In the scorching heat of summers,I planned a family trip to a hill station to get some respite from heat.Everything was planned in advance and hotel bookings have been done.As the day of departure neared,the risk of trip cancellation loomed on as it was getting difficult to get leave from my office.
Though,finally,I managed to pull through with our trip but the fear of bearing financial loss due to hotel bookings and other arrangements in case of trip cancellation really worried me.This lead to me to some thorough research on Travel Insurance after coming back from the holidays.
You may also come across such a situation or may have already faced such a situation.In fact it can be anybody of us who is planning a family or a business trip.Reason can be numerous ; be it a flight missing,flight cancellation or even medical illness to self or a family member.
It can be really bad for our finances.It can be a double blow in case of a medical illness,especially when you don’t have your private health insurance.Such a situation can be really distressing,financially as well as mentally.
Travel Insurance may come handy in such situations.Apart from medical insurance,Travel Insurance covers many other aspects too.Travel Insurance companies provide a portfolio in a Travel Insurance from which you may choose according to your requirement.
Features of a Travel Insurance
Travel Insurance offers a cover for 180 days which is extendable for another additional 180 days.People with age from 3 months to 70 years may get the insurance.Senior citizens of age 71-85 may buy Seniors Travel Insurance.
It is not important to go for a cheap travel insurance but an insurance which can serve you best in case an emergency arises.Let us have a look at the covers a Travel Insurance may offer you ;
1. Missed Flights – Sometimes you may miss your flight due to any reason.It may be due to traffic jams,vehicle breakdown on the way to airport or anything like that.Travel Insurance covers the expenses for booking additional flight and other expenses to reach your destination.
2. Cancelled Flights – Same is true in case of cancelled flights and the Travel Insurance company covers any losses you incur due to flight cancellation.
3. Cancelled Trips – If you have to cancel your trip due to any reason like a medical illness or any unfortunate death of a family member or any reason which forces you to cancel your trip,the Travel Insurance covers the losses due to tickets or hotel bookings etc.
4. Trip Curtailment – Travel Insurance also covers the losses if you have to shorten your on going trip due to any personal or business reasons.
5. Theft or Loss of Luggage – That is a common thing to happen to tourists.You get the coverage for the loss by your Travel Insurance policy.
6. Passport Loss – Like other belongings,if you come across the situation of losing your passport,you get the expenses covered for getting a new passport.
7. Accident Covers – Accidents may happen anytime and anywhere.It is always good to have a proper Accident Cover while going for a trip.These Travel or Trip Insurance also provide covers for accidents on a trip.
8. Medical Expenses – Like Accident Covers,you need to a have a travel health insurance to covers the expenses due to any illness arising on a trip.You may be already having a health insurance policy,but sometimes that may not remain valid when you are abroad.
Travel Insurance Companies have ASP (Assistance Service Provider) or a Europ Assistance in various countries and provide cashless treatment in hospitals in their network.A Trip Insurance also provide a feature of travel medical insurance to keep you covered from medical expenses.
Should You Buy a Travel Insurance ?
Before you for a Travel Insurance,you need to be aware that there are certain necessary deductibles when make a claim.Like for a Passport,the necessary deductible amount can be $ 50.For other claims,it may be up to $ 100.
Going or not going for a Travel Insurance is a personal choice.As with other kinds of Insurances,it is also for covering your risk of financial losses in the event of anything unexpected on your holiday or a trip.
There are so many features a Travel Insurance offers as we saw above and you may choose out of them according to your need to keep the premiums comfortable for you.If you already have a Term Insurance Plan,A Health Insurance and Accident Insurance which offers you the covers at the place of your trip,you may choose to not include them to your Travel Insurance Plan.
Travel Insurance Companies offers the option to buy Travel Insurance Online.So it is really easy to buy and customize a policy for you.You may buy a Single Trip Travel Insurance or a Multi Trip Plan.If you have to return from your trip before your scheduled date,you may terminate your Travel Insurance after returning and save the additional premium.