How travel insurance works
Travel insurance is provided for damage caused during accident or traveling. It is offered everywhere i.e. either in one’s own country or internationally. Single trip travel insurance can cover you for all sorts of things like medical emergencies, travel disruption and lost baggage. Annual cover includes needs cover in case of missed departure, insolvency of provider etc. Whether you are taking trip of lifetime, long weekend or regular holiday, insurance policies are always there to help you. Insurance services are provided by travel agents and travel insurance specialists. To clear up issues regarding safe insurance, information is provided to explain you the benefits of having insurance before planning a trip.
Things to consider before taking travel insurance policy-
Commitment you need to make while planning for travel insurance-
Paying monthly or annual premium is must. Some insurance policies cover a maximum period of 12 months, apart from single or long trip and long term Travel insurance which cover life and critical illness. Before taking a policy, you must read policy terms and conditions. Most insurance companies offer paying in monthly installments. These installments must be paid in full and interest may be charged.
Types of Coverage-
Travel insurance include policies for trip cancellation, medical emergencies, medical evacuation etc. but these all are very expensive. Some policies offer claims for acceptable reasons like illness, cancellation by airline or Tour Company, weather or accidents. So, you must know how likely it is that you would ever cancel a trip.
Advantages of travel insurance-
It covers incidental costs while you are going through medical treatment or illness. It is given after a minimum length of stay and also has an upper limit on amount you claim for.
Personal accident/Legal expenses
Some amount of money will be given to you in case you die or in the event of accident. It also involves help given in the process of defending a case in court.
Cancellation or trip interruption
This cover costs on changing trip duration as flight changes and death in family or problems occurred in home.
Travel insurance offers affordable and accessible premium, however the cover given to you may vary under different policies.
Strikes and Hijacks
This offers daily allowance, if your travel is delayed for more than 12 hours from reaching your on time destination due to industrial action.
Disadvantages of travel insurance:
- Most insurance policies don’t cover trip interruptions caused by weather.
- Another limitation is that costs associated with change in trip duration including the route and places that you visit are not covered
- The biggest drawback is that there are so many costs that can occur when things go wrong that policy will not cover definitely.
- If you dint purchase travel insurance then you will not be protected from health and bad problems which occur during traveling.
Travel insurance services offer great protection and make your trip secure by providing monetary compensation.