Travel Insurance, sometimes also known as trip insurance and some other terms, is a type of insurance, and is particularly relevant to the persons who undertake regular tours inside the national borders or frequently visits international destinations. Insurance gives a sense of confidence and comfort, and this applies more so while one travels to unknown places where she/he may face many problems like falling sick in an unknown place or losing the baggage in an unknown city. Surely, one may travel without arranging any insurance cover, but it is always advisable to obtain a travel insurance cover while traveling.
Depending on your requirement, you may take travel insurance cover for a variety of risks. Some of the most prevalent risks while traveling and making trips include the following:
- Insurance against cancellation of the trip or travel
- Insurance against delay or interruption in the trip or travel
- Insurance against medical expenses incurred during the period of the trip
- Insurance against the loss of baggage and other valuables
- Insurance against damage to the properties while traveling
The above list is only by way of illustration. There may be several other risks for which you as a traveler may require an insurance cover, which you may discuss with your insurance company or its representative.
While purchasing any travel insurance, you may like to consider the features and advantages available and the cost of the insurance. Some insurance companies offer add-on serves, which make their schemes more attractive when compared to other companies. These add-on features make such a travel insurance buy even a better bargain against the price paid. Just to give an example, some insurance companies may provide the following facilities in addition to the normal travel insurance:
- 24x& Hotline to contact the company’s representatives in case of need and emergency and to seek assistance
- Services to track and locate lost and misplaced baggage
- Change of Mind: interestingly, some companies would reimburse you the cost and penalties arising on account of change of mind, even if it were you who changed your mind to travel or rescheduled your travel plans.
- Concierge services like referrals to restaurants, transportation to-and-from the airport, arranging an obtaining pass, invitations, and tickets for various local events, and so on.
- Over booking costs: in case, you find that the hotel you intended to stay is overbooked, the insurance company may reimburse to you the extra expenses incurred by you in staying in another comparable hotel.
- Child care: Some of the insurance companies offer a special facility for the care of children and kids in case you get sick or are unable to return as scheduled.
The insurance company would arrange for taking care of minor children and kids and arrange to fly them home, if required accompanied by some adult.
Primary vs Secondary Medical CoverageEdit
It is important to be aware of the different medical coverage that your travel insurance policy offers. Secondary medical coverage means that thepolicy will only pay the expenses in excess or over the amount covered by your primary health insurance policy. If you are a US citizen traveling internationally, this can cause a problem since most US medical plans do not offer coverage in most foreign countries.Primary medical coverage takes effect before any other valid and collectible health insurance you may have which means it eliminate your out of pocket medical expenses should you need care in a foreign country.
Buying a Travel InsuranceEdit
Compared to the old days when one has to call on an insurance agent to buy any travel insurance, the buying of this product has become rather easy now-a-days. You may buy a product suitable to your requirements through the Internet and accessing the sites of an insurance company of your choice. This is cheaper as you shall be mostly dealing with the company without the intervention of a middleman, the insurance agent. Moreover, sitting in your home, you may compare the products available without feeling the physical presence of a sales person goading you to buy a particular type of product. However, there is always an option open to you to call the insurance company or its agents to discuss your exact requirements, and buy a tailor-made travel insurance product, which may serve your purpose and requirement.
It is always advisable to think over the risks, which you may encounter during a trip or a travel, and list them. This will give a picture of the requirements, which you desire to be taken care of by buying any particular type of travel insurance cover.
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