What Is A Travel Insurance
All of us love to travel. While some of us are blessed with wanderlust, others use the opportunity to get away from the monotony of everyday life and to steal a few memorable moments with their near and dear ones. There are still others who have to travel a lot due to business reasons. Whatever may be your purpose for traveling, it is always a wise decision to take travel insurance before you board your flight or train.
Travel insurance offers cover against the risk of incurring unforeseen expenses due to travel related emergencies. It is a short term insurance that has become very handy for travelers, both national and international, who know that things do not always go as planned. You can also buy cheaper domestic travel insurance in case you are heading to the nearby state for a vacation with your family or friends.
Travel insurance covers a number of risks that are specifically mentioned along with the exclusions in the policy contract. Thus, it is very important that you read the terms and conditions of travel insurance very carefully before opting for the same. This insurance must always be bought in your country of residence, which means the country that you want to be evacuated to returned to in case of any kind of emergency during the trip.
Most travel insurance policies cover the following risks:
- Any unforeseen medical expenses incurred during the tour
- Emergency evacuation or repatriation during the trip
- Loss due to trip cancellation or interruption
- Risk of injury, disablement or even death due to an accident
- Expenses of an overseas funeral
- Curtailment of the trip due to unexpected reasons
- Loss due to delayed departure
- Loss, theft or damage of personal possessions
- Theft of travel documents and money
- Loss of baggage and delay in recovery of the same from the airport. It also covers the cost of emergency replacement of essential items
- Legal assistance during the trip
- Instances of personal liability such as damage to a rented car
Some travel insurance companies also provide coverage for additional costs. However, it is advisable to ascertain this before taking the policy. It is also recommended that you take separate insurance to cover certain costs such as medical expenses for treating a pre-existing condition such as asthma or diabetes. You can also take additional policies for covering the risk associated with certain sports such as skiing and scuba diving or if you are traveling to a country that has a volatile political situation. However, do not assume that travel insurance will also offer you cover against any kind of injury or illness caused by alcohol or drug use.
