Basics About Travel Insurance You Should Know
With the growing, overwhelming rate of risks and perilous events even in the travel industry, there is no better time to emphasize the need for travel insurance.
What is travel insurance? What does it cover? Why is it important to purchase one ahead of your trip?
These questions and other related questions will be getting their worthy answers as this article covers almost all the basics of travel insurance today.
Several insurance companies and products exist to help cushion the effect of risks and perils associated with a particular sphere of endeavor.
Traveling, for example, is not exempted from the bandwagon of risks associated with industries and when you see the word travel insurance, you already have an idea of what it is about.
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What Is Travel Insurance
The short and simple answer is that travel insurance is a cover for loss and damages that one suffers while traveling.
It is almost certain that one may fall sick when they travel out of their current location and region.
Your travel insurance will pay for the medical expenses you will incur should you fall sick while away from home.
Also, you may suffer some loss when your flight is delayed or gets canceled. Every year, both airline operators and travelers, lose more than 50 million dollars.
Having this insurance cover will lessen the effect of such a loss and pay you compensation when your flight is delayed or canceled.
Due to medical conditions and death, the need to evacuate or repatriate a body may arise. Your insurance company will finance the medical evacuation and repatriation of a dead body.
If anything goes wrong with your luggage, you may not find your journey fulfilling. You do not need to sweat it when you lose or luggage or if it gets stolen when you have travel insurance in place.
In summary, whether you are chartering a private jet with Jettly, planning a luxury cruise, or backpacking across Europe, travel insurance is the companion for your travel expeditions.
What Does Travel Insurance Cover?
Different travel insurance companies have stipulated provisions. It is quintessential to understand the provisions allotted by your insurance provider.
But generally, these are what travel insurance should cover:
1. Medical Emergencies
It should handle any form of medical emergencies while you are visiting your host country or state.
Either you fall sick or get into an accident, so long it is a medical emergency, you should not be worrying about paying.
2. Trip Cancelation or Interruption
You have all your plans ready for your trip and in the nick of time it gets canceled or while you are in transit you encounter some delay.
Both for cancellations and interruptions, it is typical for your insurance provider to compensate you for any loss that arises from such events.
3. Medical Evacuation
Moving a body from one country to another or from one state to another will be handled by your insurance company.
The reasons for the evacuation may be due to death or critical medical conditions. Whichever way, your insurance provider has got you covered.
4. Lost, Damaged, or Stolen Luggage
This is one cover that must be in your insurance policy. To the best of my knowledge, no insurance company exempts from this provision.
Whether you misplace your luggage or it gets stolen or suffers some damage, you should be compensated by your insurer.
The aforementioned points are not all that are covered by travel insurance. They are only the basics that must be in place.
Ensure you go through your policy documents to understand the things that are covered.
You may seek the services of an insurance agent or broker to help you explain the aspects of the contract you do not understand.
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What Is Not Covered By Travel Insurance
There are exceptions to the coverage of this insurance policy. Here are a few:
1. Losses due to health conditions that existed before the insurance purchase
If you have a health condition say asthma, for example, the travel insurance will not pay compensation for any loss caused by asthma.
Although, if you have not had an attack say in the either 30, 60, or 90 days waiting period as decided by the insurance provider, then you may receive compensation.
2. Losses Due to Mental and Emotional Disorders
Any loss arising from a mental disorder or some emotional trauma is not covered by this insurance.
Someone going insane or having to cause damages due to an emotional backdrop will not have the backing of this insurance policy.
3. Traveling for Medical Reasons
If the purpose of your trip is to find medical help, any loss or damage will not be covered by this insurance.
4. Childbirth Expenses
For pregnant mothers, this insurance will cover medical expenses in the event of complications.
It will not cover childbirth expenses. When you give birth in the country you traveled to, you will have to pay for your childbirth expenses yourself.
5. Losses from Reservation and Accommodation
You may lose your hotel reservation or get double-booked accommodation.
In both cases, your insurance company will not pay claims.
Is Travel Insurance Worth It?
The short answer is YES. In unimaginable ways, travel insurance is worth it.
No matter how circumspect we try to be when traveling or the guarantee from airline operators or what have you, there are inescapable risks.
To lessen the impact of these risks, it is quintessential to have them in place.
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Conclusion
Wouldn’t you love to go on that business trip and give it your unperturbed focus?
It is possible to really go on your holiday or vacation and focus squarely on the much-needed rest your body needs.
Get travel insurance today.
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Brodrick Emmanuel Ebube is the content manager at MyTopInsuranceBlogs.com. He works with other contributors from the ideation of content and down to its execution. He ensures that all articles published on our blog meet international standards, and are well-optimized for search engines. Connect with him on Twitter – @gospelcaster_ng
