Travel
Why are travel insurances necessary
Travel insurances are used to cover for the costs incurred due to lost baggages, trip cancellation, or flight accidents for all domestic as well as international flights. This type of insurance can either be taken during the time of booking the trip for the exact duration of the trip or can be arranged as a multi trip policy which covers an unlimited number of trips in an allowed time frame of the insurance.
What parameters are covered in a travel insurance?
This insurance covers the most common risks that people can face during their travel. Some of these have been listed below
It covers for medical treatments which also includes transportation to the medical facility.
It also covers for cancellation, trip interruption, and curtailment.
Travel insurance also covers for accidental death, injury, or disablement benefit.
Travel delays due to extreme weather conditions are also covered.
In case an individual miss a flight due to a rescheduling made by the airline, it can also be covered by travel insurance.
What are common exclusions in a travel insurance?
The first and foremost parameter that is not covered by this insurance is pre-existing medical conditions.
The individual will also not be covered for if he or she is traveling for receiving medical treatment.
When travelling to a place struck by war.
It will also not cover for illness or injury caused by alcohol, drug use, or reckless behavior.
If you don’t declare your pre-existing medical condition before beginning the travel and you fall ill due to the same during the travel, you might not receive any coverage.
What is the annual travel insurance?
If you travel multiple times annually, it might be more economical for you to purchase an annual insurance instead of taking individual policies every time you are traveling in that year.
There are annual insurances that provide medical evacuation coverage. They provide cover for events of a loss of limb, loss of life, as well as for luggage loss, and treatment costs for illness or injuries.
Because these insurances provide coverage for multiple trips, they do not include a trip cancellation coverage.
How does travel insurances cover medically?
Medical coverage under travel insurance provide many types of coverages. This includes emergency medical evacuation and also cost of transportation in case the physician determines that you must be evacuated by a private mode of transportation.
For instance, if you are on an adventure holiday and you meet with an accident, then in such cases, medical evacuation back to the US via an airplane can get quite expensive. So, make sure that your insurance provider includes adventure travel in the coverage.
Are terrorist incidents covered in travel insurances?
Many insurance providers define terrorist incidents as when an organized group of terrorists defined by the government injures or kills people and causes damage to property with political, ethnic, or religious motives.
If a terrorist strike results in a tour operator or the airline carrier cancelling services for at least 24 hours, then such cases are considered as trip cancellation.
Read your travel policy carefully as these individual travel policies differ on the basis of the coverages offered by them.
Which are some of the popular travel insurance providers in the country?
Based on the types of coverages and inclusions that they provide, some of the most popular travel insurance providers (in no particular order) are listed below:
Travelex Insurance Services – It is one of the insurance services that provides insurance policies for kids under 21 years of age at no additional costs. Its middle-tier travel select plan caps medical treatment coverage at $50k.
IMG – IMG is popular for adventure travel. It is designed for remote and tropical locations that includes coverage extreme activities. It also provides coverage for automatic cancellations or interruptions that cite no reason or explanation.
Allianz Global – If you are planning for a trip that is going to last for more than six months, Allianz Global can be your best pick as most of the insurance providers offer a coverage that does not last for more than 3 months. Although it does not offer coverage for hazardous activities like scuba diving or zip lining.
