how to get a travel insurance

How to Buy Travel Insurance Ultimate Guide: Not to Miss!

Millions of travelers have to deal with a string of questions when they decide to buy travel insurance. Purchasing a comprehensive travel insurance policy can be as challenging as planning a trip itself for the uninitiated. The irony is that the more you do prior research for your travel plans, the more complicated it can get!

Although people might feel overwhelmed at the thought of getting their hands on an appropriate travel insurance policy, some simple steps can make things easy and help you choose a suitable plan in no time. This article will discuss everything you need to know about travel insurance.

Let’s get started, shall we,

What is a Travel Insurance?

What is travel insurance

Travel insurance is a policy that offers coverage for medical expenses, trip cancellation, lost baggage, etc. while traveling. It can also protect against other risks such as Terrorism and Political Unrest.

Travel insurance is usually more comprehensive than standard medical insurance policies, as it covers a wide range of expenses that you might incur during your Trip. In addition, some travel insurances also come with optional benefits such as Adventure Sports Coverage, Skiing or Sailing, etc.

Why do you need travel insurance?

There are several reasons why you might need travel insurance.

Medical Expenses: If you get sick or injured while traveling, your regular medical insurance policy might not provide coverage. On the other hand, a travel insurance policy will cover all your medical expenses incurred while traveling.

Trip Cancellation: If you have to cancel your trip due to an unforeseen event such as an illness or death in the family, a travel insurance policy will reimburse you for the cost of your Trip.

Lost Baggage: If your baggage is lost or stolen, a travel insurance policy will help reimburse you for the cost of your belongings.

Emergency Evacuation: If something happens and you have to be evacuated from your place of travel, a travel insurance policy will provide coverage for the cost of transportation to a safe location.

Criminal Protection: While traveling, if you are robbed or become a victim of assault or theft, your regular medical insurance policy might not cover this. A good quality travel insurance plan will protect you against such incidents.

Legal Protection: If you are arrested in another country and require assistance with the legal process, some travel insurances will help provide support through an emergency hotline service with access to lawyers who can assist you with legal matters.

Flight Failure / Delays: Although airlines are required by law to reimburse passengers for flight delays/failures which cause missed connections, they don’t always make it easy for them to do so. A travel insurance policy will reimburse you for missed connections and alternate flights if a flight is delayed or canceled.

Baggage Loss / Damage: If your baggage gets damaged or lost, a travel insurance policy will help ensure that you are reimbursed for the loss of your belongings.

Types of Travel Insurances:

A few different types of travel insurance policies are available in the market.

Single Trip Insurance: A single trip policy is ideal for people traveling for a specific period and who have no plans to tour again shortly.

Annual Multi-Trip Insurance: An annual multi-trip insurance policy is perfect for people who travel frequently. It covers you for an unlimited number of trips during the policy year, as long as each trip is not more than 30 or 45 days long (varies from insurer to insurer).

Long Stay Travel Insurance: If you are traveling for an extended period (more than 30 days), you will need an extended stay travel insurance policy that provides comprehensive coverage while you are overseas.

Travel Insurance for Students: If you are studying abroad, you will need a travel insurance policy that provides coverage against medical expenses and accidents while traveling overseas.

What are the benefits of Travel Insurance?

benefits of Travel Insurance

There are several benefits that you will enjoy as a travel insurance holder.

Peace of mind: You can feel secure knowing that you have access to extensive coverage for any medical expenses, trip cancellations, lost baggage, and more.

24/7 worldwide assistance: If something goes wrong while on your trip, a good quality travel insurance policy will ensure that help is provided to you around the clock.

Ease of processing claims: Most travel insurance carriers have established an easy claims process that allows you to access your benefits as soon as possible.

Comprehensive coverages: A good quality travel insurance plan will provide coverage against all sorts of risks, including those mentioned above, as well as natural disasters and political instability.

What should you check in a Travel Insurance Policy?

check travel insurance policy

When comparing different travel insurance policies, you must check the following:

1. What is the maximum reimbursement limit for each claim?

3. What are the terms and conditions of the insurance policy?

4. Can you customize your policy to suit your needs?

5. Does the plan provide flexible coverage, i.e., allowing you to choose between medical expenses coverage or trip cancellation coverage, etc.?

6. Is there an age limit to travel on the insurance policy?

7. Are there any pre-existing condition exclusions?

8. Can you extend your cover if needed?

9. For how many days can you extend it, and what will be the cost involved in doing so?

10. What is covered under “emergency evacuation”?

When should you get your Travel Insurance?

time to book a trip travel insurance

You should get your travel insurance policy before you start planning your trip. This will help ensure that you are not held back by the lack of coverage while traveling.

It is also a good idea to purchase travel insurance when you have your flight tickets. If anything goes wrong, the earlier you buy a plan, the better it is for you.

How much does Travel Insurance cost?

The amount of money that you have to pay towards a travel insurance policy varies from insurer to insurer and also depends on various factors such as:

1) The duration of your Trip (longer trips tend to be more expensive)

2) The number of people included in the policy; family plans are generally cheaper than individual ones.

3) Your age and pre-existing conditions (if any).

4) Do you want added protection like emergency medical evacuation cover etc.

Where should you get your Travel Insurance?

There are several places where you can get your travel insurance.

1. Your Financial Advisor: If you have a financial advisor, ask them to help you find the best travel insurance policy that suits your needs.

2. Insurer Directly: You can contact individual insurers directly for quotes and advice on their policies. The main downside is that not all insurers offer coverage for every country; therefore, it will be difficult to compare different policies side by side.

3. Travel Insurance Brokers: Travel insurance brokers like “Insurance hound” can assist you in finding the right plan at the best price. This is great if you want an unbiased comparison between different plans available in the market; however, similar to visiting an insurance company directly, not all travel insurance plans are available through brokers.

4. Online: Several travel insurance providers offer their policies online. This is a great option if you want to compare different plans and prices quickly and easily.

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Words Used in Terms and Conditions of Travel Insurance Policy

There are a few terms that you will commonly encounter while reading the terms and conditions of a travel insurance policy. Here are some of them:

1. Pre-existing Condition: A pre-existing condition is an illness or injury you had before you purchased your travel insurance policy. Most policies do not cover expenses related to pre-existing conditions, so it is important to check this before buying a policy.

2. Exclusion: An exclusion is something that is not covered by your travel insurance policy. It is important to review the list of exclusions carefully to ensure that the risks you are most likely to encounter while traveling are covered.

3. Cancellation: Cancellation refers to the act of canceling your Trip before you have departed. If you cancel your Trip, you may receive a refund for the costs associated with the Trip.

4. Medical: Medical expenses are incurred due to an illness or injury while traveling. A good quality travel insurance policy will cover medical expenses incurred while traveling.

5. Trip Delay: A trip delay is when your flight or other means of transportation is delayed, and you are required to stay overnight in a hotel. Most policies provide coverage for a certain amount per day for each day you are delayed.

6. Baggage: Baggage refers to the items you bring on your Trip. If your baggage is lost or stolen, most policies will provide coverage for the costs associated with replacing these items.

7. Emergency Evacuation: This is a medical treatment that you require when traveling due to an accident or incident, but it cannot be provided in your city of travel. If this happens, most policies will cover the cost of returning you to your home city and the associated costs (e.g., ambulance and hospital charges).

8. Repatriation: Repatriation refers to the act of returning a body to its home country after death while on vacation or business travel. This term usually only applies to accidental deaths while traveling, so check your policy carefully if this may apply to you.

9. Baggage Delay: This typically relates to delayed luggage by a certain number of days while traveling. This term will be detailed in the terms and conditions of your policy, so check carefully.

10. Terrorism: Terrorism is when individuals or organizations threaten violence against people to further their political goals. Most policies provide coverage for damages, injuries, or costs incurred due to acts of terrorism that occur outside of your country of residence; however, it is important to check this before purchasing a policy.

11. Personal Liability: Personal liability refers to the act where you are responsible for injury or property damage caused by you (or an individual acting on your behalf) during travel, such as causing an accident resulting in another person’s injury or property destruction. This term usually only applies if no one else was involved in the incident and is not covered under most standard travel insurance policies.

12. Rental Car Coverage: Rental car coverage is an optional add-on to many travel insurance policies. This coverage can protect damages or losses that occur to a rental car while driving it. Check your policy carefully to see if this coverage is included.

What to keep in mind when reading the terms and conditions of a travel insurance policy:

1. Make sure that the risks you are most likely to encounter while traveling are covered. This includes medical expenses, trip cancellation, and lost or stolen baggage.

2. Read the exclusions carefully. Some common exclusions include pre-existing medical conditions, terrorist activities, and war.

3. Consult a professional if you have any questions or concerns about the terms of your policy.

4. Review your policy annually to ensure that it is still relevant and adequate for your needs.

Which Medical Expenses are covered In Travel Insurance?

medical coverage in travel insurance

1. Medical treatments received due to an illness or injury that occurred within your policy’s travel dates.

2. Out-of-pocket expenses for medical treatments required before you can begin your Trip (i.e., tests and x-rays, vaccinations, etc.).

3. Inpatient and outpatient hospital fees associated with treating injuries or illnesses that occur while traveling.

4. Prescription medications, over-the-counter medication, vitamins, and supplements prescribed by a physician for treatment purposes.

5. Ambulance services to and from the nearest appropriate medical facility providing treatment for an illness or injury while traveling.

6. Any costs incurred due to delayed entry into a country because of medical clearance.

7. Dental expenses (up to a certain limit) for treating accidental injuries that occur while traveling. This does not include routine dental care or treatment for pre-existing conditions.

Which Trip Cancellations are covered in Travel Insurance?

trip cancellations in travel insurance

1. Trip cancellations or interruptions due to covered reasons such as illness, injury, or death of the insured or a family member.

2. Weather-related trip cancellations or interruptions (i.e., natural disasters such as hurricanes, tornadoes, flash floods, etc.).

3. Trip cancellations or interruptions due to airline mechanical failures, strikes, or other labor disruptions.

4. Trip cancellations or interruptions due to hijacking or a terrorist attack.

5. Trip cancellation insurance does not typically cover cancellations made for personal reasons (e.g., you no longer want to go on the Trip).

Which Lost Baggage Are covered In Travel Insurance?

baggage loss travel insruance

1. Lost, stolen, or damaged baggage.

2. The cost of shipping replacement items if your baggage is lost or stolen.

3. The reasonable costs of purchasing essential items if your baggage is lost or stolen and you are required to purchase them immediately (e.g., clothing, toiletries, etc.).

4. The cost of returning home if your baggage is lost or stolen and you cannot continue with your Trip.

5. Up to a certain limit, the cost of repairing or replacing lost or damaged luggage.

Which Flight Delays Are Covered In Travel Insurance?

flight delays travel insurance

1. Flight delays are caused by covered reasons such as severe weather conditions, airline mechanical failures, labor disruptions, or hijacking.

2. Missed connections due to a delayed flight.

3. The cost of meals and accommodations if you are stranded due to a flight delay.

4. Reasonable expenses for transportation costs to catch up to your original travel plans if you have missed your connecting flight.

5. The cost of canceling or rebooking tickets if your original flight is delayed or canceled.

Which Emergency Evacuation is Covered in Travel Insurance?

emergency evacuation travel insurance

1. Emergency medical evacuation to the nearest appropriate medical facility in the event of an illness or injury that results in a serious or life-threatening condition while traveling.

2. Transportation costs for you and your immediate family members in the event of death, dismemberment, or hospitalization due to an accident while traveling.

3. Transportation costs for remains in the event of death when returning home from a trip due to an accident involving transportation (e.g., airplane crash).

4. Rental car replacement if yours has been lost, stolen, destroyed beyond use, or becomes unusable because it is stuck at a destination during evacuations due to severe weather conditions or political unrest.

Is There Anything That Travel Insurance does not cover?

1. Pre-existing medical conditions, except when caused by an accident that occurs while traveling.

2. Trip cancellations or interruptions are made for personal reasons (e.g., you no longer want to go on the Trip).

3. Medical expenses unrelated to an illness or injury that occurred while traveling.

4. Lost or stolen property that is not related to baggage.

5. Expenses incurred due to being evacuated from a country due to political unrest or a natural disaster.

6. Damage to rental vehicles, except for the windshield, tires, and undercarriage damage.

7. Legal fees and expenses related to travel insurance claims.

8. Any costs that are more than the policy limit.

9. Claims filed more than 90 days after the incident occurred.

10. Services provided by members of your traveling party (e.g., meals, accommodations, etc.).

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FAQ


Here are some most frequently asked questions and answers regarding Travel Insurance:

The maximum age for someone covered by a travel insurance policy varies, but most policies have an upper limit of around 80 years old.

Some policies will cover you if you are pregnant, while others will not. Therefore, it is important to read the fine print of your policy before you purchase it to see if pregnancy is a covered reason for trip cancellation or interruption.

Many policies will cover you for medication-related issues, as long as you have a letter from your doctor stating what the medication is and why you need to take it.

Most policies will not cover you if you are going on a cruise, as this is usually considered an already covered activity.

Many policies will cover you for activities like skiing or white water rafting, but it is important to read the fine print to make sure that these activities are included in your policy.

Many policies will not cover you if you have a pre-existing medical condition, but some do. Therefore, it is important to read the fine print of your policy before you purchase it to see if your condition is covered.

Most policies will not cover you for damage to rental vehicles, except for the windshield, tires, and undercarriage.

Some policies will cover you for illness or injury to your children, while others will not. Therefore, it is important to read the fine print of your policy before you purchase it to see if these types of incidents are covered.

Many policies will cover you for lost or stolen luggage, as long as it is considered to be part of your baggage.

The maximum amount that most travel insurance policies will cover you is usually around $50,000. However, some policies have a higher limit. Therefore, it is important to read the fine print of your policy before you purchase it to see the exact amount that you are covered for.

Conclusion:

There you go, everything you need to know about travel insurance. Whether you are traveling for business or pleasure, it is always a good idea to have travel insurance in case something goes wrong. By knowing what is covered and what is not, you can ensure that you are getting the best policy for your needs.

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