Travel insurance is a must for all travelers, whether for a business trip or just for pleasure. It is essential as it can cover you for everything while you are on the journey from medical bills to loss of goods to flight cancellation to theft. This ensures that you have a safe and enjoyable trip anywhere around the globe. There are various types of travel insurances. Here, the big question arises, which travel insurance should I go for?
Finding the best travel insurance policy is not an easy task. There are certain factors that are to be considered to choose the best policy. Choosing the right policy gives you and your family a peace of mind while traveling.
If a certain insurer provides a cover that is expensive, it does not mean that it is the best insurer. In fact, the best thing is to read the papers thoroughly, understand the benefits covered, compare the quotes and benefits with other insurers and then make a final decision.
What should your travel insurance cover?
- Emergency medical coverage: Some insurance providers do not provide claims for pre-existing diseases, like heart ailment or terminal illness. But while travelling, this needs to be covered. You have to check with your insurance provider as to what medical expenses are covered in the travel insurance.
- Accidents occurring during adventurous activities: If you are out on an action packed holiday, you have to be sure that your policy covers for any accidents occurring while performing adventurous activities like skiing, para gliding, hand gliding, bungee jumping etc. Some policies do not include these ‘hazardous’ activities, while some others will cover these only when you pay something extra.
- Your personal belongings: Next, confirm with your travel insurer whether your personal belongings which may get lost or destroyed or stolen while travelling are covered or not. All travel insurers are legally bound to reveal the fine print in simple terminology.
- Emergency evacuation: Make sure your travel insurance policy covers emergency evacuation. For instance, while travelling, you face a natural disaster and you need to be evacuated to another place. Emergency evacuation also means inclusion of your ticketing expenses from the hospital to back home.
- Financial protection: Suppose you are going to a different country for official purpose and your company gets bankrupt during that time, make sure your travel insurance covers financial protection so that you are secured when you are stuck in another country.
- Travel life insurance: It is not a life insurance policy but should be included in any travel insurance. This offers a death benefit to the policy holder, as to returning the remains or the body home for burial.
- Cancellation charges: Your travel policy should cover cancellations, such as hotel bookings, flight, the trip expense and other bookings.
- More destinations: Make sure your plan covers several countries of the world.
The above tips will definitely help in answering the question ‘which travel insurance cover should I go for’.