Travel insurance is a must these days
Travel insurance is a must these days, especially for those who regularly travel outside their country of origin. There can be a lot of unexpected and expensive situations that can arise when traveling outside the boundaries of one’s own country, and a quick trip abroad to seek medical treatment or file an insurance claim can put a serious drain on one’s resources. It is advisable that one have travel insurance, even if the trip is just for a few days or a short holiday. Even a two-week vacation can result in substantial losses should an emergency arise.
Unfortunately, it is also not uncommon for insurance policies to include coverage for very minor instances that may occur while traveling. For instance, there are cases where a traveler is injured on a foreign shore and required to return home. In most cases, the traveler will incur some form of loss, such as lost luggage or a broken watch, at some point during the flight home. This type of situation is usually covered by a policy.
However, what about those trips where there is a significant change in the itinerary? What if the original trip length was only two weeks, but the traveler has suddenly extended his trip by two months? Is there a chance that the extra time could increase the amount of damages, delays, missed connections, etc? The answer is certainly “yes.” If additional time is added onto a trip, it is very possible that additional expenses will incur, such as increased flight fees, missed connections, and other problems.
The main purpose of travel insurance is to cover the pre-existing conditions
When travelers purchase travel insurance, the main purpose is to cover the pre-existing conditions. In general, this means that most policies will cover health related issues, but some do not. Some plans will cover only three to six months of health care expenses, while others cover all major medical and dental care. Some policies will cover accidents that occur during the trip, but most do not. So, how much travel insurance coverage actually does you need for the various trip types?
Trip cancellation coverage review
First, let’s review trip cancellation coverage. This type of insurance can provide reimbursement or coverage when the airline, tour operator, hotel, or transportation company cancels your trip. Depending upon the plan that you purchase, this type of coverage may either pay you directly or allow you to get a statement from your credit card or bank account for up to 30 days. If you have trip cancellation coverage but have already reimbursed the cost of your flight, the statement will also be helpful to you as you prepare for your next trip.
Trip interruption coverage
Trip interruption coverage is another expense that can drive your trip cost way up. If you are flying with a minor child in your traveling party, it’s likely that you will experience a lull in the flight traffic due to young children frolicking in the seats. This lull could last as long as thirty minutes. If you don’t have insurance, the parent of the child must call you or your credit card company within the hour of this occurrence to report the missing child. Because this type of insurance doesn’t pay out for missed connections, it’s important that you purchase the proper amount of coverage to cover the flight cancellation.
Annual travel insurance policy
Another type of policy to consider when purchasing travel insurance is an annual travel insurance policy. This type of coverage will reimburse you for the medical costs that occur during your trip regardless of whether your medical emergencies are of an occurring nature or if you suffer an injury while traveling. For example, if you have to use the restroom, get off the plane, or experience any medical emergency while traveling, the policy will pay for these services. However, the policy will not cover regular routine doctor visits or prescription drugs. A good example of when this type of insurance is most beneficial is if you are traveling with a young child. If the child has an emergency, his or her parents can file a claim and have coverage cover the cost of the trip plus their share of the doctor’s fees and prescription expenses.
All three of these types of travel insurance policies offer similar benefits and protections. When choosing coverage, there are a few other factors that you should also take into consideration. Some companies offer coverage on sporting events and theme park tickets, although some policies do not offer any coverage on these types of expenses. If you are traveling to an area in which laws differ substantially from those in your home country, check with the insurer about the legalities of your trip. And always read the fine print so you understand what you are covered for and what your obligations are when making a claim.