all the fine print. Consider:
- what's covered, and what isn't
- the cost
- the deductible
How to buy cheap travel insurance
After analysing your situation
and need, go to the below listed website to compare and get the cheap deal in
travel insurance .Some of the website also provides you the personal consultation
to find out the best value for your money.
Read some good tips on
Tescocompare.com
Leave the worry behind and enjoy the holiday !
