Have you ever heard about travel insurance besides health and property insurance? We won’t be surprised if your answer is a big ‘No’ because many travelers are unaware of this fact. But , it is never wise to be ignorant of such a significant matter to keep your traveling hours safe.
Therefore, today, we have decided to present you with the pros and cons of what is travel insurance. We guarantee that at the end of the day, this writing is going to help you to a great extent. So,we humbly recommend you not to ignore any of the segments of the article. Let’s begin!
What is travel insurance- the pros and cons
Travel insurance basically covers the expenses and losses that you may encounter in the course of travelling. It is applicable for both domestic and international traveling.
You can arrange the insurance while booking a trip for covering the duration of that specific trip. You can even choose a multi-trip policy that covers many trips within a preset timeline.
Although there exists many travelling policies all over the market yet you mustn’t adopt anyone randomly. Instead, you must consider the events, exclusions, exceptions, and other issues before confirming a policy.
Types of coverage
Different travel policies cover different factors of travelling and the factors are called ‘coverage’. So, in this section, we will be exploring some of the factors covered by travel insurance.
If you ask us what is travel insurance famous for then ‘trip cancellation’ will be our first answer! What is it?
Well, sometimes you may have to cancel your trip just before you set the foot. In such a case, your first and foremost duty is to inform the concerned transport authority of your ticket cancellation.
But, alas! Whatever your reason might be, the authority won’t refund you the total amount you paid.
Here comes travel insurance to redeem you!
If you have been a travel insurance holder, the insurance will pay you the rest of the payment. But, in such a case, you must have a cogent reason to show. The most accepted reasons are: severe illness, death of any family member, and bad weather.
One of the most common things that many travelers cannot but experience is- losing or damaging of baggage. It is in fact the most unfortunate and unexpected experience.
For example, you are travelling with a renowned airline and when boarding off you find that your baggage is nowhere. That’s to say, the concerned baggage department has made an unfortunate mistake.
Amid such a situation, the authority will definitely pay you for the loss but limitation may be there on reimbursement. It’s totally disheartening, isn’t it?
But, wait! you don’t have to be a bit worried if your travel insurance policy covers the baggage issue. The insurance will pay you the rest of the amount to help you face the loss.
Medical coverage basically comes to you in two types: short-term and major.
If you are under the short-term coverage then it will benefit you between 5 days and 1 year. On the contrary, major coverage can benefit you ranging from six months to one year or longer.
What will I have in return?
Medical coverage can help you to a great extent in multiple fields. For example,it bears your medical costs, helps you locate doctors, and lets you enjoy healthcare advantages. You may even have airlift facility for treatment and prolonged stays in abroad hospitals.
Actually, the advantages vary based on the amount you have paid for the insurance.
Accidental death and flight accident coverage
Another most unfortunate incident that may happen to you or any of your travel-mates is experiencing death or injury resulted from sudden accident.
But, if the death is a result of an overdose of drugs or sickness then you won’t have any facility.
However, you must keep in mind that in case you already own a life-insurance policy, you don’t need to adopt such type of travel insurance.
Overseas funeral coverage
There are very few number of travelers who adopt this policy because none expects death. But, you may adopt it to keep your relatives affliction-free even after sudden death abroad.
As per the policy, all of the expenses of your or any of your travel mates’ funeral will be carried by it if death occurs abroad.
As you are now aware of what is travel insurance coverage so it’s mandatory for you to learn the common exclusions to avoid meaningless arguments in the near future.
The exclusions mean that you won’t have any insurance facility if any of the following takes place:
- If you or your travel mate die because of chronic sickness or an overdose of drugs
- In case you drive a vehicle that doesn’t have a legal license
- Any situation arising from war or terrorism when you are inside the travelling transport. But, if you cancel any trip because of war or terrorism issue, you will have insurance facility.
- Sometimes the policy makers keep certain events excluded arising from natural calamities
- Traveling to such a country or part of a country where the entree of common people is disallowed
Issues to be checked before making the purchase of a travel insurance
Kindly consider the following points before you make the purchase of your travel insurance. If most of your findings are negative, you should avoid buying the insurance.
- Does it restrict you from traveling the country you dream for?
- Is there any exclusion that may arise complexity for you?
- Does it seem to be unclear in detailing?
- Does the insurance restrict you from a number of fields?
In the end, we expect you to realize the importance of travel insurance. If you have realized it then be concerned enough to adopt one immediately before your next travelling mission. Besides, make your near and dear understand what is travel insurance so that they can also remain safe while traveling.