I haven't really made sense on what travel insurance really is right? Keep walking with me. Travel insurance is simply insurance that protects you from financial risk of traveling which include accidents, illness, emergency evacuation, lost baggage, missed flights and many more depending on the cover you opt for.
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Types of coverage
1. Medical Emergencies, evacuation and repatriation
This is probably one of the most important reasons to buy travel insurance. Most insurance companies will work with hostipals or clinics direclty in case of medical emergencies in foreign countries. This might include overnight stays or even costly procedures. This means that if you get sick whilst you're in a foreign country, your insurance company will take care of your medical bills. Some good insurance companies will probably direct you to the best medical facilities that you wouldn't have known because you're a foreigner. You should look out for clauses in your policy though. If you travel to countries that requires you to take preventative medication and you don't do as such then fall sick, your insurance company will probably not pay for your medication. Also keep in mind that injuries from any 'dangerous activities' might also not be covered by a standard travel insurance policy. This includes activities such as sky diving, bungee jumping or skiing.
Evacuation covers the extra cost involved in getting you to a place where you can get appropriate medical attention in the event of an emergency. That means ambulance fees or related fees to get you to a medical facility will be covered by your travel insurance. This might also include paying for a fight back home where you can receive treatment.
Repatriation of remains is normally included in a standard travel insurance policy. I've already pointed out the difficulties involved in returning a body from a foreign country with Fortune Muparutsa's story. This benefit is designed to cover all cost associated with returning the remains of a traveling person to their home country if they were to pass on.
2. Baggage insurance
This insurance is specifically for your luggage incase it is lost, delayed or damaged. Imagine you are a soccer player traveling for a match and your luggage which has your boots gets delayed and you'll only be able to receive it after your match. You will need to get new boots and that is an expense you wouldn't have planned for. Travel insurance will reimburse all your expenses involved with delayed, lost or damaged baggage. However, it is worth mentioning that the expenses have to be necessary, for example if the footballers luggage is delayed by 30 minutes it will not be necessary to get new boots and therefore the insurance company will not be obliged to reimburse him. Insurance companies also usually put a strict cap on certain items such a jewellery and electronics so make sure you read the fine print. Also check with your airline if it provides luggage liability to make sure you don't double pay for it in your travel insurance policy.
3. Trip Cancellation or Interruption
This covers the unforseen and nonrefundable prepaid expenses that incurr when your trip is cancelled or interrupted for an insured reason. The insured reasons usually include that you had an accident and you missed your flight, your airline can not perform, you get serioisly ill before the trip or you can't travel because of bad weather.
Its important to remember that travel insurance policies are not all the same.
They have different specific benefits and exclusions so its necessary that you look at your situation and take time to read the policy wording carefully. Always contact your insurance consultant, insurance broker or insurance company to get clarity on areas you're not sure of.
Evacuation covers the extra cost involved in getting you to a place where you can get appropriate medical attention in the event of an emergency. That means ambulance fees or related fees to get you to a medical facility will be covered by your travel insurance. This might also include paying for a fight back home where you can receive treatment.
Repatriation of remains is normally included in a standard travel insurance policy. I've already pointed out the difficulties involved in returning a body from a foreign country with Fortune Muparutsa's story. This benefit is designed to cover all cost associated with returning the remains of a traveling person to their home country if they were to pass on.
2. Baggage insurance
This insurance is specifically for your luggage incase it is lost, delayed or damaged. Imagine you are a soccer player traveling for a match and your luggage which has your boots gets delayed and you'll only be able to receive it after your match. You will need to get new boots and that is an expense you wouldn't have planned for. Travel insurance will reimburse all your expenses involved with delayed, lost or damaged baggage. However, it is worth mentioning that the expenses have to be necessary, for example if the footballers luggage is delayed by 30 minutes it will not be necessary to get new boots and therefore the insurance company will not be obliged to reimburse him. Insurance companies also usually put a strict cap on certain items such a jewellery and electronics so make sure you read the fine print. Also check with your airline if it provides luggage liability to make sure you don't double pay for it in your travel insurance policy.
3. Trip Cancellation or Interruption
This covers the unforseen and nonrefundable prepaid expenses that incurr when your trip is cancelled or interrupted for an insured reason. The insured reasons usually include that you had an accident and you missed your flight, your airline can not perform, you get serioisly ill before the trip or you can't travel because of bad weather.
Its important to remember that travel insurance policies are not all the same.
They have different specific benefits and exclusions so its necessary that you look at your situation and take time to read the policy wording carefully. Always contact your insurance consultant, insurance broker or insurance company to get clarity on areas you're not sure of.