Travel Insurance is a type of insurance that covers losses that are incurred while traveling. This can be applied either within one’s own country or for international travel. It covers medical expenses, trip cancellation, accidental death, injury, funeral expenses, loss or damaged baggage, travel documents, etc.
Travel Insurance reimburses your travel expenses if an unexpected situation occurs during your trip causing it to be cancelled, interrupted or delayed. Depending on the insurance plan, some plans also reimburse you for emergency medical expenses incurred while traveling.
There are basically two types of travel insurances, Single Trip Plan and Annual Plan.
Single Trip Plan must be bought every time before you go on a trip. It is usually bought at the time of booking your travel at the travel agencies. Single Trip plan is only effective during the period of your trip, once your trip is over, your single trip travel insurance expires too.
Annual plan on the other hand is not based on the trip, rather, it is based on the period of coverage. Annual plan covers you for all the travel that is made in that year for a full year and you do not need to buy one every time you go on a trip. Although you don’t need to buy a travel insurance before every trip, some insurance companies do require you to notify them of your trip prior to departure, some companies do not, so make sure that you understand the requirements of your travel insurance plan.
Most travel agencies offer travel insurance when you are booking a trip. This is to make it easy for you and also to ensure that you are covered while traveling. Some people may find travel insurance unnecessary or expensive but the reward you get in return is the peace of mind while traveling and you know that you are covered in the event of any emergency. Travel Insurance is a wise investment in your travel plans and you should never travel without it.
Travel insurance can be purchased from most travel agencies but they tend to have fewer offerings as compared to buying directly from insurance companies. Travel insurance is really smart planning. You just want to have the peace of mind and make sure that your luggage is insured, your flight will deliver you and or your loved ones safely, and should there be a delay or when something unforeseen happens, you do not have to rely on whether your other insurance coverage will or will not cover you while traveling.
Sometimes, even non-refundable tickets are covered when a booking is cancelled as long as the customer has a good valid reason. It would be best to consider fully packaged insurances when traveling for a longer period of time. There are also travel insurance offered for medical purposes, this is essential for travelers who have existing medical conditions. It is always advisable to be physically and financially prepared when traveling. You never know what to expect.
Emergency situations may occur any time during travel. So remember to choose the right travel insurance for yourself. Always remember that some Travel Insurance is always better than no insurance coverage when you travel. It’s always better to have Travel Insurance and not need it, than to need it and not have it.