Travel insurance would probably be the last thing that comes to your mind while planning for a holiday. But what exactly is travel insurance? Well, it is a kind of insurance which is intended to cover the cost of trip cancellation, medical expenses, flight accidents, lost baggage and all the other kinds of losses which might incur while traveling domestically or internationally.
The benefits of travel insurance are many and it can be arranged quite easily at the time of booking so as to cover the exact duration of the trip. It can turn out to be the most beneficial things in case you have a crisis situation to deal with. Listed below are a few advantages of having travel insurance.
Medical Assistance and Transportation
In case you fall sick while on your trip, you would be covered for your medical needs. These insurance policies also pay for the transportation either by road or air to the hospital. One should be aware of any limitation like the pre-existing conditions being not covered. If you were in a far off place which does not have any good medical establishment and are extremely sick, the insurance most of the time covers you to be evacuated. You would be evacuated to some place which can offer you a medical treatment even if that means being transported to another country.
If you are injured badly or die while on your trip, the insurance would entitle you some money so as to compensate for you or your near and dear ones.
Curtailment of the Trip or Cancellation
This element would cover the cost in case you have to go back home in case of emergencies. These unforeseen circumstances might be fire or burglary at your home, the death of someone in the family or any such reasons.
One of the benefits of travel insurance is that a part of the expenses would be covered by the insurance company of a legal nature which has taken place due to a personal liability or accident. Personal liability means bodily injuries or any damage to the property of another person due to the claim been made against you. All of these expenses would be covered by the travel insurance company.
Luggage, Passports, Money and Personal Possessions
The insurance would cover your baggage and belongings while you are on a trip for things like laptops, jewelry or cameras. Of course, there are some limits on what is being covered but, you would receive a compensation for the lost or stolen items. In case your passport is among these items, they would ensure that you get a replacement in time.
No wonder there are several benefits of travel insurance, but, all of these policies vary in levels and elements that they offer. It is, therefore, important to read all the terms and conditions carefully before getting the insurance. You could also check if the insurance policy covers things that you might want in particular. You might opt for annual policies in case you plan to travel more than two times within a year.