Traveling abroad takes a lot of planning and preparation, however, things don’t always go according to plan. Travel insurance allows financial coverage for events which might occur during your travels. The insurance can cover medical bills, flight cancellations, lost luggage or sometimes even terrorism. Some events like terrorism and natural disasters are also covered in certain travel insurances. It is best to purchase the insurance when you book your flight. There are many types of travel insurances available. The three main types include;[irp]
Types of Travel Insurances
Medical coverage policy which provides you coverage if you become sick during your trip. You will also be covered for the ambulance charges or the helicopter airlift to the hospital. Some policies, in the case of death, offer monetary compensation to your beneficiaries.
In case you want to cancel the flight, due to whatever reason, trip cancellation policy will cover the cost of doing so. You will also be reimbursed for any payments that you may have made. Even in the case of a family member’s death, the ticket cancellation is allowed.
Baggage insurance policy, which reimburses you for your damages, lost or stolen luggage. This policy also provides coverage for any accidents you might have in a rental car.
8 Reasons you must have Travel Insurance while going abroad: There are many reasons to purchase travel insurance, some of which are;
1-If you fall ill or a relative dies and you want to cancel your flight, most airlines would not reimburse you, unless you have trip cancellation coverage.
2-You miss out on your connecting flight due to any reason; travel insurance allows you to get on another flight.
3-Your flight gets canceled and you have no cash to buy a new ticket, you will be reimbursed and can buy a new ticket.
4-Natural disasters such as hurricanes, blizzards or tornados are affecting the location you want to travel. Travel insurance will help you arrange an alternate location for your vacations.
5-Due to the rise in terrorist attacks these days, you will be reimbursed if you suffer any damages.
6-During your trip, you get hurt or become sick; your medical expenses will all be covered.
7-If you lose your luggage during travel, baggage travel insurance will reimburse you and you can buy everything again.
8-If your hotel, airline or travel agency files for bankruptcy, the insurance will reimburse you for any payments you might have made to the respective companies. Non-refundable tickets can also be reimbursed in such cases.
How to Buy Travel Insurance? For those wishing to purchase travel insurance, you can easily contact your health insurance provider for that. Most of the health insurance companies cover travel insurance for their subscribers as well. However, if you don’t want to take it, the internet is the best place to do so. You should be clear on what type of insurance you would want and how much you are willing to pay. It is also important to compare policies before buying. Asking your travel agent can also be helpful. During your travels remember to keep a copy of your policy with you at all times. If you wish to file a claim, you need to present proof of the event happening. In the case of health issues, a doctor’s note is needed to cancel the booking.