Wednesday, 19 August 2009

Travel Insurance

What is a travel insurance? This is an insurance that covers medical expenses and financial (such as money invested in nonrefundable pre-payments) and other losses incurred while traveling, either within one's own country, or internationally.

Temporary travel insurance is travel insurance that can be arranged at the time of the booking of a trip to cover the duration of this trip. Thiere is and an continuous insurance which you can pruchase from travel insurance companies, travel agents or directly from travel suppliers such as cruiselines or tour operators. But, travel insurance purchased from travel suppliers tends to be less inclusive than insurance offered by insurance companies.

Travel insurance we can categorise by variety of travelers, so we have student, business, leisure, adventure, cruise and international travel. This options can be insured.

Next, we will give you a list of common risks covered by travel insurance:
--> Medical expenses
--> Emergeny evacuation  or repatriation
--> Trip cancellation/interruption
--> Accidental death, injury or disablement benefit
--> Overseas funeral expenses
--> Delayed departure
--> Loss, theft or damage to your personal possessions and money (travel documents are included)
--> Delayed baggage (and emergency replacement of essential items)
--> Legal assistence
--> Personal liability and rental car damage excess

Sometimes travel insurance policies also provide cover for additional costs, although these vary widely between providers.

In addition, often separated insurance can be purchased for specific costs such as:
--> pre-existing medical conditions (e.g. asthma, diabetes)
--> sports with an element of risk (e.g. skiing, scuba-diving)
--> travel to high risk countries (e.g. due to war or natural disasters or acts of terrorism)

Common Exclusions:
--> pre-existing medical conditions
--> war or terrorism - but some plans may cover this risk
--> injury or illness caused by alcohol or drug use

Usually, the insurers cover pregnancy related expenses, if the travel occurs within the first trimester. After that, insurance coverage varies from insurer to insurer.[1]

Travel insurance can also provide helpful services, often 24 hours a day, 7 days a week that can include concierge services and emergency travel assistance.

Typically travel insurance for the duration of a journey costs approximately 5-7% of the cost of the trip.

1 comment:

  1. Travel insurance is very important. Thanks for the info mate